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Quicksilver Resources Inc. Message Board

  • richardclovis richardclovis May 8, 2013 5:58 PM Flag


    For what it's worth AH....down 1.73% @ $2.27 on small volume 131,173 shares...

    Quicksilver Resources Inc. ( KWK - Analyst Report ) posted a loss per share of 4 cents in the first quarter of 2013 versus a loss of 9 cents in the year-ago quarter. The reported loss was wider than the Zacks Consensus Estimate of a loss of 2 cents. Earnings underperformed on account of decline in drilling activities, diminished output volume and fall in natural gas liquids (NGL) prices.

    On a GAAP basis, the company reported a loss of 35 cents per share compared with a loss of $1.24 per share in the year-ago quarter. The difference between GAAP and operating loss during the quarter was due to a 39 cent charge associated with inventory adjustment, unrealized derivative losses, valuation allowance on deferred tax and other offset by an 8 cent gain from income tax expense adjustments.

    Total Revenue

    Quicksilver Resources overall revenue at the end of first-quarter 2013 was $118.7 million, down 31.3% from the year-ago quarter. The year-over-year decline in revenue was mainly due to lower production and weak crude oil and natural gas liquids prices.

    Reported quarter revenues fell short of the Zacks Consensus Estimate by 22.7%.

    Operational Update

    Quicksilver Resources achieved overall average daily production of 357.5 million cubic feet of natural gas equivalent (MMcfe) in the first quarter, down 5.2% from the prior-year period. This was due to a drop in production activities in the U.S., partially offset by rise in output levels from the Canadian operations.

    Total realized prices during the quarter declined 11.8% year over year to $4.42 per thousand cubic feet (Mcfe), resulting from 36.2%, 7.4%, 2.1% downswings in NGL, oil and natural gas prices, respectively.

    Total expenses incurred by Quicksilver Resources during the reported quarter plunged 74.6% year over year to $122.6 million. A 38%, 14% and 8% decrease in the cost of natural gas purchase, lease operating expense and gathering, p


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