Texas’s Quicksilver Resources Inc. will go on the auction block in December, hoping to line up a sale that eluded it before it filed for bankruptcy protection, The Wall Street Journal reported yesterday. Judge Laurie Selber Silverstein signed off on rules to govern the bidding on the oil-and-gas company and Quicksilver’s Canadian assets, which aren’t caught up in the bankruptcy action, are also being offered for sale. Creditors are worried the auction might fail to produce a valuable offer, so they are pressing for continued discussions about a chapter 11 reorganization plan for Quicksilver. The company is willing to pursue a reorganization plan but believes that the renewed sale effort may succeed.
