Ultra Petroleum closes Pinedale acquisition

Ultra Petroleum Corp.

Ultra Petroleum Corp. (NYSE: UPL) has closed its Pinedale field acquisition from SWEPI LP, an affiliate of Royal Dutch Shell plc.

"This transaction is a strategic repositioning of our portfolio generating improved returns, increased reserves, higher value markets, increased operatorship and increased control of capital allocation," said Michael D. Watford, chairman, president and CEO.

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