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Ultra Petroleum Extension Approved

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The U.S. Bankruptcy Court approved Ultra Petroleum’s motion to extend the exclusive period during which the Company can file a Chapter 11 plan and solicit acceptances thereof through.

The order states, “The Debtors’ exclusive right to propose a plan is extended to March 1, 2017. The Debtors’ exclusive right to solicit acceptances of a plan is extended to May 1, 2017. The Debtors are ordered to produce and deliver a business plan (as that term was explained in colloquy with the Court on August 25, 2016) not later than December 1, 2016…On December 15, 2016 at 1:30 p.m., the Court will conduct a status conference on exclusivity….If the Debtors have failed to comply with paragraph 2 of this Order, then exclusivity to file a plan will terminate on January 16, 2017 and the exclusive right to solicit acceptances will expire March 16, 2017.”

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