Ultra Petroleum Corp. Announces Termination of Exchange Offer for 7.125% Senior Notes due 2025
11 Julho 2019 - 11:32PM
Ultra Petroleum Corp. ("Ultra Petroleum" or the “Company”) (NASDAQ:
UPL) today announced that it terminated its previously announced
private offer to exchange (the “Exchange Offer”) outstanding
7.125% Senior Notes due 2025 (the “2025 Notes”) of its wholly
owned subsidiary, Ultra Resources, Inc. (“Ultra Resources”), for
new 9.00% Cash / 2.50% PIK Senior Secured Third Lien
Notes due 2024 of Ultra Resources (the “Third Lien Notes”).
All 2025 Notes previously tendered in the Exchange Offer and not
validly withdrawn will be promptly returned to their respective
holders. No 2025 Notes will be accepted for exchange and no
Third Lien Notes will be issued.
This press release is for informational purposes
only and is not an offer to purchase or a solicitation of an offer
to purchase any securities, nor shall there be any sale of any
securities in any jurisdiction in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under
the securities laws of any such jurisdiction.
About Ultra Petroleum
Ultra Petroleum Corp. is an independent energy
company engaged in domestic natural gas and oil exploration,
development and production. The Company is listed on NASDAQ and
trades under the ticker symbol “UPL”.
This news release includes “forward-looking
statements” within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. Any statement, including any opinions,
forecasts, projections or other statements, other than statements
of historical fact, are or may be forward-looking statements.
Although the Company believes the expectations reflected in any
forward-looking statements herein are reasonable, we can give no
assurance that such expectations will prove to have been correct
and actual results may differ materially from those projected or
reflected in such statements. This news release also includes
forward-looking statements about the Company’s borrowing base,
which is based in part upon estimates of the Company’s proved
reserves. There are numerous uncertainties inherent in estimating
proved reserves, including projecting future rates of production
and timing of development. In addition, certain risks and
uncertainties inherent in our business as well as risks and
uncertainties related to our operational and financial results are
set forth in our filings with the SEC, particularly in the section
entitled “Risk Factors” included in our Annual Report on Form 10-K
for the most recent fiscal year, our most recent Quarterly Reports
on Form 10-Q, and from time to time in other filings made by the
Company with the SEC. Some of these risks and uncertainties
include, but are not limited to, the Company’s ability to decrease
its leverage or fixed costs, increased competition, the timing and
extent of changes in prices for oil and gas, particularly in the
areas where we own properties, conduct operations, and market our
production, as well as the timing and extent of our success in
discovering, developing, producing and estimating oil and gas
reserves, our ability to successfully monetize the properties we
are marketing, weather and government regulation, and the
availability of oil field services, personnel and equipment.
For further information
contact:Investor Relations303-708-9740, ext. 9898Email:
IR@ultrapetroleum.com
Ultra Petroleum (NASDAQ:UPL)
Gráfico Histórico do Ativo
De Mar 2024 até Abr 2024
Ultra Petroleum (NASDAQ:UPL)
Gráfico Histórico do Ativo
De Abr 2023 até Abr 2024