Quicksilver Resources Announces Closing of Sand Wash Basin Acquisition and Exploration Agreement

Quicksilver Resources Announces Closing of Sand Wash Basin Acquisition and
Exploration Agreement

Provides Transaction and Operations Update

FORT WORTH, Texas, Jan. 3, 2013 (GLOBE NEWSWIRE) -- Quicksilver Resources Inc.
(NYSE:KWK) announced today it closed the previously-announced Acquisition and
Exploration Agreement (the "Agreement") with SWEPI LP, a subsidiary of Royal
Dutch Shell plc, on December 28, 2012. Quicksilver now owns a 50% interest in
approximately 320,000 net acres in the Sand Wash Basin in Northwest Colorado,
which will be jointly developed with SWEPI. The Agreement also established an
Area of Mutual Interest covering in excess of 850,000 acres in the basin.
SWEPI paid Quicksilver an equalization payment for 50% of the acreage
contributed by Quicksilver in excess of the acreage that SWEPI contributed.
Further terms of the transaction were not announced.

"We are pleased to have SWEPI as a partner in this important oil project. It
is also a step toward improving Quicksilver's liquidity position," said Glenn
Darden, Quicksilver's President and CEO. "The proceeds from the closing of the
Agreement will be used to reduce the company's credit facility borrowings and
to fund future project development."

The company also provided an update on additional transaction efforts, as well
as an update on Horn River volumes and recently-completed wells in the Sand
Wash Basin and in the Midland Basin in West Texas.

Transactions Update

Quicksilver is engaged in confidential negotiations with a potential buyer to
sell a non-operated minority working interest in its Barnett Shale Asset in
North Texas.

The company continues to negotiate a potential joint venture in the Horn River
Basin in Northeast British Columbia, with the downstream marketing of the gas
a top priority. The company plans minimal capital spending in the basin until
this joint venture is executed.

As previously announced, the company expected to close the Barnett and Horn
River transactions by year end 2012. Negotiations continue on both
transactions and further updates will be provided in the first quarter of

Operations Update

Horn River Basin

The company's Horn River Basin Asset began ramping-up production in
mid-December 2012 to 100 million cubic feet per day (MMcfd) of raw natural
gas, which is being sourced from nine wells. Four wells have been producing
for over 18 months, and five wells are being brought online in stages since
the d-50 pad was completed in the third quarter of 2012. Net sales volume
after treating is expected to be approximately 80 MMcfd at gross production of
100 MMcfd.

Sand Wash Basin

In the Sand Wash Basin, Quicksilver completed its most recent vertical well
with initial production of 400 barrels of oil equivalent per day (Boed), which
was partially restricted due to surface facility limitations. The well
averaged 210 Boed – of which 70% is oil – for the first 30 days of production.
With this well, the company has now found oil-productive Niobrara across a
distance of 35 miles in an east-to-west band on its leasehold in Moffat and
Routt counties.

West Texas

Quicksilver recently completed a second well in its West Texas Project in
Upton County. The well is currently flowing back its load water from the
2,400-foot horizontal well bore which targeted the Wolfcamp formation, but has
shown oil production while in flowback. The Price Ranch #1 well, Quicksilver's
first short lateral well drilled in Pecos County, has averaged 120 Boed over
its first 100 days of production from the Bone Springs formation.

About Quicksilver Resources

Fort Worth, Texas-based Quicksilver Resources is an independent oil and gas
company engaged in the exploration, development and acquisition of oil and
gas, primarily from unconventional reservoirs including gas from shales and
coal beds in North America. The company has U.S. offices in Fort Worth, Texas;
Glen Rose, Texas; Craig, Colorado; Steamboat Springs, Colorado and Cut Bank,
Montana.Quicksilver's Canadian subsidiary, Quicksilver Resources Canada Inc.,
is headquartered in Calgary, Alberta.For more information about Quicksilver
Resources, visit www.qrinc.com.

Forward-Looking Statements

Certain statements contained in this press release and other materials we file
with the SEC, or in other written or oral statements made or to be made by us,
other than statements of historical fact, are "forward-looking statements" as
defined in the Private Securities Litigation Reform Act of
1995.Forward-looking statements give our current expectations or forecasts of
future events.Words such as "may," "assume," "forecast," "position,"
"predict," "strategy," "expect," "intend," "plan," "estimate," "anticipate,"
"believe," "project," "budget," "potential," or "continue," and similar
expressions are used to identify forward-looking statements.They can be
affected by assumptions used or by known or unknown risks or
uncertainties.Consequently, no forward-looking statements can be
guaranteed.Actual results may vary materially.You are cautioned not to place
undue reliance on any forward-looking statements.You should also understand
that it is not possible to predict or identify all such factors and should not
consider the following list to be a complete statement of all potential risks
and uncertainties.Factors that could cause our actual results to differ
materially from the results contemplated by such forward-looking statements
include: changes in general economic conditions; fluctuations in natural gas,
NGL and oil prices; failure or delays in achieving expected production from
exploration and development projects; uncertainties inherent in estimates of
natural gas, NGL and oil reserves and predicting natural gas, NGL and oil
reservoir performance; effects of hedging natural gas, NGL and oil prices;
fluctuations in the value of certain of our assets and liabilities;
competitive conditions in our industry; actions taken or non-performance by
third parties, including suppliers, contractors, operators, processors,
transporters, customers and counterparties; changes in the availability and
cost of capital; delays in obtaining oilfield equipment and increases in
drilling and other service costs; delays in construction of transportation
pipelines and gathering, processing and treating facilities; operating
hazards, natural disasters, weather-related delays, casualty losses and other
matters beyond our control; the effects of existing and future laws and
governmental regulations, including environmental and climate change
requirements; failure or delay in completing strategic transactions; the
effects of existing or future litigation; failure to or delays in completing
Quicksilver's proposed initial public offering of common units representing
limited partner interests in a master limited partnership holding portions of
our Barnett Shale assets; and additional factors described elsewhere in this
press release.

This list of factors is not exhaustive, and new factors may emerge or changes
to these factors may occur that would impact our business.Additional
information regarding these and other factors may be contained in our filings
with the SEC, especially on Forms 10-K, 10-Q and 8-K.All such risk factors
are difficult to predict, and are subject to material uncertainties that may
affect actual results and may be beyond our control.The forward-looking
statements included in this press release are made only as of the date of this
press release, and we undertake no obligation to update any of these
forward-looking statements to reflect subsequent events or circumstances
except to the extent required by applicable law.

All forward-looking statements are expressly qualified in their entirety by
the foregoing cautionary statements.

CONTACT: Investor & Media Contact:
         David Erdman
         (817) 665-4023

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