Transactions With Related Parties

9 Months Ended

Sep. 30, 2011

Transactions With Related Parties [Abstract]

Transactions With Related Parties

13.  TRANSACTIONS WITH RELATED PARTIES

          As of September 30, 2011, members of the Darden family and entities controlled by them beneficially owned approximately 32% of our outstanding common stock.  Thomas Darden, Glenn Darden and Anne Darden Self are officers and directors of Quicksilver.

          We paid $0.1 million and $0.7 million in the first nine months of 2011 and 2010, respectively, for rent on buildings, including a manufacturing facility, owned by entities controlled by members of the Darden family.  Rental rates were determined based on comparable rates charged by third parties.  In October 2011, we agreed to purchase the manufacturing facility from an entity controlled by members of the Darden family for $1.1 million.  We previously leased this facility from the seller for the manufacture of oil and gas equipment.

          We paid $0.6 million for the nine months ended September 30, 2011 and 2010 for use of an airplane owned by an entity controlled by members of the Darden family.  Usage rates were determined based upon comparable rates charged by third parties.

          Payments received from Mercury for sublease rentals, employee insurance coverage and administrative services were $0.3 million for the first nine months of 2010.  In late 2010, Mercury changed carriers for its employees' health insurance plan, thereby reducing our charges to, and payments from, Mercury.  The payments received from Mercury in 2011 were negligible.