logo
Share SHARE
FONT-SIZE Plus   Neg

Ultra Petroleum To Buy Oil-producing Properties In Uinta Basin For $650 Mln

Ultra Petroleum Corp. (UPL) announced Monday that it has signed a definitive purchase and sale agreement to acquire oil-producing properties located in the Uinta Basin for $650.0 million.

The firm expects to finance the acquisition through debt at the subsidiary and parent level. It anticipates the transaction will close December 2013, subject to closing adjustments and customary terms and conditions, with an effective date of October 1, 2013.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Taco Bell, a division of Yum! Brands Inc, is planning to test delivery of food items on college campuses, the Street reported. The move comes at a time the fast food chain seeks to leverage demand for its popular breakfast and dinner items. In an unusual incident, an Airbus operated by Singapore Airlines temporarily lost power on both its Rolls Royce engines during a flight and plunged almost 13,000 feet or 3.96 kilometers. However, pilots managed to save the Airbus through standard operational procedures and it continued on its routine path. Hormel Foods has agreed to buy organic meat products maker Applegate Farms LLC for about $775 million, as consumers increasingly use natural and organic foods in their diet.
comments powered by Disqus
RELATED NEWS
Trade UPL now with 
Follow RTT