Ultra Petroleum Corp. announces that earlier today, the U.S. Court of Appeals for the Fifth Circuit delivered a favorable opinion in the appeal proceedings by Ultra Petroleum about the make-whole claims that had been asserted against the Company. This is a victory for Ultra Petroleum, reversing a bankruptcy court decision that had required the Company to pay approximately $400 million to various creditors following the [...]
Ultra Petroleum Corp. announces that the Company will hold its annual meeting of shareholders on May 22, 2019 at 11:00 a.m. Mountain Time. The meeting will take place at 116 East Inverness Drive, Englewood, Colorado 80112. Shareholders as of the record date, close of business on March 25, 2019, will be entitled to vote at the meeting. About Ultra Petroleum Ultra Petroleum Corp. is an independent energy company engaged in [...]
Ultra Petroleum Corp. closed on the previously announced debt exchange agreement to reduce long-term debt by approximately $235 million on December 21, 2018. Pro forma for the exchange, as of September 30, 2018, the Company’s Consolidated Net Leverage Ratio is reduced to 3.5x from 3.9x. In addition to the reduction in debt, the New Notes will extend the maturity of the exchanged 2022 Notes to July 2024. The Exchange [...]
Today Ultra Petroleum Corp. announced it expects to close on a debt exchange agreement to reduce long-term debt by at least $235 million before year-end . The terms of the Exchange Transaction are slightly modified from the terms of the exchange agreement originally announced on October 17, 2018. Under the new Exchange Transaction, the Company has agreed to exchange approximately $505 million aggregate principal amount [...]
Ultra Petroleum Corp. announces financial and operating results for the quarter ended September 30, 2018. Financial and Operating Highlights: Third quarter 2018 production averaged 734 MMcfe/d, above mid-point of guidance, Brought 19 vertical wells online with average 24-hour IP rate of 7.4 MMcfe/d, Reduced vertical well costs to $3.3 million, a 10% reduction from second quarter 2018, with continued reductions expected [...]
Exchange Agreement Reduces Long-Term Debt by ~$250 Million, Extends Maturity of ~$560 Million of Debt from 2022 to Mid-2024 and Reduces Cash Interest Expense on Notes Exchanged Third Quarter 2018 Production Averaged 734 MMcfe/d, Above Mid-Point of Guidance and Utah Asset Sale Closes with Proceeds Used to Pay Down Revolver Ultra Petroleum Corp. announces that it has entered into an agreement with holders of approximately [...]
Ultra Petroleum Corp. announces that it has held discussions with certain holders of the Company’s senior secured first lien term loan regarding a potential transaction . The Company and the Lenders were unable to reach an agreement on the terms of the Potential Transaction, and discussions with the Lenders regarding the Potential Transaction have ceased. Later today, the Company will file a Current Report on Form [...]
Ultra Petroleum Corp. announces financial and operating results for the quarter ended June 30, 2018. Financial and Operating Highlights: Second quarter production of 70.9 Bcfe increased 6% compared to second quarter 2017, Drilled and completed 11 horizontal wells targeting multiple intervals within the Lower Lance formation, Increased intervals within the Lower Lance formation from four to five, with each interval further [...]
Ultra Petroleum Corp. announces the following Webcast to discuss its second quarter 2018 financial and operating results: What: Ultra Petroleum Corp. Second Quarter 2018 Results Webcast When: August 9, 2018 at 11:00 a.m. Eastern Daylight Time Where: http://www.ultrapetroleum.com How: Live over the internet via the website address above Brad Johnson, Interim Chief Executive Officer, Jay Stratton, Chief Operating Officer [...]
HOUSTON, Texas, Aug. 01, 2018 -- Ultra Petroleum Corp. announces the following Webcast to discuss its second quarter 2018 financial and operating results: What: Ultra Petroleum Corp. Second Quarter 2018 Results Webcast When: August 9, 2018 at 11:00 a.m. Eastern Daylight Time Where: http://www.ultrapetroleum.com How: Live over the internet via the website address above Brad Johnson, Interim Chief Executive Officer, Jay [...]
HOUSTON, May 31, 2018 -- Ultra Petroleum Corp. today announced that Jay Stratton has joined the Company as Chief Operating Officer. In this role, Mr. Stratton will provide strategic oversight of the company’s day-to-day operations, with a focus on continuing Ultra’s operational excellence and contributing his leadership and expertise to help optimize the value of the Company’s assets. Mr. Stratton [...]
HOUSTON, May 10, 2018 -- Ultra Petroleum Corp. announces financial and operating results for the quarter ended March 31, 2018. Financial and Operating Highlights: First quarter production of 72.3 Bcfe increased 13% compared to first quarter 2017, beating mid-point of guidance, Reduced operated rig fleet from 7 rigs to 4; all of which are equipped for horizontal development, Accelerated horizontal well activity while [...]
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