Long-Term Debt (Schedule Of Outstanding Debt) (Details) (USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Dec. 31, 2014 |
Debt Instrument [Line Items] | | |
Equity interests | 100.00% | |
Senior Secured Second Lien Term Loan [Member] | | |
Debt Instrument [Line Items] | | |
Secured Second Lien Repayment Term Triggering Event Related To Senior Notes Due 2019, Maximum Threshold For Measurement | 100 | |
Senior Secured Second Lien Term Loan Due 2019 [Member] | | |
Debt Instrument [Line Items] | | |
Secured Second Lien Repayment Term Triggering Event Related To Senior Notes Due 2019, Maximum Threshold For Measurement | 100 | |
Canadian Credit Facility [Member] | | |
Debt Instrument [Line Items] | | |
Equity interests | 100.00% | |
Combined Credit Agreements [Member] | | |
Debt Instrument [Line Items] | | |
Line of Credit Facility, Current Borrowing Capacity | 325 | |
Multiple Subsidiaries Set One [Member] | U.S. Credit Facility [Member] | | |
Debt Instrument [Line Items] | | |
Equity interests | 100.00% | |
Multiple Subsidiaries Set Two [Member] | U.S. Credit Facility [Member] | | |
Debt Instrument [Line Items] | | |
Equity interests | 65.00% | |
Maximum [Member] | U.S. Credit Facility [Member] | | |
Debt Instrument [Line Items] | | |
Applicable margin in addition to interest rate | 2.75% | |
Minimum [Member] | U.S. Credit Facility [Member] | | |
Debt Instrument [Line Items] | | |
Applicable margin in addition to interest rate | 1.75% | |
Senior Subordinated Notes [Member] | Senior Subordinated Notes [Member] | | |
Debt Instrument [Line Items] | | |
Principal amount | 350 | |
Scheduled maturity date | 1-Apr-16 | |
Debt Instrument, Potential Earliest Maturity Date | N/A | |
Interest rate on outstanding borrowings at June 30, 2012 | 7.13% | |
Base interest rate options | N/A | |
Financial covenants | N/A | |
Significant restrictive covenants | - Incurrence of debt - Incurrence of liens -Payment of dividends - Equity purchases - Asset sales - Affiliate transactions | [1],[2] |
Optional redemption | Any time | [1] |
Make-whole redemption | N/A | |
Equity Clawback | N/A | |
Change of control | Put at 101% of principal plus accrued interest | [1] |
Estimated fair value | 26.5 | [3] |
Percentage of principal plus accrued interest for change of control | 101.00% | |
First Mortgage [Member] | Combined Credit Agreements [Member] | | |
Debt Instrument [Line Items] | | |
Current ratio | 1 | |
Minimum EBITDA to cash interest expense ratio | 1.1 | |
Senior secured debt leverage ratio | 2 | |
Line of Credit Facility, Current Borrowing Capacity | 325 | [4],[5] |
Scheduled maturity date | 6-Sep-16 | [6] |
Debt Instrument, Potential Earliest Maturity Date | 2-Oct-15 | [6] |
Interest rate on outstanding borrowings at June 30, 2012 | 4.10% | [7] |
Base interest rate options | LIBOR, ABR, CDOR | [8],[9] |
Financial covenants | - Minimum current ratio of 1.0 - Minimum EBITDAX or EBITDA to cash interest expense - Maximum senior secured debt leverage ratio of 2.0 | [1],[10] |
Significant restrictive covenants | - Incurrence of debt - Incurrence of liens - Payment of dividends - Equity purchases - Asset sales - Affiliate transactions - Limitations on derivatives and investments | [1],[2] |
Optional redemption | Any time | [1] |
Make-whole redemption | N/A | |
Equity Clawback | N/A | |
Change of control | Event of default | [1] |
Estimated fair value | 274.5 | [3] |
Second Mortgage [Member] | Senior Secured Second Lien Term Loan [Member] | | |
Debt Instrument [Line Items] | | |
Principal amount | 625 | [4] |
Scheduled maturity date | 21-Jun-19 | [6] |
Debt Instrument, Potential Earliest Maturity Date | 1-Jan-16 | [6] |
Interest rate on outstanding borrowings at June 30, 2012 | 7.00% | |
Base interest rate options | LIBOR floor of 1.25%; ABR floor of 2.25% | |
Financial covenants | N/A | |
Significant restrictive covenants | - Incurrence of debt - Incurrence of liens and 1st lien cap -Payment of dividends - Equity purchases - Asset sales - Affiliate transactions | [1],[2] |
Optional redemption | Any time, subject to re-pricing event June 21, 2015: 101 | [1] |
Make-whole redemption | N/A | |
Equity Clawback | N/A | |
Change of control | Put at 101% of principal plus accrued interest | [1] |
Estimated fair value | 465.6 | [3] |
Percentage of principal plus accrued interest for change of control | 101.00% | |
Second Mortgage [Member] | Senior Secured Second Lien Term Loan Due 2019 [Member] | | |
Debt Instrument [Line Items] | | |
Principal amount | 200 | [4] |
Scheduled maturity date | 21-Jun-19 | [6] |
Debt Instrument, Potential Earliest Maturity Date | 1-Jan-16 | [6] |
Interest rate on outstanding borrowings at June 30, 2012 | 7.00% | |
Base interest rate options | LIBOR floor of 1.25% | |
Financial covenants | N/A | |
Significant restrictive covenants | - Incurrence of debt - Incurrence of liens and 1st lien cap -Payment of dividends - Equity purchases - Asset sales - Affiliate transactions | [1],[2] |
Optional redemption | Any time, subject to re-pricing event June 21, 2015: 101 | [1] |
Make-whole redemption | N/A | |
Equity Clawback | N/A | |
Change of control | Put at 101% of principal plus accrued interest | [1] |
Estimated fair value | 149 | [3] |
Percentage of principal plus accrued interest for change of control | 101.00% | |
Senior Notes [Member] | Senior Notes Due Two Thousand Twenty-one [Member] | | |
Debt Instrument [Line Items] | | |
Principal amount | 325 | |
Scheduled maturity date | 1-Jul-21 | |
Debt Instrument, Potential Earliest Maturity Date | N/A | |
Interest rate on outstanding borrowings at June 30, 2012 | 11.00% | |
Base interest rate options | N/A | |
Financial covenants | N/A | |
Significant restrictive covenants | - Incurrence of debt - Incurrence of liens -Payment of dividends - Equity purchases - Asset sales - Affiliate transactions | [1],[2] |
Optional redemption | July 1, 2019: 102.000 2020: par | [1] |
Make-whole redemption | Callable prior to July 1, 2019 at make-whole call price of Treasury +50 bps | [1] |
Equity Clawback | Redeemable until July 1, 2016 at 111.00%, plus accrued interest for up to 35% | [1] |
Change of control | Put at 101% of principal plus accrued interest | [1] |
Estimated fair value | 87.9 | [3] |
Make-whole redemption treasury plus percentage | 0.50% | |
Percentage of principal plus accrued interest for change of control | 101.00% | |
Equity Clawback Redemption Percentage | 111.00% | |
Senior Notes [Member] | Senior Notes Due 2015 [Member] | | |
Debt Instrument [Line Items] | | |
Percentage of principal plus accrued interest for change of control | 101.00% | |
Senior Notes [Member] | Senior Notes Due 2016 [Member] | | |
Debt Instrument [Line Items] | | |
Percentage of principal plus accrued interest for change of control | 101.00% | |
Senior Notes [Member] | Senior Notes Due 2019 [Member] | | |
Debt Instrument [Line Items] | | |
Principal amount | 298 | |
Scheduled maturity date | 15-Aug-19 | |
Debt Instrument, Potential Earliest Maturity Date | N/A | |
Interest rate on outstanding borrowings at June 30, 2012 | 9.13% | |
Base interest rate options | N/A | |
Financial covenants | N/A | |
Significant restrictive covenants | - Incurrence of debt - Incurrence of liens -Payment of dividends - Equity purchases - Asset sales - Affiliate transactions | [1],[2] |
Optional redemption | August 15, 2014: 104.563 2015: 103.042 2016: 101.521 2017: par | [1] |
Make-whole redemption | N/A | |
Equity Clawback | N/A | |
Change of control | Put at 101% of principal plus accrued interest | [1] |
Estimated fair value | 74.8 | [3] |
Make-whole redemption treasury plus percentage | 0.50% | |
Percentage of principal plus accrued interest for change of control | 101.00% | |
CDOR Rate [Member] | Maximum [Member] | Canadian Credit Facility [Member] | | |
Debt Instrument [Line Items] | | |
Applicable margin in addition to interest rate | 3.75% | |
CDOR Rate [Member] | Minimum [Member] | Canadian Credit Facility [Member] | | |
Debt Instrument [Line Items] | | |
Applicable margin in addition to interest rate | 2.75% | |
London Interbank Offered Rate (LIBOR) [Member] | U.S. Credit Facility [Member] | | |
Debt Instrument [Line Items] | | |
Applicable margin in addition to interest rate | 1.00% | |
London Interbank Offered Rate (LIBOR) [Member] | Maximum [Member] | U.S. Credit Facility [Member] | | |
Debt Instrument [Line Items] | | |
Applicable margin in addition to interest rate | 3.75% | |
London Interbank Offered Rate (LIBOR) [Member] | Maximum [Member] | Canadian Credit Facility [Member] | | |
Debt Instrument [Line Items] | | |
Applicable margin in addition to interest rate | 3.75% | |
London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member] | U.S. Credit Facility [Member] | | |
Debt Instrument [Line Items] | | |
Applicable margin in addition to interest rate | 2.75% | |
London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member] | Canadian Credit Facility [Member] | | |
Debt Instrument [Line Items] | | |
Applicable margin in addition to interest rate | 2.75% | |
London Interbank Offered Rate (LIBOR) [Member] | Second Mortgage [Member] | Senior Secured Second Lien Term Loan [Member] | | |
Debt Instrument [Line Items] | | |
Debt Instrument, Reference Rate, Floor | 1.25% | |
London Interbank Offered Rate (LIBOR) [Member] | Second Mortgage [Member] | Senior Secured Second Lien Term Loan Due 2019 [Member] | | |
Debt Instrument [Line Items] | | |
Redemption percentage of par value | 1.25% | |
Canadian Prime Rate [Member] | Maximum [Member] | Canadian Credit Facility [Member] | | |
Debt Instrument [Line Items] | | |
Applicable margin in addition to interest rate | 2.75% | |
Canadian Prime Rate [Member] | Minimum [Member] | Canadian Credit Facility [Member] | | |
Debt Instrument [Line Items] | | |
Applicable margin in addition to interest rate | 1.75% | |
U.S. Prime Rate [Member] | Maximum [Member] | Canadian Credit Facility [Member] | | |
Debt Instrument [Line Items] | | |
Applicable margin in addition to interest rate | 2.75% | |
U.S. Prime Rate [Member] | Minimum [Member] | Canadian Credit Facility [Member] | | |
Debt Instrument [Line Items] | | |
Applicable margin in addition to interest rate | 1.75% | |
ABR [Member] | Second Mortgage [Member] | Senior Secured Second Lien Term Loan [Member] | | |
Debt Instrument [Line Items] | | |
Debt Instrument, Reference Rate, Floor | 2.25% | |
2013 [Member] | Senior Subordinated Notes [Member] | Senior Subordinated Notes [Member] | | |
Debt Instrument [Line Items] | | |
Redemption percentage of par value | 101.19% | |
2013 [Member] | Senior Notes [Member] | Senior Notes Due 2015 [Member] | | |
Debt Instrument [Line Items] | | |
Redemption percentage of par value | 101.94% | |
Percentage of principal plus accrued interest for change of control | 101.94% | |
2013 [Member] | Senior Notes [Member] | Senior Notes Due 2016 [Member] | | |
Debt Instrument [Line Items] | | |
Redemption percentage of par value | 105.88% | |
2014 [Member] | Senior Subordinated Notes [Member] | Senior Subordinated Notes [Member] | | |
Debt Instrument [Line Items] | | |
Redemption percentage of par value | 100.00% | |
2014 [Member] | Second Mortgage [Member] | Senior Secured Second Lien Term Loan Due 2019 [Member] | | |
Debt Instrument [Line Items] | | |
Redemption percentage of par value | 102.00% | |
2014 [Member] | Senior Notes [Member] | Senior Notes Due 2015 [Member] | | |
Debt Instrument [Line Items] | | |
Redemption percentage of par value | 100.00% | |
2014 [Member] | Senior Notes [Member] | Senior Notes Due 2016 [Member] | | |
Debt Instrument [Line Items] | | |
Redemption percentage of par value | 102.94% | |
2014 [Member] | Senior Notes [Member] | Senior Notes Due 2019 [Member] | | |
Debt Instrument [Line Items] | | |
Redemption percentage of par value | 104.56% | |
2015 [Member] | Second Mortgage [Member] | Senior Secured Second Lien Term Loan [Member] | | |
Debt Instrument [Line Items] | | |
Redemption percentage of par value | 101.00% | |
2015 [Member] | Second Mortgage [Member] | Senior Secured Second Lien Term Loan Due 2019 [Member] | | |
Debt Instrument [Line Items] | | |
Percentage of principal plus accrued interest for change of control | 101.00% | |
2015 [Member] | Senior Notes [Member] | Senior Notes Due 2016 [Member] | | |
Debt Instrument [Line Items] | | |
Redemption percentage of par value | 100.00% | |
2015 [Member] | Senior Notes [Member] | Senior Notes Due 2019 [Member] | | |
Debt Instrument [Line Items] | | |
Redemption percentage of par value | 103.04% | |
Year Twenty Sixteen [Member] | Senior Notes [Member] | Senior Notes Due 2019 [Member] | | |
Debt Instrument [Line Items] | | |
Redemption percentage of par value | 101.52% | |
Year Twenty Seventeen [Member] | Senior Notes [Member] | Senior Notes Due 2019 [Member] | | |
Debt Instrument [Line Items] | | |
Redemption percentage of par value | 100.00% | |
Year Twenty Nineteen [Member] | Senior Notes [Member] | Senior Notes Due Two Thousand Twenty-one [Member] | | |
Debt Instrument [Line Items] | | |
Redemption percentage of par value | 102.00% | |
Year Twenty Twenty [Member] | Senior Notes [Member] | Senior Notes Due Two Thousand Twenty-one [Member] | | |
Debt Instrument [Line Items] | | |
Redemption percentage of par value | 100.00% | |
Combined Credit Agreements [Member] | | |
Debt Instrument [Line Items] | | |
Commitment fee percentage | 0.50% | |
Combined Credit Agreements [Member] | Maximum [Member] | | |
Debt Instrument [Line Items] | | |
Commitment fee percentage | 0.50% | |
First Quarter Two Thousand Sixteen [Member] | Minimum [Member] | Combined Credit Agreements [Member] | | |
Debt Instrument [Line Items] | | |
Interest coverage ratio | 1.5 | |
Three Months Ended December 31, 2014 [Member] | Minimum [Member] | Combined Credit Agreements [Member] | | |
Debt Instrument [Line Items] | | |
Minimum EBITDAX Covenant | 30 | |
Six months ending March 31, 2015 [Member] | Minimum [Member] | Combined Credit Agreements [Member] | | |
Debt Instrument [Line Items] | | |
Minimum EBITDAX Covenant | 59 | |
Nine months ending June 30, 2015 [Member] | Minimum [Member] | Combined Credit Agreements [Member] | | |
Debt Instrument [Line Items] | | |
Minimum EBITDAX Covenant | 87.25 | |
Twelve months ending September 30, 2015 [Member] | Minimum [Member] | Combined Credit Agreements [Member] | | |
Debt Instrument [Line Items] | | |
Minimum EBITDAX Covenant | 120.5 | |
Twelve months ending December 31, 2015 [Member] | Minimum [Member] | Combined Credit Agreements [Member] | | |
Debt Instrument [Line Items] | | |
Minimum EBITDAX Covenant | 122 | |
Second Quarter Two Thousand Sixteen [Member] | Minimum [Member] | Combined Credit Agreements [Member] | | |
Debt Instrument [Line Items] | | |
Interest coverage ratio | 2 | |
|
[1] | The information presented in this table is qualified in all respects by reference to the full text of the covenants, provisions and related definitions contained in the documents governing the various components of our debt. |
[2] | Our indentures require us to reinvest or repay senior debt with net cash proceeds from certain asset sales within one year. |
[3] | The estimated fair value is determined using market quotations based on recent trade activity for fixed rate obligations (bLevel 2b inputs). Our Second Lien Term Loan and Second Lien Notes due 2019 feature variable interest rates and we estimate their fair value by using market quotations based on recent trade activity (bLevel 3b input). We consider our Combined Credit Agreements which have a variable interest rate and a first priority lien to have a fair value equal to their carrying value (bLevel 1b input). |
[4] | Borrowings under the Amended and Restated U.S. Credit Facility, Second Lien Term Loan and Second Lien Notes due 2019 are guaranteed by certain of Quicksilverbs domestic subsidiaries and are secured (on a first priority basis with respect to the Amended and Restated U.S. Credit Facility and on a second priority basis with respect to the Second Lien Term Loan and the Second Lien Notes due 2019) by 100% of the equity interests of each of Cowtown Pipeline Management, Inc., Cowtown Pipeline Funding, Inc., Cowtown Gas Processing L.P., Cowtown Pipeline L.P., Barnett Shale Operating LLC, Silver Stream Pipeline Company LLC, QPP Parent LLC and QPP Holdings LLC (collectively, the bDomestic Pledged Equityb), 65% of the equity interests of Quicksilver Resources Canada Inc. (bQuicksilver Canadab) and Quicksilver Production Partners Operating Ltd. (with respect to the Amended and Restated U.S. Credit Facility, on a ratable basis with borrowings under the Amended and Restated Canadian Credit Facility) and the majority of Quicksilver's domestic proved oil and natural gas properties and related assets, (the bDomestic Pledged Propertyb).B Borrowings under the Amended and Restated Canadian Credit Facility are guaranteed by Quicksilver and certain of its domestic subsidiaries and are secured by the Domestic Pledged Equity, the Domestic Pledged Property, 100% of the equity interests of Quicksilver Canada (65% of which is on a ratable basis with the borrowings under the Amended and Restated U.S. Credit Facility) and any Canadian restricted subsidiaries, under the Amended and Restated Canadian Credit Facility, and 65% of the equity interests of Quicksilver Production Partners Operating Ltd. (which is on a ratable basis with the borrowings under the Amended and Restated U.S. Credit Facility) and the majority of Quicksilver Canada's oil and natural gas properties and related assets. The other debt presented is based upon structural seniority and priority of payment. |
[5] | The principal amount for the Combined Credit Agreements represents the global borrowing base as of DecemberB 31, 2014. |
[6] | The Combined Credit Agreements are required to be repaid 91 days prior to the maturity of the Senior Subordinated Notes, the Second Lien Term Loan or the Second Lien Notes due 2019, if on the applicable date any amount of such debt remains outstanding. The Second Lien Term Loan and Second Lien Notes due 2019 are required to be repaid (1) 91 days prior to the maturity of the 2019 Senior Notes if more than $100 million of the 2019 Senior Notes remain outstanding and (2) 91 days prior to the maturity of the Senior Subordinated Notes if on the applicable date the amount remaining outstanding is greater than $100 million. As of DecemberB 31, 2014, as then structured and assuming no changes in the amounts outstanding, amounts outstanding under the Combined Credit Agreements would have been due on October 2, 2015 and the Second Lien Term Loan and Second Lien Notes due 2019 would have been due on January 1, 2016. |
[7] | Represents the weighted average borrowing rate payable to lenders. |
[8] | Amounts outstanding under the Amended and Restated Canadian Credit Facility bear interest, at our election, at (i)B the CDOR Rate (as defined in the Amended and Restated Canadian Credit Facility) plus an applicable margin between 2.75% and 3.75%, (ii)B the Canadian Prime Rate (as defined in the Amended and Restated Canadian Credit Facility) plus an applicable margin between 1.75% and 2.75%, (iii)B the U.S. Prime Rate (as defined in the Amended and Restated Canadian Credit Facility) plus an applicable margin between 1.75% and 2.75% and (iv)B adjusted LIBOR (as defined in the Amended and Restated Canadian Credit Facility) plus an applicable margin between 2.75% and 3.75%. We pay a per annum fee on the LC Exposure (as defined in the Amended and Restated Canadian Credit Facility) of all letters of credit issued under the Amended and Restated Canadian Credit Facility equal to the applicable margin, with respect to Eurodollar loans, and a commitment fee on the unused availability under the Amended and Restated Canadian Credit Facility of 0.50%. |
[9] | Amounts outstanding under the Amended and Restated U.S. Credit Facility bear interest, at our election, at (i) adjusted LIBOR (as defined in the Amended and Restated U.S. Credit Facility) plus an applicable margin between 2.75% and 3.75%, (ii)B ABR (as defined in the Amended and Restated U.S. Credit Facility), which is the greatest of (a)B the prime rate announced by JPMorgan, (b)B the federal funds rate plus 0.50% and (c)B adjusted LIBOR for an interest period of one month plus 1.00%, plus, in each case under scenario, (ii) an applicable margin between 1.75% and 2.75%. We also pay a per annum fee on the LC Exposure (as defined in the Amended and Restated U.S. Credit Facility) of all letters of credit issued under the Amended and Restated U.S. Credit Facility equal to the applicable margin, with respect to Eurodollar loans, and a commitment fee on the unused availability under the Amended and Restated U.S. Credit Facility of 0.50%. |
[10] | As of DecemberB 31, 2014, the minimum EBITDAX covenant for the Combined Credit Agreements is as follows:B Minimum EBITDAX CovenantB (in millions)Three months ending December 31, 2014$30.0Six months ending March 31, 201559.0Nine months ending June 30, 201587.25Twelve months ending September 30, 2015120.5Twelve months ending December 31, 2015122.0The minimum required interest coverage ratio for the Combined Credit Agreements for first quarter of 2016 and second quarter of 2016 is 1.50 and 2.00, respectively. |