Condensed Consolidating Financial Information (Tables)

9 Months Ended

Sep. 30, 2014

Condensed Consolidating Financial Information [Abstract]



	September 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	$	338,424		$	13,096		$	65,733		$	(23,193	)	$	394,060		$	(455	)	$	1,746	$	949		$	396,300
Property and equipment	417,921			14,625			305,197			—			737,743			—			74,737		—			812,480
Investment in subsidiaries (equity method)	(227,994		)	—			(23,409		)	227,994			(23,409		)	(23,429		)	—		46,838			—
Other assets	457,285			—			15,473			(413,281		)	59,477			—			—		—			59,477
Total assets	$	985,636		$	27,721		$	362,994		$	(208,480	)	$	1,167,871		$	(23,884	)	$	76,483	$	47,787		$	1,268,257

LIABILITIES AND EQUITY
Current liabilities	$	103,042		$	13,401		$	11,064		$	(23,193	)	$	104,314		$	(475	)	$	3,736	$	949		$	108,524
Long-term liabilities	1,980,078			19,241			575,003			(413,281		)	2,161,041			—			1,525		94,651			2,257,217
Stockholders' equity	(1,097,484		)	(4,921		)	(223,073		)	227,994			(1,097,484		)	(23,409		)	71,222		(47,813		)	(1,097,484		)
Total liabilities and equity	$	985,636		$	27,721		$	362,994		$	(208,480	)	$	1,167,871		$	(23,884	)	$	76,483	$	47,787		$	1,268,257



	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 September 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	$	120,513		$	427		$	42,558		$	—		$	163,498		$	—	$	4,271	$	(4,271	)	$	163,498
Operating expenses	72,868			341			27,648			—			100,857			—		2,128		(4,271		)	98,714
Equity in net earnings of subsidiaries	8,821			—			(1,458		)	(8,821		)	(1,458		)	2,144		—		(686		)	—
Operating income (loss)	56,466			86			13,452			(8,821		)	61,183			2,144		2,143		(686		)	64,784
Fortune Creek accretion	—			—			—			—			—			—		—		(3,602		)	(3,602		)
Interest expense and other	(37,613		)	86			(4,838		)	—			(42,365		)	—		1		—			(42,364		)
Income tax (expense) benefit	4,826			(30		)	65			78			4,939			—		—		—			4,939
Net income (loss)	$	23,679		$	142		$	8,679		$	(8,743	)	$	23,757		$	2,144	$	2,144	$	(4,288	)	$	23,757
Other comprehensive income (loss)	(11,564		)	—			(3,325		)	—			(14,889		)	—		—		—			(14,889		)
Equity in OCI of subsidiaries	(3,325		)	—			—			3,325			—			—		—		—			—
Comprehensive income (loss)	$	8,790		$	142		$	5,354		$	(5,418	)	$	8,868		$	2,144	$	2,144	$	(4,288	)	$	8,868



	For the Three Months Ended September 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	$	114,021		$	192	$	38,903		$	—		$	153,116		$	—	$	5,674	$	(5,674	)	$	153,116
Operating expenses	73,594			68		30,360			—			104,022			—		2,693		(5,674		)	101,041
Tokyo Gas Transaction gain	7,974			—		—			—			7,974			—		—		—			7,974
Equity in net earnings of subsidiaries	3,854			—		(1,834		)	(3,854		)	(1,834		)	2,984		—		(1,150		)	—
Operating income (loss)	52,255			124		6,709			(3,854		)	55,234			2,984		2,981		(1,150		)	60,049
Fortune Creek accretion	—			—		—			—			—			—		—		(4,818		)	(4,818		)
Interest expense and other	(36,922		)	—		(1,769		)	—			(38,691		)	—		3		—			(38,688		)
Income tax (expense) benefit	(4,756		)	—		(1,210		)	—			(5,966		)	—		—		—			(5,966		)
Net income (loss)	$	10,577		$	124	$	3,730		$	(3,854	)	$	10,577		$	2,984	$	2,984	$	(5,968	)	$	10,577
Other comprehensive income (loss)	(6,114		)	—		(2,680		)	—			(8,794		)	—		—		—			(8,794		)
Equity in OCI of subsidiaries	(2,680		)	—		—			2,680			—			—		—		—			—
Comprehensive income (loss)	$	1,783		$	124	$	1,050		$	(1,174	)	$	1,783		$	2,984	$	2,984	$	(5,968	)	$	1,783



	For the Nine Months Ended September 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	$	269,321		$	1,212		$	102,783		$	—		$	373,316		$	—	$	13,349	$	(13,349	)	$	373,316
Operating expenses	225,906			988			86,491			—			313,385			—		6,014		(13,349		)	306,050
Equity in net earnings of subsidiaries	2,864			—			(4,266		)	(2,864		)	(4,266		)	7,339		—		(3,073		)	—
Operating income (loss)	46,279			224			12,026			(2,864		)	55,665			7,339		7,335		(3,073		)	67,266
Fortune Creek accretion	—			—			—			—			—			—		—		(11,605		)	(11,605		)
Interest expense and other	(117,315		)	86			(8,526		)	—			(125,755		)	—		4		—			(125,751		)
Income tax (expense) benefit	(213		)	(78		)	(868		)	78			(1,081		)	—		—		—			(1,081		)
Net income (loss)	$	(71,249	)	$	232		$	2,632		$	(2,786	)	$	(71,171	)	$	7,339	$	7,339	$	(14,678	)	$	(71,171	)
Other comprehensive income (loss)	(20,252		)	—			(6,849		)	—			(27,101		)	—		—		—			(27,101		)
Equity in OCI of subsidiaries	(6,849		)	—			—			6,849			—			—		—		—			—
Comprehensive income (loss)	$	(98,350	)	$	232		$	(4,217	)	$	4,063		$	(98,272	)	$	7,339	$	7,339	$	(14,678	)	$	(98,272	)



	For the Nine Months Ended September 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	$	334,848		$	608	$	111,862		$	—	$	447,318		$	—	$	16,736	$	(16,736	)	$	447,318
Operating expenses	256,810			206		89,559			—		346,575			—		7,552		(16,736		)	337,391
Tokyo Gas Transaction gain	341,146			—		—			—		341,146			—		—		—			341,146
Equity in net earnings of subsidiaries	(9,227		)	—		(5,300		)	9,227		(5,300		)	9,190		—		(3,890		)	—
Operating income (loss)	409,957			402		17,003			9,227		436,589			9,190		9,184		(3,890		)	451,073
Fortune Creek accretion	—			—		—			—		—			—		—		(14,490		)	(14,490		)
Interest expense and other	(200,639		)	—		(24,490		)	—		(225,129		)	—		6		—			(225,123		)
Income tax (expense) benefit	(15,921		)	—		(2,142		)	—		(18,063		)	—		—		—			(18,063		)
Net income (loss)	$	193,397		$	402	$	(9,629	)	$	9,227	$	193,397		$	9,190	$	9,190	$	(18,380	)	$	193,397
Other comprehensive income (loss)	(29,014		)	—		(9,100		)	—		(38,114		)	—		—		—			(38,114		)
Equity in OCI of subsidiaries	(9,100		)	—		—			9,100		—			—		—		—			—
Comprehensive income (loss)	$	155,283		$	402	$	(18,729	)	$	18,327	$	155,283		$	9,190	$	9,190	$	(18,380	)	$	155,283

Condensed Consolidating Statements Of Cash Flows



	For the Nine Months Ended September 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	$	(39,474	)	$	(688	)	$	28,843		$	—		$	(11,319	)	$	—		$	6,336		$	—		$	(4,983	)
Purchases of property, plant and equipment	(88,119		)	(57		)	(23,247		)	—			(111,423		)	—			(21		)	—			(111,444		)
Investment in subsidiary	(1,246		)	—			(26,395		)	1,246			(26,395		)	(26,395		)	—			52,790			—
Proceeds from Southwestern Transaction	95,587			—			—			—			95,587			—			—			—			95,587
Proceeds from sale of properties and equipment	1,445			—			497			—			1,942			—			—			—			1,942
Purchases of marketable securities	(55,890		)	—			—			—			(55,890		)	—			—			—			(55,890		)
Maturities and sales of marketable securities	222,025			—			—			—			222,025			—			—			—			222,025
Net cash flow provided by (used in) investing activities	173,802			(57		)	(49,145		)	1,246			125,846			(26,395		)	(21		)	52,790			152,220
Issuance of debt	174,000			—			69,184			—			243,184			—			—			—			243,184
Repayments of debt	(138,651		)	—			(55,038		)	—			(193,689		)	—			—			—			(193,689		)
Debt issuance costs paid	(225		)	—			—			—			(225		)	—			—			—			(225		)
Intercompany note	(22,558		)	—			22,558			—			—			—			—			—			—
Intercompany financing	—			745			501			(1,246		)	—			—			—			—			—
Contribution received	—			—			—			—			—			26,395			26,395			(52,790		)	—
Distribution of Fortune Creek Partnership funds	—			—			—			—			—			—			(37,113		)	—			(37,113		)
Purchase of treasury stock	(2,388		)	—			—			—			(2,388		)	—			—			—			(2,388		)
Net cash flow provided by (used in) financing activities	10,178			745			37,205			(1,246		)	46,882			26,395			(10,718		)	(52,790		)	9,769
Effect of exchange rates on cash	—			—			(2,718		)	—			(2,718		)	—			4,934			—			2,216
Net increase (decrease) in cash and equivalents	144,506			—			14,185			—			158,691			—			531			—			159,222
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	$	228,399		$	—		$	18,320		$	—		$	246,719		$	22		$	1,584		$	—		$	248,325



	For the Nine Months Ended September 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	$	(113,029	)	$	(19	)	$	25,517		$	(87,531	)	$	—	$	6,428		$	(81,103	)
Purchases of property, plant and equipment	(53,291		)	19			(24,752		)	(78,024		)	—		(525		)	(78,549		)
Proceeds from Tokyo Gas Transaction	463,418			—			—			$	463,418		—		—			463,418
Proceeds from Synergy transaction	42,297			—			—			42,297			—		—			42,297
Proceeds from sale of properties and equipment	2,977			—			17			2,994			—		—			2,994
Purchases of marketable securities	(142,823		)	—			—			$	(142,823	)	—		—			(142,823		)
Maturities and sales of marketable securities	13,178			—			—			$	13,178		—		—			13,178
Net cash flow provided by (used in) investing activities	325,756			19			(24,735		)	301,040			—		(525		)	300,515
Issuance of debt	1,170,266			—			3,040			1,173,306			—		—			1,173,306
Repayments of debt	(1,157,969		)	—			(150,413		)	(1,308,382		)	—		—			(1,308,382		)
Debt issuance costs paid	(25,868		)	—			—			(25,868		)	—		—			(25,868		)
Intercompany note	(147,103		)	—			147,103			—			—		—			—
Distribution of Fortune Creek Partnership funds	—			—			—			—			—		(8,079		)	(8,079		)
Purchase of treasury stock	(1,472		)	—			—			(1,472		)	—		—			(1,472		)
Net cash flow used in financing activities	(162,146		)	—			(270		)	(162,416		)	—		(8,079		)	(170,495		)
Effect of exchange rates on cash	—			—			(512		)	(512		)	—		3,122			2,610
Net increase in cash and equivalents	50,581			—			—			50,581			—		946			51,527
Cash and equivalents at beginning of period	4,618			—			—			4,618			—		333			4,951
Cash and equivalents at end of period	$	55,199		$	—		$	—		$	55,199		$	—	$	1,279		$	56,478