29 Apr 2016quarterly activities report▼ Bad
ULTRA PETROLEUM CORP reported a quarterly net loss of $21.8 million for the period ended 2016-03-31.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
18 Mar 2016listing compliance notice▼ BadMajor
On March 15, 2016 the NYSE told Ultra its stock failed the $1.00 minimum: the 30-trading-day average close was $0.96 as of March 11. Ultra has six months from the notice to regain compliance, expects to stay listed meanwhile, and says the notice does not affect operations or trigger a breach of its debt obligations. This adds to the debt waiver news two weeks earlier; the filing does not say whether it will be cured.
9 Mar 2016substantial holder notice● Neutral
Davis Selected Advisers, L.P, Davis New York Venture Fund reported no remaining ULTRA PETROLEUM CORP shareholding in its periodic institutional filing.
2 Mar 2016debt financing▼ BadMajor
On March 1, 2016, all lenders under Ultra Resources' revolving credit facility and all holders of its senior notes agreed to waive certain defaults and hold off on enforcement until the earliest of April 30, 2016 or a termination event. The note agreement waiver postpones the March 1, 2016 maturity and interest payments on the Ultra Resources notes, and unpaid interest (and, for the notes, unpaid principal) accrues an extra 2% per year. Ultra says this gives it time to talk to creditors about restructuring all its debt, including the parent's own notes, and reported over $266.0 million cash at Feb 29, 2016. This is a serious turn from the debt-funded acquisitions of 2013-2014; the filing does not say how talks will end.
18 Feb 2016quarterly activities report▼ Bad
ULTRA PETROLEUM CORP reported a quarterly net loss of $3204.6 million for the period ended 2015-12-31.
16 Feb 2016substantial holder notice● Neutral
Disciplined Growth Investors, Inc disclosed a new substantial ULTRA PETROLEUM CORP shareholding (9.00% of votes).
12 Feb 2016substantial holder notice● Neutral
Davis Selected Advisers, L.P, Davis New York Venture Fund reported a ULTRA PETROLEUM CORP shareholding of 16,881,017 shares (11.00% of votes) in a periodic institutional filing.
11 Feb 2016substantial holder notice● Neutral
The Vanguard Group reported a ULTRA PETROLEUM CORP shareholding of 10,309,154 shares (6.72% of votes) in a periodic institutional filing.
10 Feb 2016substantial holder notice● Neutral
Harris Associates L.P, Harris Associates Inc reported no remaining ULTRA PETROLEUM CORP shareholding in its periodic institutional filing.
8 Feb 2016substantial holder notice● Neutral
Invesco Ltd reported a ULTRA PETROLEUM CORP shareholding of 12,168,192 shares (7.90% of votes) in a periodic institutional filing.
28 Jan 2016substantial holder notice● Neutral
BlackRock, Inc disclosed a new substantial ULTRA PETROLEUM CORP shareholding (5.70% of votes).
29 Oct 2015quarterly activities report▼ Bad
ULTRA PETROLEUM CORP reported a quarterly net loss of $3.1 million for the period ended 2015-09-30.
29 Oct 2015quarterly activities report▼ Bad
ULTRA PETROLEUM CORP reported a quarterly net loss of $3.1 million for the period ended 2015-09-30.
18 Sept 2015securities registration● Neutral
ULTRA PETROLEUM CORP filed an automatic shelf registration, effective immediately as a well-known seasoned issuer.
31 Aug 2015business combination● Neutral
Ultra filed a registration statement to swap its $850 million 6.125% senior notes due 2024 (issued Sept 18, 2014 to help fund the Pinedale purchase) for identical SEC-registered notes. Terms are the same apart from removing transfer restrictions and registration rights, Ultra receives no proceeds, and the expiry date is blank. This is the exchange registration promised when the notes were issued, parallel to the 2018 notes exchange, and does not change Ultra's debt.
30 July 2015quarterly activities report▼ Bad
ULTRA PETROLEUM CORP reported a quarterly net loss of $24.7 million for the period ended 2015-06-30.
30 July 2015quarterly activities report▼ Bad
ULTRA PETROLEUM CORP reported a quarterly net loss of $24.7 million for the period ended 2015-06-30.
30 Apr 2015quarterly activities report● Neutral
ULTRA PETROLEUM CORP reported a quarterly net income of $25.2 million for the period ended 2015-03-31.
30 Apr 2015quarterly activities report● Neutral
ULTRA PETROLEUM CORP reported a quarterly net income of $25.2 million for the period ended 2015-03-31.
24 Feb 2015asset acquisition disposition● Neutral
Ultra filed an updated illustrative pro forma statement for the full year 2014 for the SWEPI (Shell affiliate) Pinedale deal, assuming it and its financing occurred on Jan 1, 2014. Pro forma net income is $531.2 million versus $542.9 million historical, with $39.8 million of added interest; the adjusted cash payment is still stated as $983.0M, subject to further post-closing adjustments. This is a routine update of the Dec 2014 filing, with no new transaction.
24 Feb 2015securities registration● Neutral
ULTRA PETROLEUM CORP filed an automatic shelf registration, effective immediately as a well-known seasoned issuer.
19 Feb 2015quarterly activities report● Neutral
ULTRA PETROLEUM CORP reported a quarterly net income of $209.7 million for the period ended 2014-12-31.
17 Feb 2015substantial holder notice● Neutral
Citadel Advisors LLC, Citadel Advisors Holdings II LP, Citadel GP LLC, Kenneth Griffin reported a ULTRA PETROLEUM CORP shareholding of 0.10% of votes in a periodic institutional filing.
13 Feb 2015substantial holder notice● Neutral
Capital Research Global Investors ** reported no remaining ULTRA PETROLEUM CORP shareholding in its periodic institutional filing.
12 Feb 2015substantial holder notice● Neutral
Harris Associates L.P, Harris Associates Inc disclosed a new substantial ULTRA PETROLEUM CORP shareholding (5.30% of votes).
11 Feb 2015substantial holder notice● Neutral
Davis Selected Advisers, L.P, Davis New York Venture Fund reported a ULTRA PETROLEUM CORP shareholding of 19,598,377 shares (12.80% of votes) in a periodic institutional filing.
10 Feb 2015substantial holder notice● Neutral
The Vanguard Group reported a ULTRA PETROLEUM CORP shareholding of 8,925,344 shares (5.82% of votes) in a periodic institutional filing.
10 Feb 2015substantial holder notice● Neutral
Invesco Ltd. IRS # reported a ULTRA PETROLEUM CORP shareholding of 11,899,621 shares (7.80% of votes) in a periodic institutional filing.
12 Dec 2014securities registration● Neutral
ULTRA PETROLEUM CORP filed an automatic shelf registration, effective immediately as a well-known seasoned issuer.
11 Dec 2014asset acquisition disposition● Neutral
Ultra filed updated illustrative pro forma figures for the nine months to Sept 30, 2014, showing what results would look like had the Shell affiliate SWEPI Pinedale deal and its financing happened on Jan 1, 2014. The pro forma net income is $319.7 million versus $333.1 million historical, with $41.6 million of added interest. It also states the rest of the cash payment beyond the $850.0M 6.125% notes was funded by revolver borrowings, which answers part of the open funding question; the adjusted payment is still $983.0M and subject to post-closing adjustments.