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December 20, 2012
16:52 EDTCORR, UPLCorEnergy sees Ultra Petroleum asset acquisition accretive to distribution
CorEnergy Infrastructure Trust (CORR) announced that it has closed its previously announced acquisition of a Liquids Gathering System from Ultra Petroleum (UPL). The LGS will continue to be operated by UPL under a long-term triple net lease. Located in the Pinedale field in Wyoming, the LGS is a vital component of natural gas production in one of the top five natural gas fields in the U.S. "We are pleased to have completed our largest acquisition of REIT-qualifying assets to-date," said CEO, David Schulte. "This is a mission-critical asset, with a high-quality tenant, and it represents a cornerstone for our energy infrastructure REIT strategy. The acquisition is accretive to our distribution and our Board of Directors has indicated that it intends to approve an increase in our quarterly distribution from 11c to 12.5c for the first full quarter following the acquisition. The REIT structure provides our investors direct access to U.S. energy infrastructure in an attractive vehicle with transparent cash flow."
News For CORR;UPL From The Last 14 Days
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February 24, 2015
16:34 EDTUPLUltra Petroleum files automatic mixed securities shelf
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February 20, 2015
07:46 EDTUPLUltra Petroleum downgraded to Accumulate from Buy at KLR Group
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February 19, 2015
10:44 EDTUPLOptions with decreasing implied volatility
Options with decreasing implied volatility: VDSI KING ZU AVP GRPN SKX TRIP YPF UPL CYBR
07:47 EDTUPLUltra Petroleum reports FY15 proved reserves up 49% to 5.4 Tcfe
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07:44 EDTUPLUltra Petroleum sees FY15 production up 12% to 275Bcfe–285 Bcfe
Sees FY15 CapEx $460.0M vs. $1.5B in 2014, consisting of $410M in development drilling, $15M in infrastructure and $35M in corporate expenses.
07:41 EDTUPLUltra Petroleum reports Q4 adjusted EPS 62c, consensus 51c
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