Quicksilver Resources bid procedures approved; auction set for Dec. 9

By Caroline Salls

Pittsburgh, Oct. 6 – Quicksilver Resources Inc. received court approval of the bid procedures for the proposed sale of all or a part of its assets, according to an order filed Oct. 5 with the U.S. Bankruptcy Court for the District of Delaware.

Bids are due by 5 p.m. ET on Nov. 30.

The auction will be held on Dec. 9, and the sale hearing is scheduled for Dec. 14.

Under the bid procedures, Quicksilver can enter into a stalking horse bid agreement any time before Dec. 1.

As previously reported, the sale of the company’s Canadian assets will be parallel to but separate from the sale of the U.S. assets.

Quicksilver is a Fort Worth-based independent oil and gas exploration and production company. The company filed for bankruptcy on March 17, 2015 under Chapter 11 case number 15-10585.

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