Bankrupt Fort Worth Energy Firm Quicksilver Facing Asset Auction
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FORT WORTH (CBSDFW) - The bankrupt Fort Worth energy firm Quicksilver is putting its assets on the auction block today.
Quicksilver filed for Chapter 11 bankruptcy reorganization in March 2015. It has been trying to sell off assets since September 2014, according to court documents.
Quicksilver made a big play in the Barnett Shale when natural gas prices were sky-high. Now, the firm is one of more than 40 U.S. energy companies that went bankrupt last year, owing more than $17 billion.
In its bankruptcy petition, the company says it has just over $1 billion in assets and twice that much in debt.
Some of the assets include substantial parcels of land near Texas Motor Speedway and Alliance Airport.
Quicksilver is the latest casualty of plummeting oil & gas prices.
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