May 9, 2011
Quicksilver Resources (NYSE:KWK) reported Q1 EPS of $0.02, ex-items, missing consensus estimates of $0.03 per share. Revenues for the quarter fell 4.5% year-over-year to $212.2 million, topping consensus estimates of $193.9 million.
Glenn Darden, Quicksilver president and chief executive officer said, "Our base operations continued to improve as production volumes once again set new records while we remained focused on our all-in unit cost structure, which declined 2% versus the prior year. Concurrently, we built the largest inventory of new projects in our company's history. Quicksilver has assembled meaningful acreage positions in four developing oil plays and three natural gas plays, where Quicksilver can use its expertise in unconventional resource development to cost-effectively grow our reserve base and production. We are actively pursuing these new projects, with initial results expected later this year."
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