Ultra Petroleum emerges from bankruptcy after nearly a year

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Ultra Petroleum Corp. announced April 12 it has emerged from Chapter 11, nearly a year after the Houston-based company quietly filed for bankruptcy protection. The upstream energy company listed nearly $3.92 billion in debt and assets of $1.28 billion when it filed last April. As part of its reorganization plan, Ultra raised $2.98 billion in exit financing to pay creditors and “preserve significant value for existing equity holders,” according to the company’s press release. Financing was…


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Houston News & Search

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