Quicksilver Resources granted exclusivity extension to formulate plan

By Caroline Salls

Pittsburgh, March 17 – Quicksilver Resources, Inc. obtained court approval to extend its exclusive Chapter 11 plan filing and vote solicitation periods, according to an order filed Thursday with the U.S. Bankruptcy Court for the District of Delaware.

The company’s exclusive filing period was extended through May 16 from Feb. 1 and its solicitation period through July 12 from April 13.

The extensions, the company said, are justified to allow more time to close the sale of company assets, as well as formulate a Chapter 11 plan.

“While the precise timing of such a plan is unclear, it is unquestionably true that no plan can be finalized prior to the end of the current exclusive filing period,” the motion said.

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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