On April 29, 2016, Ultra Petroleum Corp. and certain of its affiliates (collectively, “Ultra Petroleum” or the “Debtors”) filed for Chapter 11 bankruptcy protection in the United States Bankruptcy Court for the Southern District of Texas, Houston Division.
According to the declaration of Ultra Petroleum’s Chief Financial Officer, Nelson M. Shaw (the “Shaw Declaration”), Debtors own oil and gas properties in Wyoming, Utah and Pennsylvania and operate a vast majority of their Wyoming and Utah properties. See
Shaw Declaration at 18.
Debtors’ liabilities total approximately $3.759 billion in unsecured debt which includes: (i) $1.3 billion pursuant to a 2013 Ultra Petroleum Indenture and a 2014 Ultra Petroleum Indenture, both with Delaware Trust Company, as successor trustee to U.S. Bank N.A.; (ii) $990 million pursuant to a 2011 Credit Agreement with JPMorgan Chase Bank, NA as administrative agent; and (iii) $1.46 billion of unsecured private placement notes issued under a Master Note Purchase Agreement and guaranteed by certain affiliates of the Debtors. See
Shaw Declaration at 37-45.
The Debtors cases are jointly administered under the lead bankruptcy case In re Ultra Petroleum Corp., et al.
Case No. 16-32202.
A copy of the Shaw Declaration can be accessed here: Download Shaw Declaration