Quicksilver Resources Inc. announced the commencement of a marketing and sale process to sell substantially all or a portion of its U.S. and Canadian assets. The U.S. process was initiated with the filing of a motion with the United States Bankruptcy Court for the District of Delaware seeking approval of bidding procedures to commence a sales process for Quicksilver and its U.S. subsidiaries under section 363 of the Bankruptcy Code. The motion to approve bidding procedures is expected to be heard by the Court on October 6, 2015. The Canadian process will run parallel to, but separate from, the U.S. process.

Quicksilver and its subsidiaries intend to continue normal operations throughout the marketing and sale process.

A copy of the introductory presentation in connection with the marketing and sale process, which includes disclosures of updated proved reserves, is posted to the company's website located at http://investors.qrinc.com/events.cfm.

Additionally, Quicksilver Resources Canada Inc. ("QRCI") executed a Third Forbearance Agreement in which its first lien secured lenders will continue to forbear from exercising their rights and remedies in connection with specified defaults under the Canadian Credit Agreement related to the chapter 11 filings of Quicksilver Resources and certain of its subsidiaries for a period up to and including December 15, 2015.

Quicksilver and its U.S. subsidiaries filed voluntary petitions under chapter 11 of title 11 of the United States Code on March 17, 2015. The chapter 11 cases are being jointly administered under the case number 15-10585. Quicksilver's Canadian subsidiaries were not included in the chapter 11 filing and are not subject to the requirements of the Bankruptcy Code.