Ultra Resources amends revolver, increasing borrowing base

By Sara Rosenberg

New York, Nov. 23 - Ultra Resources Inc., a subsidiary of Ultra Petroleum Corp., amended its revolving credit facility, increasing the borrowing base to $800 million from $500 million, according to an 8-K filed with the Securities and Exchange Commission Wednesday.

Furthermore, the amendment allows for the payment of dividends and capital stock repurchases.

JPMorgan is the lead bank on the deal.

The amendment was completed on Nov. 18.

Ultra is a Houston-based company involved in the acquisition, exploration, development and production of oil and gas properties.

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