FORT WORTH, Texas, May 16, 2013 (GLOBE NEWSWIRE) -- Quicksilver Resources Inc. (NYSE:KWK) today announced that Thomas F. (Toby) Darden retired as Chairman of the Board of Directors and from his officer position on May 15, 2013 following the company's annual meeting of shareholders.
Mr. Darden will remain on the Board as a director and Chairman Emeritus. He will continue as an employee of the company through the end of the year, focusing on strategic transactions including the pursuit of a joint venture in the Horn River Basin in British Columbia. He will retire from Quicksilver on December 31, 2013 but will continue to advise the company on the Horn River Basin development and other projects.
"It has been my pleasure to serve with so many outstanding and talented employees from Quicksilver and affiliated companies over the past 38 years," said Mr. Darden. "Together we have produced billions of dollars of revenues and developed trillions of cubic feet of natural gas reserves. I look forward to continuing as an active director on the Board and in my advisory role as the company moves forward in our joint venture efforts in the Horn River Basin."
W. Yandell Rogers, III was elected as Chairman on May 15, 2013 at a meeting of the board of directors. Mr. Rogers has served as an independent director on Quicksilver's Board since March 1999.
"We deeply appreciate Toby's leadership and his many valuable contributions to the growth of Quicksilver," said Mr. Rogers. "We are fortunate that we will benefit from his continued counsel as a director and a consultant. The Horn River Basin is one of our core developments, and we are pleased that we will have his perspective to advise us on this important asset as well as on other strategic initiatives. Further, I look forward to continued service on the Board in my new role as Quicksilver's Chairman."
About Quicksilver Resources
Fort Worth, Texas-based Quicksilver Resources is an independent oil and gas company engaged in the exploration, development and acquisition of oil and gas, primarily from unconventional reservoirs including gas from shales and coal beds in North America. Quicksilver's Canadian subsidiary, Quicksilver Resources Canada Inc., is headquartered in Calgary, Alberta. For more information about Quicksilver Resources, visit www.qrinc.com.
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