Each one in plain English, with the numbers worked through for a shareholder.
10 Nov 2011substantial holder notice● Neutral
Southeastern Asset Management, Inc. I.D. No, Longleaf Partners Small-Cap Fund I.D. No, O. Mason Hawkins I.D. No. XXX-XX-XXXX disclosed a new substantial QUICKSILVER RESOURCES INC shareholding (10.30% of votes).
Holders of 99.9% of Quicksilver's 2004 convertible debentures exercised their contractual right to force an early $150 million redemption, which Quicksilver paid by drawing on its revolver -- a routine bondholder put, but one more draw on the credit line.
Quicksilver replaced its revolving credit facility with new $1.25 billion U.S. and $500 million Canadian credit agreements, with borrowing bases of $850 million and C$225 million respectively, reset every six months against reserve engineering reports -- the same reserve-linked borrowing-base mechanism that would later force credit cuts as gas prices stayed weak.
QUICKSILVER RESOURCES INC shareholders approved the routine matters put to a vote at the company's annual meeting (director elections, auditor ratification, and the executive-pay advisory vote).
Quicksilver's Canadian subsidiary agreed to have TransCanada's NOVA Gas Transmission build a pipeline (the Horn River Mainline) to move its new Horn River Basin gas to market, backing NGTL's roughly CAN$295 million in project costs with financial guarantees -- Quicksilver's next growth bet after the Barnett Shale, this time in British Columbia shale gas.
QUICKSILVER RESOURCES INC shareholders approved the routine matters put to a vote at the company's annual meeting (director elections, auditor ratification, and the executive-pay advisory vote).
Quicksilver Energy, L.P, Pennsylvania Management, LLC, Glenn Darden, Thomas F. Darden, Anne Darden Self reported a QUICKSILVER RESOURCES INC shareholding of 45,650,074 shares (26.70% of votes) in a periodic institutional filing.
SPO Partners II, L.P, SPO Advisory Partners, L.P, San Francisco Partners, L.P, SF Advisory Partners, L.P, SPO Advisory Corp, John H. Scully, William E. Oberndorf, Edward H. McDermott reported a QUICKSILVER RESOURCES INC shareholding of 25,140,554 shares (14.80% of votes) in a periodic institutional filing.
Quicksilver Energy, L.P, Pennsylvania Management, LLC, Glenn Darden, Thomas F. Darden, Anne Darden Self reported a QUICKSILVER RESOURCES INC shareholding of 45,637,513 shares (26.80% of votes) in a periodic institutional filing.
24 Feb 2011security holder rights change● NeutralMajor
Quicksilver let Quicksilver Energy (the Darden family group) and SPO Partners jointly discuss a non-binding take-private proposal, and amended its shareholder rights plan (poison pill) so those talks wouldn't trip it -- a related-party governance step clearing the way for insiders to pursue buying out the company.
SPO Partners II, L.P, SPO Advisory Partners, L.P, San Francisco Partners, L.P, SF Advisory Partners, L.P, SPO Advisory Corp, John H. Scully, William E. Oberndorf, Edward H. McDermott reported a QUICKSILVER RESOURCES INC shareholding of 25,140,554 shares (14.80% of votes) in a periodic institutional filing.
Quicksilver Energy, L.P, Pennsylvania Management, LLC, Glenn Darden, Thomas F. Darden, Anne Darden Self reported a QUICKSILVER RESOURCES INC shareholding of 45,637,513 shares (26.80% of votes) in a periodic institutional filing.
Quicksilver Energy, L.P, Pennsylvania Management, LLC, Glenn Darden, Thomas F. Darden, Anne Darden Self reported a QUICKSILVER RESOURCES INC shareholding of 45,524,777 shares (26.70% of votes) in a periodic institutional filing.
Quicksilver extended the maturity of its combined U.S./Canadian revolving credit facility to February 2013 -- a routine maturity extension with its existing lender group.