HOUSTON, April 3, 2017 /CNW/ — Ultra Petroleum Corp. (“Ultra”) (OTC: UPLMQ) announced that based on significant market demand, the proposed Senior Secured First Lien RBL Term Loan has been increased to $800.0 million, from $600.0 million. In conjunction with the upsize, Ultra’s proposed Borrowing Base has been increased from $1.0 billion to $1.2 billion. The facility is being raised in connection with Ultra’s emergence from Chapter 11 proceedings.
About Ultra Petroleum
Ultra Petroleum Corp. is an independent energy company engaged in domestic natural gas and oil exploration, development and production. The company trades over-the-counter under the ticker symbol “UPLMQ”.