Ultra Petroleum Announces First Quarter Production Above Mid-Point of Guidance, Borrowing Base Reaffirmed at $1.4 Billion and Credit Agreement Amendment Stepping Up Leverage Ratio Covenant...
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
HOUSTON, April 19, 2018 (GLOBE NEWSWIRE) -- Ultra Petroleum Corp. (NASDAQ:UPL) announces: First quarter average production of 803 MMcfe/d exceeded the mid-point of guidance for the quarter,Borrowing base unanimously reaffirmed at $1.4 billion by the Company’s bank group,Revolving credit agreement amendment unanimously approved to provide leverage covenant relief to 4.50 times, andFirst quarter 2018 earnings conference call will be held May 10, 2018. First Quarter 2018 Production Above Mid-Point of Guidance During the first quarter of 2018, the Company’s production averaged 803 million cubic feet equivalent (MMcfe) per day, exceeding the mid-point of guidance of 790 to 810 MMcfe/d. Production volumes include 68.2 billion cubic feet of natural gas and 677.8 thousand barrels of oil and condensate and represents a 13% increase over the production volumes of first quarter 2017. “We are very pleased to announce that we have exceeded the mid-point of our production guidance for the fir
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