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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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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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