Ultra Petroleum Corp. Announces 2018 Year-End Reserves and Production, Reaffirms its $1.3 Billion Borrowing Base, Executes a Proactive Amendment to RBL Credit Agreement, Provides an Update...
ULTRA PETROLEUM CORP COMMON (UPL)
Last ultra petroleum corp common earnings: 5/9 06:00 am
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ultrapetroleum.com
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Source: GlobeNewswire
ENGLEWOOD, Colo., Feb. 19, 2019 (GLOBE NEWSWIRE) -- Today Ultra Petroleum Corp. ("Ultra Petroleum," “Ultra” or the “Company”) (NASDAQ: UPL) announced its 2018 year-end reserves and production, semi-annual borrowing base redetermination and favorable amendment to its leverage covenants and schedules its 2018 fourth quarter and year-end earnings call. Key Highlights: Fourth quarter and full-year 2018 production was within guidance at 64.3 billion cubic feet equivalent (“Bcfe”) and 275.1 Bcfe, respectively.Ultra Petroleum’s year-end 2018 SEC reserves were 3,062.5 Bcfe with a before tax PV-10% value of $2.4 billion. Ultra Petroleum’s borrowing base has been reaffirmed by the lenders under the Company’s reserve-based loan (“RBL”) credit facility (“RBL Credit Facility Lenders”) at $1.3 billion, providing ample liquidity for the foreseeable future.The Company’s RBL Credit Facility Lenders unanimously approved an amendment that provides for an expanded leverage covenant metric of
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