Condensed Consolidating Financial Information (Tables)

6 Months Ended

Jun. 30, 2014

Condensed Consolidating Financial Information [Abstract]



	June 30, 2014
	Quicksilver Resources Inc.			Restricted Guarantor Subsidiaries			Restricted Non- Guarantor Subsidiaries			Restricted Subsidiary Eliminations			Quicksilver and Restricted Subsidiaries			Unrestricted Non- Guarantor Subsidiaries			Fortune Creek		Consolidated Eliminations			Quicksilver Resources Inc. Consolidated
	(In thousands)
ASSETS
Current assets	$	193,099		$	12,274		$	50,718		$	(77,915	)	$	178,176		$	(276	)	$	1,592	$	624		$	180,116
Property and equipment	405,919			14,875			315,107			—			735,901			—			79,430		—			815,331
Investment in subsidiaries (equity method)	(226,530		)	—			(23,083		)	226,530			(23,083		)	(23,105		)	—		46,188			—
Other assets	462,130			—			14,752			(413,282		)	63,600			—			—		—			63,600
Total assets	$	834,618		$	27,149		$	357,494		$	(264,667	)	$	954,594		$	(23,381	)	$	81,022	$	46,812		$	1,059,047

LIABILITIES AND EQUITY
Current liabilities	$	132,097		$	13,000		$	68,977		$	(77,915	)	$	136,159		$	(298	)	$	3,464	$	624		$	139,949
Long-term liabilities	1,812,436			19,242			509,954			(413,282		)	1,928,350			—			1,581		99,083			2,029,014
Stockholders' equity	(1,109,915		)	(5,093		)	(221,437		)	226,530			(1,109,915		)	(23,083		)	75,977		(52,895		)	(1,109,916		)
Total liabilities and equity	$	834,618		$	27,149		$	357,494		$	(264,667	)	$	954,594		$	(23,381	)	$	81,022	$	46,812		$	1,059,047



	December 31, 2013
	Quicksilver Resources Inc.			Restricted Guarantor Subsidiaries			Restricted Non- Guarantor Subsidiaries			Restricted Subsidiary Eliminations			Quicksilver and Restricted Subsidiaries			Unrestricted Non- Guarantor Subsidiaries			Fortune Creek		Consolidated Eliminations			Quicksilver Resources Inc. Consolidated
	(In thousands)
ASSETS
Current assets	$	349,586		$	10,735		$	53,034		$	(19,642	)	$	393,713		$	909		$	1,110	$	(1,772	)	$	393,960
Property and equipment	455,822			15,486			307,865			—			779,173			—			81,632		—			860,805
Investment in subsidiaries (equity method)	(217,852		)	—			(33,840		)	217,852			(33,840		)	(33,840		)	—		67,680			—
Other assets	472,792			—			32,892			(390,723		)	114,961			—			—		—			114,961
Total assets	$	1,060,348		$	26,221		$	359,951		$	(192,513	)	$	1,254,007		$	(32,931	)	$	82,742	$	65,908		$	1,369,726

LIABILITIES AND EQUITY
Current liabilities	$	124,275		$	12,210		$	17,167		$	(19,642	)	$	134,010		$	888		$	1,671	$	(1,772	)	$	134,797
Long-term liabilities	1,942,043			19,242			542,659			(390,723		)	2,113,221			—			1,546		126,132			2,240,899
Stockholders' equity	(1,005,970		)	(5,231		)	(199,875		)	217,852			(993,224		)	(33,819		)	79,525		(58,452		)	(1,005,970		)
Total liabilities and equity	$	1,060,348		$	26,221		$	359,951		$	(192,513	)	$	1,254,007		$	(32,931	)	$	82,742	$	65,908		$	1,369,726

Condensed Consolidating Statements Of Income



	For the Three Months Ended June 30, 2014
	Quicksilver Resources Inc.			Restricted Guarantor Subsidiaries			Restricted Non- Guarantor Subsidiaries			Restricted Subsidiary Eliminations		Quicksilver and Restricted Subsidiaries			Unrestricted Non- Guarantor Subsidiaries		Fortune Creek		Consolidated Eliminations			Quicksilver Resources Inc. Consolidated
	(In thousands)
Revenue	$	85,898		$	411		$	31,723		$	—	$	118,032		$	—	$	4,136	$	(4,136	)	$	118,032
Operating expenses	77,637			356			28,578			—		106,571			—		2,061		(4,136		)	104,496
Equity in net earnings of subsidiaries	(268		)	—			(1,526		)	268		(1,526		)	2,076		—		(550		)	—
Operating income (loss)	7,993			55			1,619			268		9,935			2,076		2,075		(550		)	13,536
Fortune Creek accretion	—			—			—			—		—			—		—		(3,602		)	(3,602		)
Interest expense and other	(41,691		)	—			(970		)	—		(42,661		)	—		1		—			(42,660		)
Income tax (expense) benefit	(2,397		)	(19		)	(953		)	—		(3,369		)	—		—		—			(3,369		)
Net income (loss)	$	(36,095	)	$	36		$	(304	)	$	268	$	(36,095	)	$	2,076	$	2,076	$	(4,152	)	$	(36,095	)
Other comprehensive income (loss)	110			—			(217		)	—		(107		)	—		—		—			(107		)
Equity in OCI of subsidiaries	(217		)	—			—			217		—			—		—		—			—
Comprehensive income (loss)	$	(36,202	)	$	36		$	(521	)	$	485	$	(36,202	)	$	2,076	$	2,076	$	(4,152	)	$	(36,202	)



	For the Three Months Ended June 30, 2013
	Quicksilver Resources Inc.			Restricted Guarantor Subsidiaries		Restricted Non- Guarantor Subsidiaries			Restricted Subsidiary Eliminations		Quicksilver and Restricted Subsidiaries			Unrestricted Non- Guarantor Subsidiaries		Fortune Creek		Consolidated Eliminations			Quicksilver Resources Inc. Consolidated
	(In thousands)
Revenue	$	131,925		$	202	$	43,370		$	—	$	175,497		$	—	$	5,737	$	(5,737	)	$	175,497
Operating expenses	86,194			108		30,740			—		117,042			—		2,470		(5,737		)	113,775
Tokyo Gas Transaction gain	333,172			—		—			—		333,172			—		—		—			333,172
Equity in net earnings of subsidiaries	(8,890		)	—		(1,558		)	8,890		(1,558		)	3,269		—		(1,711		)	—
Operating income (loss)	370,013			94		11,072			8,890		390,069			3,269		3,267		(1,711		)	394,894
Fortune Creek accretion	—			—		—			—		—			—		—		(4,827		)	(4,827		)
Interest expense and other	(122,549		)	—		(19,796		)	—		(142,345		)	—		2		—			(142,343		)
Income tax (expense) benefit	(4,941		)	—		(260		)	—		(5,201		)	—		—		—			(5,201		)
Net income (loss)	$	242,523		$	94	$	(8,984	)	$	8,890	$	242,523		$	3,269	$	3,269	$	(6,538	)	$	242,523
Other comprehensive income (loss)	(11,898		)	—		(2,969		)	—		(14,867		)	—		—		—			(14,867		)
Equity in OCI of subsidiaries	(2,969		)	—		—			2,969		—			—		—		—			—
Comprehensive income (loss)	$	227,656		$	94	$	(11,953	)	$	11,859	$	227,656		$	3,269	$	3,269	$	(6,538	)	$	227,656



	For the Six Months Ended June 30, 2014
	Quicksilver Resources Inc.			Restricted Guarantor Subsidiaries			Restricted Non- Guarantor Subsidiaries			Restricted Subsidiary Eliminations		Quicksilver and Restricted Subsidiaries			Unrestricted Non- Guarantor Subsidiaries		Fortune Creek		Consolidated Eliminations			Quicksilver Resources Inc. Consolidated
	(In thousands)
Revenue	$	148,808		$	785		$	60,225		$	—	$	209,818		$	—	$	9,078	$	(9,078	)	$	209,818
Operating expenses	153,038			647			58,843			—		212,528			—		3,886		(9,078		)	207,336
Equity in net earnings of subsidiaries	(5,957		)	—			(2,808		)	5,957		(2,808		)	5,195		—		(2,387		)	—
Operating income (loss)	(10,187		)	138			(1,426		)	5,957		(5,518		)	5,195		5,192		(2,387		)	2,482
Fortune Creek accretion	—			—			—			—		—			—		—		(8,003		)	(8,003		)
Interest expense and other	(79,702		)	—			(3,688		)	—		(83,390		)	—		3		—			(83,387		)
Income tax (expense) benefit	(5,039		)	(48		)	(933		)	—		(6,020		)	—		—		—			(6,020		)
Net income (loss)	$	(94,928	)	$	90		$	(6,047	)	$	5,957	$	(94,928	)	$	5,195	$	5,195	$	(10,390	)	$	(94,928	)
Other comprehensive income (loss)	(8,688		)	—			(3,524		)	—		(12,212		)	—		—		—			(12,212		)
Equity in OCI of subsidiaries	(3,524		)	—			—			3,524		—			—		—		—			—
Comprehensive income (loss)	$	(107,140	)	$	90		$	(9,571	)	$	9,481	$	(107,140	)	$	5,195	$	5,195	$	(10,390	)	$	(107,140	)



	For the Six Months Ended June 30, 2013
	Quicksilver Resources Inc.			Restricted Guarantor Subsidiaries		Restricted Non- Guarantor Subsidiaries			Restricted Subsidiary Eliminations		Quicksilver and Restricted Subsidiaries			Unrestricted Non- Guarantor Subsidiaries		Fortune Creek		Consolidated Eliminations			Quicksilver Resources Inc. Consolidated
	(In thousands)
Revenue	$	220,826		$	416	$	72,959		$	—	$	294,201		$	—	$	11,062	$	(11,062	)	$	294,201
Operating expenses	183,217			138		59,199			—		242,554			—		4,859		(11,062		)	236,351
Tokyo Gas Transaction gain	333,172			—		—			—		333,172			—		—		—			333,172
Equity in net earnings of subsidiaries	(13,081		)	—		(3,466		)	13,081		(3,466		)	6,206		—		(2,740		)	—
Operating income (loss)	357,700			278		10,294			13,081		381,353			6,206		6,203		(2,740		)	391,022
Fortune Creek accretion	—			—		—			—		—			—		—		(9,672		)	(9,672		)
Interest expense and other	(163,717		)	—		(22,721		)	—		(186,438		)	—		3		—			(186,435		)
Income tax (expense) benefit	(11,165		)	—		(932		)	—		(12,097		)	—		—		—			(12,097		)
Net income (loss)	$	182,818		$	278	$	(13,359	)	$	13,081	$	182,818		$	6,206	$	6,206	$	(12,412	)	$	182,818
Other comprehensive income (loss)	(22,900		)	—		(6,420		)	—		(29,320		)	—		—		—			(29,320		)
Equity in OCI of subsidiaries	(6,420		)	—		—			6,420		—			—		—		—			—
Comprehensive income (loss)	$	153,498		$	278	$	(19,779	)	$	19,501	$	153,498		$	6,206	$	6,206	$	(12,412	)	$	153,498

Condensed Consolidating Statements Of Cash Flows



	For the Six Months Ended June 30, 2014
	Quicksilver Resources Inc.			Restricted Guarantor Subsidiaries			Restricted Non-Guarantor Subsidiaries			Restricted Subsidiary Eliminations			Quicksilver and Restricted Subsidiaries			Unrestricted Non-Guarantor Subsidiaries			Fortune Creek			Consolidated Eliminations			Quicksilver Resources Inc. Consolidated
	(In thousands)
Net cash flow provided by (used in) operating activities	$	(25,494	)	$	(469	)	$	17,652		$	—		$	(8,311	)	$	—		$	7,548		$	—		$	(763	)
Purchases of property, plant and equipment	(70,590		)	—			(17,381		)	—			(87,971		)	—			(21		)	—			(87,992		)
Investment in subsidiary	(56,781		)	—			(26,395		)	56,781			(26,395		)	(26,395		)	—			52,790			—
Proceeds from Southwestern Transaction	93,456			—			—			—			93,456			—			—			—			93,456
Proceeds from sale of properties and equipment	1,420			—			390			—			1,810			—			—			—			1,810
Purchases of marketable securities	(55,890		)	—			—			—			(55,890		)	—			—			—			(55,890		)
Maturities and sales of marketable securities	212,057			—			—			—			212,057			—			—			—			212,057
Net cash flow provided by (used in) investing activities	123,672			—			(43,386		)	56,781			137,067			(26,395		)	(21		)	52,790			163,441
Repayments of debt	(138,651		)	—			(55,038		)	—			(193,689		)	—			—			—			(193,689		)
Debt issuance costs paid	(225		)	—			—			—			(225		)	—			—			—			(225		)
Intercompany note	(22,559		)	—			22,559			—			—			—			—			—			—
Intercompany financing	—			469			56,312			(56,781		)	—			—			—			—			—
Contribution received	—			—			—			—			—			26,395			26,395			(52,790		)	—
Distribution of Fortune Creek Partnership funds	—			—			—			—			—			—			(33,770		)	—			(33,770		)
Purchase of treasury stock	(2,383		)	—			—			—			(2,383		)	—			—			—			(2,383		)
Net cash flow provided by (used in) financing activities	(163,818		)	469			23,833			(56,781		)	(196,297		)	26,395			(7,375		)	(52,790		)	(230,067		)
Effect of exchange rates on cash	—			—			315			—			315			—			255			—			570
Net increase (decrease) in cash and equivalents	(65,640		)	—			(1,586		)	—			(67,226		)	—			407			—			(66,819		)
Cash and equivalents at beginning of period	83,893			—			4,135			—			88,028			22			1,053			—			89,103
Cash and equivalents at end of period	$	18,253		$	—		$	2,549		$	—		$	20,802		$	22		$	1,460		$	—		$	22,284



	For the Six Months Ended June 30, 2013
	Quicksilver Resources Inc.			Restricted Guarantor Subsidiaries			Restricted Non-Guarantor Subsidiaries			Quicksilver and Restricted Subsidiaries			Unrestricted Non-Guarantor Subsidiaries		Fortune Creek			Quicksilver Resources Inc. Consolidated
	(In thousands)
Net cash flow provided by (used in) operating activities	$	(102,770	)	$	(37	)	$	18,791		$	(84,016	)	$	—	$	5,910		$	(78,106	)
Purchases of property, plant and equipment	(36,840		)	37			(18,558		)	(55,361		)	—		(488		)	(55,849		)
Proceeds from Tokyo Gas Transaction	463,418			—			—			$	463,418		—		—			463,418
Proceeds from sale of properties and equipment	1,664			—			17			1,681			—		—			1,681
Purchases of marketable securities	(118,656		)	—			—			$	(118,656	)	—		—			(118,656		)
Net cash flow provided by (used in) investing activities	309,586			37			(18,541		)	291,082			—		(488		)	290,594
Issuance of debt	1,170,266			—			3,040			1,173,306			—		—			1,173,306
Repayments of debt	(1,113,704		)	—			(150,413		)	(1,264,117		)	—		—			(1,264,117		)
Debt issuance costs paid	(25,608		)	—			—			(25,608		)	—		—			(25,608		)
Intercompany note	(147,103		)	—			147,103			—			—		—			—
Distribution of Fortune Creek Partnership funds	—			—			—			—			—		(5,009		)	(5,009		)
Purchase of treasury stock	(1,125		)	—			—			(1,125		)	—		—			(1,125		)
Net cash flow used in financing activities	(117,274		)	—			(270		)	(117,544		)	—		(5,009		)	(122,553		)
Effect of exchange rates on cash	—			—			20			20			—		1,887			1,907
Net increase in cash and equivalents	89,542			—			—			89,542			—		2,300			91,842
Cash and equivalents at beginning of period	4,618			—			—			4,618			—		333			4,951
Cash and equivalents at end of period	$	94,160		$	—		$	—		$	94,160		$	—	$	2,633		$	96,793