Ultra Petroleum Appoints David Honeyfield as CFO
Ultra Petroleum informed that David Honeyfield has been appointed to serve as CFO of the gas producer with assets in Wyoming’s Green River Basin.A press release from the energy company engaged in domestic natural gas and oil exploration, development and production said that Honeyfield…
The Energy Patch: where rights offerings are "sexy" again
Energy businesses that are trying to exit bankruptcy are finding a saviour in some of their own creditors, which have been scooping up newly issued stock from the companies at hefty discounts. More than a dozen so-called rights offerings have raised billions of dollars over the past 18 months…
Midstates Petroleum, Ultra file for Bankruptcy Amid Weak Oil Price
Oil-and-gas producers Midstates Petroleum Co Inc and Ultra Petroleum Corp have filed for Chapter 11 bankruptcy protection, joining several companies that have been unable to meet debt obligations after a steep decline in energy prices. Oklahoma-based Midstates and Houston-based Ultra have a combined $5.8 billion in debt…
Oil Prices Retreat on OPEC Output Boost
Climbing OPEC output, Russian exports outweigh weak dollar; falling U.S. production seen as price supportive. Oil prices edged back from 2016 highs on Monday as rising production in the Middle East outweighed a decline in U.S. output and a sliding dollar. Crude production by the Organization…
Ultra Petroleum Announces Pinedale Acquisition
Ultra Petroleum Corp. (UPL) 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, plc in exchange for a portion of Ultra's Marcellus Shale properties and cash consideration of $925 million.
Shell Sells More US Gas Assets, Adds Acreage
Royal Dutch Shell on Thursday announced the sale of two onshore U.S. shale gas assets in exchange for $2.1 billion and acreage in different gas-rich areas as the energy company restructures its North America business and reins in costs. Shell agreed to sell to Ultra Petroleum its…