Exhibit 99.1 ![Quicksilver Resources Inc. Logo](https://capedge.com/proxy/8-K/0001060990-08-000024/kwk_logo.jpg)
![Quicksilver Resources Inc. Logo](https://capedge.com/proxy/8-K/0001060990-08-000024/kwk_logo.jpg)
N e w s R e l e a s e
QUICKSILVER RESOURCES INC.
777 West Rosedale Street
Fort Worth, TX 76104
www.qrinc.com
Quicksilver Resources Announces Second-Quarter 2008 Earnings Impact from BreitBurn Equity Investment
FORT WORTH, TEXAS (July 1, 2008) – Quicksilver Resources Inc. (NYSE: KWK) today announced that it will record in its second-quarter 2008 results a $10.2 million non-cash loss related to Quicksilver’s equity investment, representing an approximate 32% ownership interest, in BreitBurn Energy Partners L.P.’s first-quarter 2008 results.
BreitBurn Energy Partners reported a $41.1 million loss for the first quarter of 2008, which included a $71 million non-realized loss on derivatives. Quicksilver reports its share of BreitBurn’s earnings or loss on a one quarter lagged basis, due to the timing of BreitBurn’s filing its quarterly results with the Securities and Exchange Commission on Form 10-Q after Quicksilver has filed its quarterly results.
On June 17, 2008, BreitBurn announced that it had acquired all of the limited partnership interest from Provident Energy Trust and 100% of the general partners’ interests in BreitBurn GP, LLC. As a result of these transactions, Quicksilver now owns approximately 41% of BreitBurn Energy Partners L.P. which it will continue to account for using the equity method.
About Quicksilver Resources
Fort Worth, Texas-based Quicksilver Resources is a natural gas and crude oil exploration and production company engaged in the development and acquisition of long-lived, unconventional natural gas reserves, including coalbed methane, shale gas, and tight sands gas in North America. The company has U.S. offices in Fort Worth, Texas; Glen Rose, Texas and Cut Bank, Montana. 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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Investor & Media Contact:
Rick Buterbaugh
(817) 665-4835
KWK 08-15
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