UPL - Ultra Petroleum: An Innovative Step To Save The Firm
Right now, one of the more depressed companies in the oil and gas space is undoubtedly Ultra Petroleum (UPL). As oil prices have collapsed, the E&P firm has taken a beating, with its market cap plunging and some of its senior notes trading for just $0.37 on the dollar. Whether or not Ultra can survive this recent downturn is all speculation at this point, but a recent move by management to deleverage the firm could have a significant impact on the company's chances of success and on determining what kind of value, if