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Quicksilver Resources Inc. Reports Operating Results (10-Q)

August 09, 2012 | About:

Quicksilver Resources Inc. (KWK) filed Quarterly Report for the period ended 2012-06-30.

Quicksilver Resources Inc has a market cap of $760.3 million; its shares were traded at around $4.75 with a P/E ratio of 439 and P/S ratio of 0.8.

Highlight of Business Operations:

Utilization of derivatives to hedge our sales of natural gas and NGL may result in realized prices varying from market prices that we receive from the sale of our production. Our production revenue for the 2012 quarter and 2011 quarter was higher by $56.5 million and $15.7 million, respectively, because of our hedging activities.

We recorded our portion of BBEPs earnings during the quarter in which its financial statements became publicly available. As a result, our 2011 quarter results of operations included BBEPs earnings for the three months ended March 31, 2011. We sold the last of our BBEP Units in the fourth quarter of 2011.

Utilization of derivatives to hedge our sales of natural gas and NGL may result in realized prices varying from market prices that we receive from the sale of our production. Our production revenue for the 2012 period and 2011 period was higher by $105.4 million and $39.7 million, respectively, because of our hedging activities.

We recorded our portion of BBEPs earnings during the quarter in which its financial statements became publicly available. As a result, our 2011 period results of operations included BBEPs earnings for the six months ended March 31, 2011. We sold the last of our BBEP Units in the fourth quarter of 2011.

Managements discussion and analysis of financial condition and results of operations are based on our condensed consolidated interim financial statements and related footnotes contained within this report. The process of preparing financial statements in conformity with GAAP requires the use of estimates and assumptions to determine certain of the assets, liabilities, revenue and expense. Our more critical accounting estimates used in the preparation of the consolidated financial statements were discussed in our 2011 Annual Report on Form 10-K. These critical estimates, for which no significant changes occurred during the six months ended June, 2012, include estimates and assumptions for:

Read the The complete Report

About the author:

10qk
Charlie Tian, Ph.D. - Founder of GuruFocus. You can now pre-order his book Invest Like a Guru on Amazon.

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