Fort Worth, Texas-based Quicksilver Resources Inc. (NYSE: KWK) confirms it has entered a confidentiality agreement with a group of investors led by Glenn Darden, president and chief executive of company.

Quicksilver Resources will make available to the investor group certain non-public information regarding the company and its operations. Under a standstill provision, the investor group has agreed to not acquire any additional shares of Quicksilver Resources' common stock or other equity interests in the company without the prior approval of the transaction committee of the Quicksilver board for the next six months.

The transaction committee does not intend to waive certain restrictions of the company's shareholder rights plan, as requested by the investor group, until it receives and evaluates a proposal from the investor group.

On Oct. 15, Quicksilver Resources' board received a letter from Quicksilver Energy LP, an entity controlled by members of the Darden family, indicating that the investor group is interested in exploring strategic alternatives for Quicksilver Resources. The investor group also requested an amendment to Quicksilver Resources' shareholder rights plan in order to facilitate discussions between the investor group and another shareholder, SPO Partners & Co., regarding a potential transaction.

Quicksilver has retained Credit Suisse Securities (USA) LLC and Tudor, Pickering, Holt & Co. Securities Inc. to consider the proposal and alternative transactions.

As of year-end 2009, Quicksilver Resources estimated total proved reserves were approximately 2.4 trillion cubic feet of gas equivalent. It operates in the Texas Barnett shale, the Green River Basin in Colorado and Wyoming, in Alberta and in the Horn River Basin of British Columbia.