Ultra Petroleum committee requests status conference on plan schedule

By Caroline Salls

Pittsburgh, Dec. 13 – Ultra Petroleum Corp.’s official committee of unsecured creditors asked the U.S. Bankruptcy Court for the Southern District of Texas to hold a status conference on Dec. 15 regarding the company’s proposed plan confirmation schedule and plan-related motions, according to a motion filed Monday.

The committee said it has attempted numerous times to meet and work with the company to formulate a consensual and viable Chapter 11 plan but that Ultra elected to shut the committee out of any plan discussions, instead partnering with informal groups to propose a plan “that will likely be hotly contested.”

In addition, the committee said the company is “proposing unrealistic timeframes and requesting objectionable relief.”

The committee said the proposed status conference should cover plan discovery-related matters, plan confirmation hearing/objection deadlines and plan-related motions.

According to the motion, the committee proposes that the plan confirmation hearing be held during the first week of April, rather than on March 6, as proposed by the company.

Ultra Petroleum is a Houston-based independent exploration and production company. The company filed bankruptcy on April 29, 2016 under Chapter 11 case number 16-32202.

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