January 30, 2018 / 12:10 PM / 20 days ago

BRIEF-Ultra Petroleum Announces Retirement Of CEO Michael

Jan 30 (Reuters) - Ultra Petroleum Corp:

* ULTRA PETROLEUM ANNOUNCES RETIREMENT OF CHAIRMAN & CEO MICHAEL WATFORD; BRAD JOHNSON NAMED INTERIM CEO

* ‍REAFFIRMS Q4 2017 PRODUCTION GUIDANCE​

* ‍WILL ADD TWO NEW DIRECTORS TO ITS BOARD UNDER A COOPERATION AGREEMENT WITH ITS LARGEST SHAREHOLDER, FIR TREE PARTNERS​

* ‍FIR TREE PARTNERS OWNS AN ABOUT 20% STAKE IN COMPANY​

* A ‍NEW INDEPENDENT DIRECTOR SELECTED BY A PROCESS AGREED BETWEEN FIR TREE AND CO WILL ALSO BE ADDED TO BOARD​

* ‍COMPANY REAFFIRMS ITS PREVIOUS Q4 PRODUCTION GUIDANCE OF APPROXIMATELY 75 BCFE​

* ‍CURRENT DIRECTORS, CHARLES HELTON AND ROGER BROWN, HAVE NOTIFIED CO THAT THEY WILL RESIGN AS OF FEBRUARY 28, 2018​

* ULTRA PETROLEUM - ‍CONTINUED TO INCREASE ITS HEDGE POSITION, WITH SIGNIFICANT PROGRESS TOWARD ITS GOAL OF HEDGING AT LEAST 50% OF PRODUCTION FOR 2018​

* ‍JOHNSON IS CURRENTLY SENIOR VICE PRESIDENT, OPERATIONS Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below