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CorEnergy Assuming Pinedale Lease for Troubled Ultra Petroleum
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CorEnergy Infrastructure Trust announced that Ultra Petroleum’s subsidiary has agreed to assume the Lease on its Pinedale Liquids Gathering System without amendment, through a motion filed today with the Bankruptcy Court.
In exchange, CorEnergy agreed to withdraw its damages claims and its motion to dismiss its tenant from the bankruptcy proceedings. CorEnergy maintains its right to assert claims in the future to protect the value of its Pinedale LGS System. These agreements are subject to approval by the court.
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