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Quicksilver Resources Inc. Message Board

  • richardclovis richardclovis May 8, 2013 5:59 PM Flag

    Zacks Cont...

    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, processing as well as transportation costs, respectively, led to the cost reduction.
    The operating loss in the first quarter narrowed substantially from the prior-year period owing to greater costs savings relative to revenue decline.
    Interest expenses of Quicksilver Resources during the quarter were $43.9 million versus $40.2 million in the prior-year quarter.
    Financials
    Cash and cash equivalents as of Mar 31, 2013 were $9.9 million versus $5.0 million as of Dec 31, 2012.
    Long-term debt climbed 2.2% as of Mar 31, 2013, to $2,108.3 million from $2,063.2 million as of Dec 31, 2012.
    Cash provided by operating activities during the first quarter was $14.4 million versus $27.4 million a year ago.
    The capital cost Quicksilver Resources for the first quarter amounted to $24 million. Out of the total expenditure, $11 million was allocated for drilling and completion activities, $7 million used for acreage purchases and $6 million for interest on capital as well as overhead costs.
    Guidance
    Quicksilver Resources expects production volumes in the second quarter of 2013 to be 282–288 MMcfe per day. For 2013, Quicksilver Resources expects production volume in the range of 290–300 MMcfe per day.
    The company estimates second-quarter production taxes; gathering, processing, and transportation expenses; and lease operating expenses in the corresponding range of 18–21 cents per Mcfe, $1.32–$1.36 per Mcfe and 88–92 cents per Mcfe. General & administrative expenses and depreciation, depletion and amortization expenses are expected to be 50–54 cents per Mcfe and 56–60 cents per Mcfe, respectively.
    It continues to hedge a substantial amount of production to cushion against fluctuating prices. The company has hedged 200 MMcfd for the remainder of 2013 at a weighte

 
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