April 27, 2017 10:34 AM ET

Oil, Gas and Consumable Fuels

Company Overview of Ultra Wyoming, Inc.

Company Overview

Ultra Wyoming, Inc. provides oil and gas exploration services. The company was incorporated in 2012 and is based in Houston, Texas. Ultra Wyoming, Inc. operates as a subsidiary of Ultra Petroleum Corp.

400 North Sam Houston Parkway East

Suite 1200

Houston, TX 77060

United States

Founded in 2012

Key Executives for Ultra Wyoming, Inc.

Ultra Wyoming, Inc. does not have any Key Executives recorded.

Ultra Wyoming, Inc. Key Developments

Revised Second Amended Reorganization Plan Approved for Ultra Petroleum Corp.

The US Bankruptcy Court approved the revised second amended plan of reorganization of Ultra Petroleum Corp. on March 14, 2017. As per the approved plan, Pority Tax Claims of $0.05 million, Other Priority Claims and Secured Non-Tax Claims shall be paid in full in cash. HoldCo Note Claims of $1.34 billion shall each receive their pro rata share of 36.2% of the New Common Stock. OpCo RCF Claims of $2.53 million shall receive their Pro Rata share of $2 billion of New OpCo Notes plus Cash of $523 million. OpCo Funded Debt Claims of $2.523 billion shall be paid full in cash. OpCo Note Makewhole Claims of $200 million shall receive Additional New OpCo Notes of $200 million. General unsecured claims has been estimated in the range of $190 million to $255 million shall be paid in full in cash. Intercompany Claims and Intercompany Interests shall either be reinstated or cancelled without any distribution under the plan. Existing HoldCo Common Stock holders shall receive New Common Stock of 41% and Other Existing HoldCo Equity Interests shall be cancelled without any distribution under the plan. The plan will be funded through cash in hand, issuance of new common stock, rights offering, New OpCo Notes, additional New OpCo Notes, exit facility of $600 million term loan, $400 million revolving loan and $1.4 billion exit bridge.

Second Amended Reorganization Plan & Related Disclosure Statement Filed by Ultra Petroleum Corp.

Ultra Petroleum Corp. filed second amended joint plan of reorganization and disclosure statement in the US Bankruptcy Court on February 8, 2017. As per the amended plan, Non-Election OpCo Note Claims and Non-Election OpCo RCF Claims, OpCo Note Makewhole Claims, OpCo Subsidiary General Unsecured Claims have been removed from the plan. OpCo Funded Debt Claims of $2.523 billion shall be paid full in cash. General unsecured claims has been estimated in the range of $190 million to $255 million and shall be paid full in cash. The plan will be funded through cash in hand, issuance of new common stock, rights offering, New OpCo Notes, additional New OpCo Notes, exit facility of $600 million term loan, $400 million revolving loan and $1.4 billion exit bridge. The treatment of the other claims classes remains unchanged. Debtor filed revised second amended plan of reorganization and related disclosure statement in the US Bankruptcy Court on February 13, 2017. Treatment of all the classes of claims remain same as per the previous plan. Debtor filed revised second amended plan of reorganization in the US Bankruptcy Court on March 10, 2017. Treatment of all the classes of claims remain same as per the previous plan.

First Amended Reorganization Plan and Disclosure Statement Filed by Ultra Petroleum Corp.

Ultra Petroleum Corp. filed first amended joint plan of reorganization and disclosure statement in the US Bankruptcy Court on January 17, 2017. As per the plan, Priority Tax Claims, expected to be upto $0.05 million, will be paid in full. There are no Other Priority Claim, Secured NonTax Claims and Intercompany Claims. OpCo Subsidiary General Unsecured Claims are expected to be de-minimis. OpCo Trade General Unsecured Claims in the range of $165 million to $190 million, Other OpCo General Unsecured Claims in the range of $165 million to $190 million and Other General Unsecured Claims in the range of $0.15 million to $0.30 million will be paid in full in cash. The treatment of the other claims classes remains unchanged.

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