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Stock Market & Financial Investment News

News Breaks
April 2, 2013
06:45 EDTUPLUltra Petroleum upgraded to Buy from Hold at Brean Capital
Brean Capital upgraded Ultra Petroleum citing valuation and said the market is putting no value on its Marceullus acreage. Price target is $36.
News For UPL From The Last 14 Days
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August 15, 2014
10:01 EDTUPLOn The Fly: Analyst Upgrade Summary
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09:10 EDTUPLOn The Fly: Pre-market Movers
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08:58 EDTUPLUltra Petroleum upgraded to Overweight from Equalweight at Capital One
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07:03 EDTUPLUltra Petroleum upgraded at UBS
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06:14 EDTUPLUltra Petroleum upgraded to Buy from Neutral at UBS
August 14, 2014
08:48 EDTUPLUltra Petroleum to host conference call
Conference call to discuss agreement to acquire Pinedale will be held on August 14 at 10 am. Webcast Link
08:31 EDTUPLUltra Petroleum announces Pinedale acquisition for $925M
Ultra Petroleum announced that the company has signed a purchase and sale agreement to acquire all Pinedale field properties from SWEPI, LP, an affiliate of Royal Dutch Shell, in exchange for a portion of Ultra's Marcellus Shale properties and cash consideration of $925M. Ultra Petroleum expects to finance the acquisition through the issuance of new debt at the subsidiary and parent level. The transaction is expected to close in the third quarter with an effective date of April 1. Ultra Petroleum is acquiring Shell's interest in the Pinedale field, which is currently producing approximately 189M cubic feet equivalent per day of natural gas and condensate. As a result of the transaction, Ultra Petroleum will operate approximately 1,577 gross wells, or about 68% of the Pinedale field. In exchange, Shell will receive $925M and approximately 155,000 net acres in the Marcellus Shale which is primarily located in Tioga and Potter counties. Shell will obtain approximately 100 MMcfe per day of natural gas production.

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