Ultra Petroleum (UPLC) appears headed for bankruptcy soon. I had noted before that it could theoretically file for bankruptcy at any time, although it could also survive until early 2022 if allowed to by its creditors.
It recently mentioned that talks around an out-of-court restructuring had fallen through, and that discussions are not centering around a potential in-court restructuring.
It also has a going concern qualification in its 10-K that results in a default condition for its Credit Agreement and Term Loan Agreement. It does not currently expect to obtain a waiver before