ULTRA PETROLEUM CORP. (OTCMKTS:UPLMQ) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01.
| Entry Into a Material Definitive Agreement. |
As previously disclosed, on April 12, 2017, Ultra Resources, Inc.
(Ultra Resources), an indirect, wholly-owned subsidiary of
Ultra Petroleum Corp. (the Company), as borrower, entered
into a certain Credit Agreement (the Credit Agreement)
with Bank of Montreal, as administrative agent (Agent),
and the other lenders party thereto (collectively, the
Lenders), and the Company and UP Energy Corporation, a
wholly-owned subsidiary of the Company, as parent guarantors.
On June 6, 2017, Ultra Resources and the Lenders entered into a
certain First Amendment to Credit Agreement (the First
Amendment). As amended, the Credit Agreement includes, among
other things, a new defined term Decrease and Maintenance
Lenders which applies to redeterminations of the Borrowing
Base under the Credit Agreement during a period when there are
seven or more Non-Defaulting Lenders party to the Credit
Agreement. At the time of the First Amendment and as of the date
of this Current Report on Form 8-K, there are seven Lenders party
to the Credit Agreement. Capitalized terms used in this Current
Report on Form 8-K but not specifically defined herein have the
meanings specified for such terms in the Credit Agreement, a copy
of which is filed as Exhibit 10.2 to the Companys Current
Report on Form 8-K filed April 18, 2017.
This summary of the First Amendment does not purport to be
complete and is subject to, and qualified in its entirety by
reference to, the full text of the First Amendment, which is
filed as Exhibit 99.1 to this Current Report on Form 8-K
and incorporated by reference herein.
| Section 9. | Financial Statements and Exhibits |
| Item 9.01. | Financial Statements and Exhibits. |
| (d) | Exhibits |
| Exhibit No. | Description | ||
| 99.1 |
First Amendment to Credit Agreement dated June 6, 2017, by and among Ultra Resources, Inc., as Borrower, Bank of Montreal, as Administrative Agent for the Lenders, Barclays Bank PLC, as Syndication Agent, Joint Lead Arranger and Joint Bookrunner, Goldman Sachs Bank USA, as Documentation Agent, Joint Lead Arranger and Joint Bookrunner, Capital One National Association, as Documentation Agent, BMO Capital Markets Corp., as Joint Lead Arranger and Joint Bookrunner, and each of the Lenders party thereto. |
About ULTRA PETROLEUM CORP. (OTCMKTS:UPLMQ)
Ultra Petroleum Corp. is an independent oil and gas company. The Company is engaged in the development, production, operation, exploration and acquisition of oil and natural gas properties. The Company operates in natural gas and oil exploration and development industry, with geographical segment, the United States. It owns oil and natural gas leases in Wyoming, Utah and Pennsylvania. In Colorado, the Company owns oil and natural gas leases, as well as fee oil and gas rights. The Company focuses on developing its natural gas reserves in the Green River Basin of southwest Wyoming, the Pinedale and Jonah fields; its oil reserves in the Uinta Basin in Utah, and its natural gas reserves in the Appalachian Basin of Pennsylvania. The Company owns interests in approximately 104,000 gross (approximately 68,000 net) acres in Wyoming covering approximately 190 square miles.
