Quicksilver Resources Inc. said Monday it will pay $1.31 billion for rights to north Texas land that may hold more than 1 trillion cubic feet of recoverable natural gas.

The acquisitions, from various private parties including Chief Resources LLC, Hillwood Oil & Gas LP and Collins and Young LLC, will give Fort Worth-based Quicksilver access to Barnett shale in northern Tarrant and southern Denton counties that is producing 45 million cubic feet per day.

The cash part of the deal draws on a $700 million, 30-month second-lien loan facility, operating cash flow and Quicksilver’s existing credit facility. The value of the stock part of the deal will be based on the volume weighted-average price for the 15 consecutive trading days immediately prior to the three trading days just before closing. The transaction is scheduled to close Aug. 8.

Quicksilver estimates the properties contain more than 1 trillion cubic feet of recoverable natural gas resources, net to the company. That volume includes about 350 billion cubic feet of proved reserves.

Quicksilver estimates its production will grow at a three-year compound annual rate of about 50 percent, after adjusting for the November 2007 divestment of operations in Michigan, Indiana and Kentucky.