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Stock Market & Financial Investment News

News Breaks
August 14, 2014
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.
News For UPL From The Last 14 Days
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October 31, 2014
10:00 EDTUPLOn The Fly: Analyst Downgrade Summary
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06:45 EDTUPLUltra Petroleum downgraded to Neutral from Buy at UBS
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October 30, 2014
07:50 EDTUPLUltra Petroleum expects a zero book tax rate for FY14
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07:49 EDTUPLUltra Petroleum expects to invest $1.5B in FY14
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07:49 EDTUPLUltra Petroleum sees FY14 production to range between 247 Bcfe-250 Bcfe
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07:47 EDTUPLUltra Petroleum reports Q3 adjusted EPS 53, consensus 53c
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October 23, 2014
08:13 EDTUPLCabot among Marcellus producers hardest hit by glut, WSJ says
The rapid growth of production from the Marcellus Shale has caused gas prices to drop and forced drillers to re-evaluate operations, with Cabot Oil and Gas (COG) among the hardest hit, said The Wall Street Journal. Other companies mentioned as being impacted and having responded in the report include Ultra Petroleum (UPL), Chesapeake Energy (CHK) and Carrizo Oil & Gas (CRZO). Reference Link

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