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Quicksilver Resources borrowing base reaffirmed at $350MNovember 18, 2013
Quicksilver Resources Inc. of Fort Worth has announced that its bank group comprising 20 lenders has reaffirmed the $350 million global borrowing base on the company's combined credit agreements.
The company also closed an amendment to its combined credit agreements on Nov. 15, 2013, which amended the minimum interest coverage ratio in fourth quarter 2013 through the second quarter of 2014 to 1.10x.
As of Oct. 31, 2013, the company had combined liquidity of $341 million comprised of availability under the combined credit agreements and cash and short-term investments.
Quicksilver Resources Inc. specializes in the exploration, development and acquisition of oil and gas from shale plays, coal beds and sands in North America. More information is available at www.qrinc.com.