Quicksilver Resources Inc. (KWK) announced that its bank group has affirmed the borrowing base of $1 billion under its senior secured revolving credit facility. The company said that it has the option to increase the credit facility up to $1.45 billion, subject to lender consents and additional commitments.
The company can extend the maturity of the credit facility, which matures February 2012, up to two additional years with consenting lenders.
The company said it expects to achieve double-digit production growth in 2010 while evaluating opportunities for its Horn River project in northeast British Columbia.
Quicksilver Resources expects to announce its financial results for the third quarter of 2009 on November 9, 2009.
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