Quicksilver Resources Inc. announced the commencement of a solicitation of consents upon the terms and subject to the conditions in a Consent Solicitation Statement and the accompanying Form of Consent each dated as of May 23, 2013, to certain proposed amendments to the indenture, dated as of December 22, 2005, among Quicksilver, the subsidiary guarantors party thereto and The Bank of New York Mellon Trust Company, N.A. as trustee as supplemented by an Eighth Supplemental Indenture dated as of August 14, 2009, a Twelfth Supplemental Indenture dated as of December 23, 2011, a Sixteenth Supplemental Indenture, dated as of February 28, 2012 and a Twentieth Supplemental Indenture dated as of June 13, 2012, governing its 9 1/8% Senior Notes due 2019. The Proposed Amendments would amend the Indenture to permit Quicksilver to refinance its 7 1/8% Senior Subordinated Notes due 2016, its 11 3/4% Senior Notes due 2016 and its 8 1/4% Senior Notes due 2015 by incurring indebtedness that ranks equally in right of payment to, but with longer maturities than, the 2019 Senior Notes, to permit any such refinancing of the 2016 Subordinated Notes prior to their maturity to be excluded from the covenant regarding limitation on restricted payments in the Indenture and to give Quicksilver greater flexibility to incur secured and unsecured indebtedness pursuant to offerings of debt securities in connection with such refinancing or otherwise. The Proposed Amendments will be effected by a supplemental indenture to the Indenture that is described in more detail in the Statement. The Solicitation will expire at 5:00 p.m., Eastern Time, on June 6, 2013, unless otherwise extended or earlier terminated. The Solicitation is subject to customary conditions, including, among other things, the receipt of valid Consents with respect to a majority in aggregate principal amount of the outstanding 2019 Senior Notes prior to the Expiration Time.

Quicksilver Resources Inc. announced the commencement of cash tender offers relating to any and all of its $350,000,000 current outstanding principal amount of 7 1/8% Senior Subordinated Notes due 2016, its $590,620,000 current outstanding principal amount of 11 3/4% Senior Notes due 2016 and its $438,000,000 current outstanding principal amount of 8 1/4% Senior Notes due 2015 and its solicitation of consents from the holders of the Notes to adopt certain amendments to the indentures governing the Notes. The tender offers are scheduled to expire at 11:59 P.M., Eastern Time, on June 20, 2013, unless extended or earlier terminated. Holders who validly tender their Notes and deliver their consents by 5:00 P.M., Eastern Time, on June 6, 2013, unless extended or earlier terminated will receive $1,015.63, $1,068.00 and $1,027.90 per $1,000 principal amount of 2016 Subordinated Notes, 2016 Senior Notes and 2015 Senior Notes, respectively, if such Notes are accepted for purchase, which includes an early tender payment of $30.00 per $1,000 principal amount of Notes. Holders who validly tender their Notes and deliver their consents after the Early Tender Deadline but on or before the Expiration Time will receive $985.63, $1,038.00 and $997.90 per $1,000 principal amount of 2016 Subordinated Notes, 2016 Senior Notes and 2015 Senior Notes, respectively, if such Notes are accepted for purchase. Holders whose tendered Notes are accepted for purchase will also receive accrued and unpaid interest from the most recent interest payment date for the Notes, to, but not including, the applicable payment date for the Notes in the tender offers. Holders who validly tender their Notes and deliver their consents and whose Notes are accepted for purchase will receive payment promptly after the Expiration Time.

Quicksilver Resources Inc. announced that it is launching a loan syndication for a new $600 million senior secured second priority term loan facility maturing in 2019. There can be no assurance Quicksilver will receive commitments for the $600 million of the Second Priority Term Loan Facility or as to the terms of such facility. In addition, the closing of the Second Priority Term Loan Facility will be subject to customary conditions and there can be no assurance that the closing of the Second Priority Term Loan Facility will occur. If consummated, the proceeds of the Second Priority Term Loan Facility are expected to be used, together with any other debt financing transactions Quicksilver may undertake, to purchase the Notes tendered in the Tender Offer and pay the related consent payments, if any, and fees and expenses in connection therewith. Quicksilver is currently contemplating an offering of senior unsecured notes in an aggregate principal amount up to $675 million and an offering of senior second priority secured notes in an aggregate principal amount up to $200 million, subject to market conditions, in addition to the Second Priority Term Loan Facility. There can be no assurance that Quicksilver will be able to complete any offering of notes.