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VOLUNTARY PETITION
District of Delaware
IZIPCODB
I
Location of Principal Assets of Business Debtor (if different from street address above):
Type of Debtor
(Fonn of Organization)
(Check one box.)
0
~
0
0
Chapter 15 Debton
Country of debtor's center of main interests:
D
0
0
D
0
0
Each country in whieh a foreign proceeding by, regarding, or
against debtor is pending:
flJPCODB
Chapter of Bankruptty Code Uader Whicll
the Petitioa 11 Filed (Check oae box.)
D
0
IJJ
Chapter7
Chapter9
Chapter II
Chapter 12
Chapterl3
Main Proceeding
Chapter 15 Petition for
Recognition of a Foreign
NollDIBin Proceeding
Nature of Debts
(Check oae box.)
Debts are primarily consumer Ill Debts are
primarily
debts, defined in 11 u.s.c.
101(8) as "incurred by an
business debts.
individual primarily for a
personal, family, or
household purpose."
Chapter 11 Debton
IJI
IZIPCODE
Nature ofBusille11
(Check one box.)
~JPCODE
Check If:
Debtor's aggregate noncontingent liquidated debts (excluding debts owed to
insiders or affiliates) are less 1han $2,490,925 (41tlount subject to adjustment
on4101/16 and every three years thereafter).
Debtor estimates that fimds will be available for disttibution to unsecun:d creditors.
Debtor estimates that, a&r any exempt property is excluded and administrative expenses paid, there will be no funds available for
distn'bution to unsecured creditors.
Estimated Number of Creditors
1-49
50-99
100-199
200-999
1;21
1,0005,000
5,00110,000
10,00125,000
25,00150,000
50,001100,000
Over
100,000
$10,000,001
to $50
million
$50,000,001
to $IOO
million
$100,000,001
to $500
million
$500,000,001
to $1 billion
IJI
Estimated Assets
0
so to
$50,000
$50,001 to
$100,000
SIOO,OOI to
$500,000
$500,001
to $1
million
$1,000,001
to$10
million
$50,001 to
$100,000
$100,001 to
$500,000
$500,001
to SI
million
$1,000,001
to $10
million
More than
$1 billion
Estimated Liabilities
$0 to
$50,000
$10,000,001
to $50
million
$50,000,001
to $100
million
$100,000,001
to $500
million
$500,000,001
to Sl billion
ttl
More than
$1 billion
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[If debtor is required to file periodic reports (e.g. forms 10K and 10Q) with the Securities and Exchange Commission pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934 and is requesting relief under chapter 11 of the Bankruptcy Code,
this Exhibit "A" shall be completed and attached to the petition.]
Case No.
Chapter
Debtor(s)
2. The following financial data is the latest available information and refers to the debtor's condition on December 31, 2014.
a. Total assets
1,214,302,000
2,352,173,000
Secured/
Unsecured/
Subordinated
CUSIP
Subordinated
74837RAC8
Unsecured
74837RAK0
Unsecured
74837RAG9
U7486PAA7
&
74837RAH7
Secured
Amount
Outstanding
Interest Rate
$350,000,000
7.125%
$325,000,000
11%
$298,000,000
9.125%
$200,000,000
Floating
Description
Senior Subordinated Notes
Maturity
Approximate
Date
number of holders
1 Apr
2016
Unknown
1 Jul
2021
Unknown
15 Aug
2019
Unknown
21 Jun
2019
Unknown
Approximate
number of
holders:
180,358,622
Unknown
Comments, if any:
3. Brief description of Debtor's business:
An independent natural gas and oil company engaged in the acquisition, exploration, development and production of
onshore oil and natural gas in North America.
4. List the name of any person who directly or indirectly owns, controls, or holds, with power to vote, 5% or more of the voting
securities of debtor:
To the best of the Debtors knowledge and belief, based on publicly filed disclosures, the following individuals and
entities, either individually or collectively, directly or indirectly own, control, or hold 5% or more of the voting
securities of the Debtor: Quicksilver Energy L.P., Thomas F. Darden, Pennsylvania Management, LLC, Glenn Darden,
Anne Darden Self and Mount Kellett Capital Management LP.
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In re:
Quicksilver Resources Inc.,
Debtor.
)
)
)
)
)
)
)
Chapter 11
Case No. 15-__________ ( )
Tax I.D. No. 75-2756163
Name of Creditor
Nature of Claim
(Trade Debt, bank
loan, government
contract, etc.)
Indicate if Claim
is Contingent,
Disputed,
Unliquidated or
subject to setoff
Amount of Claim
Wilmington Trust
National Association
Peter Finkel
50 South Sixth Street, Ste 1290
Minneapolis, MN 55402
Fax: 612-217-5651
PFinkel@WilmingtonTrust.com
7 1/8% Senior
Subordinated Notes
due 2016
$361,568,229
11.000% Senior
Notes due 2021
$332,646,528
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Nature of Claim
(Trade Debt, bank
loan, government
contract, etc.)
Indicate if Claim
is Contingent,
Disputed,
Unliquidated or
subject to setoff
9 1/8% Senior
Notes due 2019
Amount of Claim
$312,729,271
Oasis Pipeline LP
Roy Patton
P.O. Box 951439
Dallas, TX 75395-1439
Fax: 281-260-5642
Tel: 210-403-7300
Trade
Contingent
$1,333,357
Roy Patton
P.O. Box 951439
Dallas TX 75395-1439
Fax: 281-260-5642
Tel: 210-403-7300
Trade
Contingent
$1,032,767
Pinnergy Ltd
Trade
Contingent
$970,623
Shelly Corman
P.O. Box 201203
Houston, TX 77216-1203
Tel: 713-989-2410
Fax: 713-989-1177
Trade
Contingent
$623,266
Hunter Battle
P.O. Box 730155
Dallas, TX 75373-0155
Tel: 713-584-1443
Fax: 713-554-1110
Trade
Contingent
$380,480
Trade
10
Midcontinent Express
Pipeline LLC
Andy Edling
500 Dallas St
Ste 1000
Houston, TX 77002
Tel: 713-495-2861
Fax: 713-369-9365
Trade
Contingent
$241,123
11
Mike Burdett
P.O. Box 306
Eastlake, CO 80614
Tel: 303-450-1067
Trade
Contingent
$148,781
12
Sherlyn Schumack
4800 Fournace Place
Bellaire, TX 77401
Tel: 713-432-2871
Fax: 866-999-5604
sherlyn.schumack@oneok.com
Trade
Contingent
$147,871
$281,229
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Nature of Claim
(Trade Debt, bank
loan, government
contract, etc.)
Indicate if Claim
is Contingent,
Disputed,
Unliquidated or
subject to setoff
Amount of Claim
13
Roy Patton
P.O. Box 951439
Dallas, TX 75395-1439
Tel: 210-403-7363
Trade
Contingent
$130,116
14
Mike Burdett
P.O. Box 202941
Dallas, TX 75320-2941
Tel: 214-953-9548
Fax: 214-953-9501
Trade
Contingent
$98,204
15
Corpro Inc.
16
17
Nupur Kumar
Worldwide Plaza
825 Eighth Avenue
New York, NY 10019-7475
Tel: 212-474-1000
Fax: 212-474-3700
18
19
Professional
Trade
$80,043
Contingent
$58,146
Professional
$43,571
Trade
$41,505
Meridian Compensation
Partners LLC
Michael Brittian
25676 Network Place
Chicago, IL 60673-1256
Tel: 847-235-3616
Fax: 847-235-3648
Professional
$35,424
20
Knowledgelake Inc.
Zach Lewis
6 City Place Dr
Ste 500
St Louis, MO 63141
Tel: 817-810-0802
Fax: 314-898-0501
zach.lewis@knowledgelake.com
Trade
$31,909
21
James Lampley
P.O. Box 663
Bryan, TX 77806
Tel: 979-778-8850
Trade
$31,281
22
David Ojo
SAI Global Compliance Inc
Forrest Road Office Centre
210 Route 4 East, Suite 103
Paramus, NJ 07652
Tel: 609-955-5100
Fax: 609-924-9207
Trade
$27,800
23
Trade
$10,000
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Nature of Claim
(Trade Debt, bank
loan, government
contract, etc.)
Indicate if Claim
is Contingent,
Disputed,
Unliquidated or
subject to setoff
Amount of Claim
24
GlobeNewswire
Jennifer Segal
Service Account Manager
325 Donald Lynch Boulevard, Suite
120
Marlborough, MA 01752
Tel: 508-804-2136
Trade
$8,392
25
Anthony Boyd
2202 No. Westshore Blvd. Suite 650
Tampa, Florida 33607
Tel: 813-227-4500
Fax: 813-227-4501
Trade
$8,373
26
Sharon Melton
15301 Dallas Parkway, Ste 225
Addison, TX, 75001
Tel: 682.518.6754
Fax: 201-307-0878
sharon.melton@lhh.com
Professional
$6,930
27
Trade
$6,678
28
SNI Financial
Beth Ryan
14241 Dallas Parkway, Ste 550
Dallas, TX 75254
Tel: 972-720-1020
Fax: 972-720-1023
Contractor
$6,610
29
Independence Water LP
Blair Viertel
13600 Heritage Pkwy, Ste 200
Fort Worth, TX 76177
Tel: 817-224-6060
Fax: 817-224-6000
Trade
30
Trade
Contingent
$5,000
$3,976
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In re:
Quicksilver Resources Inc.,
Debtor.
)
)
)
)
)
)
)
Chapter 11
Case No. 15-__________ ( )
Tax I.D. No. 75-2756163
Case 15-10585
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Case 15-10585
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In re:
Quicksilver Resources Inc.,
Debtor.
)
)
)
)
)
)
)
Chapter 11
Case No. 15-__________ ( )
Tax I.D. No. 75-2756163
Case 15-10585
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Chapter 11 Filing
WHEREAS, the Board of Directors (the Board) of Quicksilver Resources Inc. (the
Company) has reviewed and considered the materials presented by the Companys
management team, including its Strategic Alternatives Officer, and financial and legal advisors,
including, but not limited to, the presentation made by Houlihan Lokey (Houlihan), the
financial advisor and investment banker to the Company, and Akin Gump Strauss Hauer & Feld
LLP (Akin Gump), legal counsel to the Company, prior to or on the date hereof regarding,
among other things, (i) the liabilities, assets, and liquidity of the Company, (ii) the strategic
alternatives available to the Company, (iii) the potential impact (financial and otherwise) of the
foregoing on the Companys business; and (iv) the business and prospects of, and alternatives
available to, the Company;
WHEREAS, in connection with the Boards consideration of the Companys liabilities,
assets, liquidity, strategic alternatives and the impact thereof on the Companys business and
prospects, and alternatives available to the Company, the Board has reviewed and evaluated each
of the potential financing and/or restructuring alternatives available to the Company, including,
but not limited to: (i) an equity or debt (including debtor in possession) financing; (ii) a
reorganization; (iii) a recapitalization or a refinancing, amendment or exchange of, or tender
offer for, the Companys existing indebtedness or any of its capital stock, in each case, whether
in-court or out-of court and/or whether pursuant to a pre-negotiated or pre-planned restructuring
plan or proposal or otherwise; (iv) a sale of certain assets of the Company; (v) seeking relief
under chapter 11 of title 11 of the United States Code (the Bankruptcy Code) and the filing of
a voluntary petition pursuant thereto; and (vi) any other strategic alternatives available to the
Company (collectively, the Restructuring Alternatives), which may include, but are not
limited to, entering into or otherwise approving one or more agreements to effectuate any of the
foregoing Restructuring Alternatives;
WHEREAS, the Board has had the opportunity to consult with the Companys
management team and financial and legal advisors and fully consider each of the strategic
alternatives available to the Company, including, but not limited to, each of the Restructuring
Alternatives;
WHEREAS, the Board has the power and authority to approve any of the Restructuring
Alternatives and any other strategic alternatives available the Company;
WHEREAS, as a result of impending debt maturities and potential events of default
thereunder, that will result in the Company being unable to continue operating without protection
from creditors, it has been determined that the filing of a voluntary petition seeking relief under
chapter 11 of the Bankruptcy Code is in the best interests of the Company, its creditors,
employees, stockholders and other interested parties;
NOW, THEREFORE, BE IT RESOLVED, that upon the recommendation of the legal
and financial advisors to the Company and in the business judgment of the Board, it is advisable
and in the best interests of the Company and necessary and convenient to the purpose, conduct,
promotion, or attainment of the business and affairs of the Company to approve and to file a
petition seeking relief under the provisions of the Bankruptcy Code;
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RESOLVED FURTHER, that the President and Chief Executive Officer, the Chief
Financial Officer and the Strategic Alternatives Officer of the Company (each, an Authorized
Officer), acting alone or with one or more other Authorized Officers, with the power of
delegation, be, and they hereby are, authorized and empowered on behalf of, and in the name of,
the Company to execute, verify, and certify a petition under chapter 11 of the Bankruptcy Code
and all other petitions, motions, pleadings, applications, exhibits, schedules, lists, papers,
instruments, or documents, and to take any and all actions that they deem necessary or proper to
obtain such relief under the provisions of the Bankruptcy Code, including, but not limited to, any
action necessary to maintain the ordinary course operation of the Companys businesses, and to
cause the same to be filed in the United States Bankruptcy Court for the District of Delaware, at
such time as any of the Authorized Officers shall determine;
RESOLVED FURTHER, that the Authorized Officers be, and they hereby are,
authorized and empowered to employ and engage Houlihan as financial advisor to represent and
assist the Company in carrying out its duties under the Bankruptcy Code and to take any and all
actions to advance the Companys rights and obligations and, in connection therewith, the
Authorized Officers, acting alone or with one or more other Authorized Officers, with the power
of delegation, be, and they hereby are, authorized and empowered on behalf of, and in the name
of, the Company to execute appropriate retention agreements, to pay appropriate retainers and to
cause to be filed an appropriate application for authority to retain the services of Houlihan;
RESOLVED FURTHER, that the Authorized Officers be, and they hereby are,
authorized and empowered to employ and engage John Little of Deloitte Transactions and
Analytics LLP (Deloitte), who shall continue to serve in his role as strategic alternatives
officer for the Company and shall assist the Company in carrying out its duties under the
Bankruptcy Code and to take any and all actions to advance the Companys rights and
obligations and, in connection therewith, the Authorized Officers, acting alone or with one or
more other Authorized Officers, with the power of delegation, be, and they hereby are,
authorized and empowered on behalf of, and in the name of, the Company to execute appropriate
retention agreements, to pay appropriate retainers and to cause to be filed an appropriate
application for authority to retain the services of Deloitte and Mr. Little;
RESOLVED FURTHER, that the Authorized Officers be, and they hereby are,
authorized and empowered to employ and engage Akin Gump as legal counsel to represent and
assist the Company in carrying out its duties under the Bankruptcy Code and to take any and all
actions to advance the Companys rights and obligations and, in connection therewith, the
Authorized Officers, acting alone or with one or more other Authorized Officers, with the power
of delegation, be, and they hereby are, authorized and empowered on behalf of, and in the name
of, the Company to execute appropriate retention agreements, to pay appropriate retainers and to
cause to be filed an appropriate application for authority to retain the services of Akin Gump;
RESOLVED FURTHER, that the Authorized Officers be, and they hereby are,
authorized and empowered to employ and engage Richards Layton & Finger, P.A. as legal
co-counsel to represent and assist the Company in carrying out its duties under the Bankruptcy
Code and to take any and all actions to advance the Companys rights and obligations and, in
connection therewith, the Authorized Officers, acting alone or with one or more other
Authorized Officers, with the power of delegation, be, and they hereby are, authorized and
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empowered on behalf of, and in the name of, the Company to execute appropriate retention
agreements, to pay appropriate retainers and to cause to be filed an appropriate application for
authority to retain the services of Richards Layton & Finger, P.A.;
RESOLVED FURTHER, that the Authorized Officers be, and they hereby are,
authorized and empowered to employ and engage GCG, Inc. (GCG) to provide consulting
services to the Company, including, but not limited to, noticing, claims management and
reconciliation, plan solicitation, balloting, disbursements, and assisting with the preparation of
the Companys schedules of assets and liabilities and a statement of financial affairs, and any
other services agreed upon by the parties relating to the Companys duties under the Bankruptcy
Code and, in connection therewith, the Authorized Officers, acting alone or with one or more
other Authorized Officers, with the power of delegation, be, and they hereby are, authorized and
empowered on behalf of, and in the name of, the Company to execute appropriate retention
agreements, to pay appropriate retainers and to cause to be filed an appropriate application for
authority to retain the services of GCG;
RESOLVED FURTHER, that the Authorized Officers be, and they hereby are,
authorized and empowered to employ and engage any other legal counsel, accountants, financial
advisors, and other professionals to represent and assist the Company in carrying out its duties
under the Bankruptcy Code and to take any and all actions to advance the Companys rights and
obligations and, in connection therewith, the Authorized Officers, acting alone or with one or
more other Authorized Officers, with the power of delegation, be, and they hereby are,
authorized and empowered on behalf of, and in the name of, the Company to execute appropriate
retention agreements, to pay appropriate retainers and to cause to be filed an appropriate
application for authority to retain the services of such other legal counsel, accountants, financial
advisors, and other professionals;
RESOLVED FURTHER, that the Authorized Officers acting alone or with one or more
other Authorized Officers, with the power of delegation, be, and they hereby are, authorized, and
empowered on behalf of, and in the name of, the Company (i) to take or cause to be taken any
and all such further actions and to prepare, execute and deliver or cause to be prepared, executed
and delivered and, where necessary or appropriate, to file or cause to be filed with the
appropriate governmental authorities, all such other petitions, motions, pleadings, applications,
exhibits, schedules, lists, papers, instruments, and documents; (ii) to incur and pay or cause to be
paid all fees, expenses, and taxes; and (iii) to engage such persons as such Authorized Officer, in
his or her sole discretion, may determine to be necessary or appropriate to carry out fully the
intent and purposes of the foregoing resolutions and each of the transactions contemplated
thereby, in each case, including any such petitions, motions, pleadings, applications, exhibits,
schedules, lists, papers, instruments, and documents contemplated by the foregoing resolutions
and each of the transactions contemplated thereby, in each case, such determination to be
conclusively established by the taking or causing of any such further actions;
RESOLVED FURTHER, that, to the extent the approval of the Company in its capacity
as a stockholder, shareholder, trustee, equity holder, managing member, sole member, general
partner, limited partner or member of any entity is required for such entity to execute, to deliver
and to perform any of its obligations contemplated by these resolutions or the transactions
contemplated hereby, the Board hereby so approves and consents thereto;
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RESOLVED FURTHER, that all acts, actions, and transactions relating to the matters
contemplated by the foregoing resolutions done in the name of and on behalf of the Company,
which acts would have been approved by the foregoing resolutions except that such acts were
taken before these resolutions were approved or certified, are hereby in all respects authorized,
approved, ratified, confirmed, and adopted as acts of the Company;
RESOLVED FURTHER, that the signature of any Authorized Officer on any petition,
motion, pleading, application, exhibit, schedule, instrument, document, certificate, agreement or
other writing shall constitute conclusive evidence that such Authorized Officer deemed such act
or thing to be necessary, advisable or appropriate; and
RESOLVED FURTHER, that the secretary, any assistant secretary or any other proper
officer of the Company, acting alone or with one or more other Authorized Officers, with the
power of delegation, be, and they hereby are, authorized and empowered on behalf of, and in the
name of, the Company to certify and to furnish such copies of these resolutions as may be
necessary and such statements of incumbency of the officers of the Company as may be
requested.