One-Page Deal Sheet
Ultra Petroleum Acquires Marcellus Acreage and Pennsylvania Operations
Ultra Petroleum Corp. Not Disclosed
Announced Date
December 21,2009
Effective Date
October 01,2009
Close Date
December 21,2009
Transaction Type
Property
Enterprise Value (EV)($MM)
400
Asset/Basin:
{"Appalachian Basin","Marcellus Shale"}
TargetZones:
{"Marcellus Shale"}
Net Acres
Net Operated Locations:
Location
Region
Northeast
Country
United States
State
Pennsylvania
Transaction Details: Subscribe to see
Ultra Petroleum Corp. today announced that it has signed a purchase and sale agreement to acquire approximately 80,000 (net) acres in the Pennsylvania Marcellus Shale, from a private company. Following the acquisition, Ultra Petroleum will hold approximately 250,000 net acres in this region, with the potential for 1,800 net drilling locations. Ultra Petroleum expects to pay roughly $400.0 million for the assets which will be financed using debt.
"We are strategically increasing the scale of our Marcellus position with assets that rival the returns of our current acreage. With this acquisition…
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