Quicksilver Resources Inc. announced that its bank group has increased the borrowing base on the company´s senior secured revolving credit facility to $1 billion, based upon oil and gas reserves as of December 31, 2007. The new borrowing base, which represents an additional $250 million in liquidity, is allocated between U.S. and Canadian funds. JPMorgan Chase Bank, N.A. and Bank of America, N.A. led the group of 23 lenders. The credit facility provides for revolving loans, swingline loans and letters of credit from time to time in an aggregate amount not to exceed the borrowing base. The lenders have agreed to $1.2 billion of revolving credit commitments and the company has the option to increase the facility to $1.45 billion with consent of the lenders. The company can extend the facility, which matures February 9, 2012, up to two additional years with requisite lender consent.

Quicksilver Resources Inc. announced earnings results for the first quarter ended March 31, 2008. For the period, the company reported total revenues of $157.5 million and net income of $42.1 million or $0.25 per share against total revenues of $116.5 million and net income of $22.8 million or $0.14 per share for the same period a year ago.

Quicksilver Resources Inc., Q1 2008 Earnings/Operating Results Call, May-07-2008