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Ultra Petroleum Corp (UPL.OQ)

UPL.OQ on NASDAQ Stock Exchange Global Select Market

4.38USD
16 Feb 2018
Change (% chg)

$-0.21 (-4.58%)
Prev Close
$4.59
Open
$4.56
Day's High
$4.61
Day's Low
$4.34
Volume
1,818,623
Avg. Vol
746,470
52-wk High
$13.60
52-wk Low
$4.34

Latest Key Developments (Source: Significant Developments)

Ultra Petroleum Announces Retirement Of CEO Michael
Tuesday, 30 Jan 2018 07:00am EST 

Jan 30 (Reuters) - Ultra Petroleum Corp ::ULTRA PETROLEUM ANNOUNCES RETIREMENT OF CHAIRMAN & CEO MICHAEL WATFORD; BRAD JOHNSON NAMED INTERIM CEO.‍REAFFIRMS Q4 2017 PRODUCTION GUIDANCE​.‍WILL ADD TWO NEW DIRECTORS TO ITS BOARD UNDER A COOPERATION AGREEMENT WITH ITS LARGEST SHAREHOLDER, FIR TREE PARTNERS​.‍FIR TREE PARTNERS OWNS AN ABOUT 20% STAKE IN COMPANY​.A ‍NEW INDEPENDENT DIRECTOR SELECTED BY A PROCESS AGREED BETWEEN FIR TREE AND CO WILL ALSO BE ADDED TO BOARD​.‍COMPANY REAFFIRMS ITS PREVIOUS Q4 PRODUCTION GUIDANCE OF APPROXIMATELY 75 BCFE​.‍CURRENT DIRECTORS, CHARLES HELTON AND ROGER BROWN, HAVE NOTIFIED CO THAT THEY WILL RESIGN AS OF FEBRUARY 28, 2018​.ULTRA PETROLEUM - ‍CONTINUED TO INCREASE ITS HEDGE POSITION, WITH SIGNIFICANT PROGRESS TOWARD ITS GOAL OF HEDGING AT LEAST 50% OF PRODUCTION FOR 2018​.‍JOHNSON IS CURRENTLY SENIOR VICE PRESIDENT, OPERATIONS.  Full Article

Ultra Petroleum Announces Divestiture Of Non-Core Marcellus Asset
Thursday, 21 Dec 2017 01:38pm EST 

Dec 21 (Reuters) - Ultra Petroleum Corp ::ULTRA PETROLEUM ANNOUNCES THE DIVESTITURE OF ITS NON-CORE MARCELLUS ASSET.ULTRA PETROLEUM CORP - DEAL FOR $115 MILLION.ULTRA PETROLEUM CORP - TRANSACTION WILL HAVE NO IMPACT ON COMPANY'S CURRENT BORROWING BASE WHICH REMAINS AT $1.4 BILLION.ULTRA PETROLEUM - DIVESTED ASSETS INCLUDE CURRENT NET PRODUCTION OF 30 MILLION CUBIC FEET PER DAY.ULTRA PETROLEUM CORP - ‍REACHED DEAL, CLOSED SALE TO DIVEST CO'S NON-OPERATED ASSET IN MARCELLUS SHALE TO ALTA MARCELLUS DEVELOPMENT LLC​.  Full Article

Ultra Petroleum says conditions that raised going concern no longer exist
Thursday, 16 Nov 2017 06:28am EST 

Nov 16 (Reuters) - Ultra Petroleum Corp :Ultra Petroleum says conditions that raised substantial doubt about company's ability to continue as a going concern no longer exist - SEC filing​.  Full Article

Ultra Petroleum engages advisor to assist in exploring non-core assets divestiture
Wednesday, 15 Nov 2017 09:55am EST 

Nov 15 (Reuters) - Ultra Petroleum Corp ::Ultra Petroleum provides update on horizontal well, asset sales and hedging program.Ultra Petroleum says engaged CIBC Griffis & Small as advisor to assist in exploring divestment of non-core assets​.Ultra Petroleum says targeting to hedge at least 50% of production for 2018​.Ultra Petroleum Corp says ‍two additional horizontal wells expected to be online by end of January​.  Full Article

Ultra Petroleum announces intention to work with Fir Tree Partners
Wednesday, 27 Sep 2017 01:17pm EDT 

Sept 27 (Reuters) - Ultra Petroleum Corp ::Ultra petroleum announces intention to work with Fir Tree Partners and other significant stakeholders to continue pursuing value-maximizing strategies.Says intends to work collaboratively with Fir Tree Partner​.Says ‍company plans engage an investment bank to explore divesting certain non-core assets in Marcellus / Uinta basins​.Says plans to address capital structure, non-core assets, cash flow, capital allocation in near-term ​.Says‍ company plans to explore ways to increase share repurchase capacity​.  Full Article

Ultra Petroleum Responds to make-whole ruling
Friday, 22 Sep 2017 12:00am EDT 

Sept 22 (Reuters) - Ultra Petroleum Corp - :Ultra Petroleum - Bankruptcy court overseeing earlier restructuring proceedings denied Co's objection to make-whole, post-petition interest claims.Ultra Petroleum - Considering all options, including an immediate appeal.  Full Article

Fir Tree to pursue strategic alternatives for Ultra Petroleum Corp.
Monday, 18 Sep 2017 07:01am EDT 

Sept 18 (Reuters) - Ultra Petroleum Corp :Fir Tree Partners announces intention to pursue value-maximizing strategic alternatives for Ultra Petroleum Corp..Fir Tree Partners​ - has retained an investment bank to provide it with financial advice regarding certain strategic alternatives for UPL.‍fir Tree Partners announces intention to pursue value-maximizing strategic alternatives for Ultra Petroleum Corp.​.‍Fir Tree says it has direct control over about 18.53 pct of common shares and total economic interest in about 22.12 pct of common shares of Ultra Petroleum​.  Full Article

Ultra Petroleum Q2 adjusted earnings per share $0.28
Wednesday, 9 Aug 2017 07:45am EDT 

Aug 9 (Reuters) - Ultra Petroleum Corp :Ultra petroleum announces second quarter 2017 financial and operating results.Q2 adjusted earnings per share $0.28.‍is affirming drilling and completion capital budget for 2017 of $500.0 million, or $525.0 million including facilities and capitalized costs​‍​.Q2 earnings per share $2.76.Q2 revenue rose 45 percent to $212.7 million.revising 2017 annual production guidance to a range of 280 bcfe to 290 bcfe, a change of approximately 3 pct‍​‍​.produced natural gas and oil volumes of 67.1 bcfe in quarter, an increase of 5% above q1 2017 levels.‍plan to drill 11 percent fewer development wells through 2017 year-end.expect 20 percent growth in production from first quarter 2017 to fourth quarter 2017, followed by 20 percent annual growth in 2018‍​.  Full Article

Ultra Petroleum says resolved litigation with Cross Sound Management
Thursday, 6 Jul 2017 11:31am EDT 

July 6 (Reuters) - Ultra Petroleum Corp ::Ultra Petroleum announces dismissal of litigation.Last remaining objection to implementation of company's plan of reorganization has been resolved.Confirms that it has entered into a mutual stipulation and settlement agreement with Cross Sound Management.Confirms that it entered into a mutual stipulation and settlement agreement, fully resolving ongoing litigation between parties.  Full Article

Ultra Petroleum Q1 adjusted earnings per share $1.49
Wednesday, 3 May 2017 07:45am EDT 

May 3 (Reuters) - Ultra Petroleum Corp ::Ultra Petroleum announces first quarter 2017 financial and operating results.Q1 adjusted earnings per share $1.49.Q1 loss per share $1.12.Q1 revenue rose 39 percent to $221 million.Ultra Petroleum Corp - for q1 of 2017, production of natural gas and oil was 64.0 billion cubic feet equivalent (bcfe).Ultra Petroleum Corp - annual production for 2017 is expected to range between 290 and 300 billion cubic feet equivalent.Ultra Petroleum Corp - drilling and completion capital budget for 2017 is $500.0 million and total capital budget for 2017 is $525.0 million.Ultra Petroleum Corp - based on continuance of an eight rig operated program, company expects approximately 25% growth in production for 2018.Ultra Petroleum Corp sees projected 2018 ebitda exceeding $800 million at current strip pricing.Ultra Petroleum - currently has hedged volumes equivalent to almost 50 pct of expected remaining 2017 production at weighted average price of $3.34 per mcf.Ultra Petroleum Corp - projected ebitda for full-year 2017 ranges between $650.0 million and $700.0 million.Ultra Petroleum Corp - q4 2017 production should be 25 percent greater than q1 with funding from cash flow.Ultra Petroleum Corp - operated average of two rigs for most of 2016 and co has plan for remainder of 2017 to grow to eight operated rigs.  Full Article