Ultra Petroleum Buys Oil-Producing Land for $650M 10/21/13
HOUSTON - Ultra Petroleum Corp. has agreed to buy oil-producing land in Utah for $650 million.
The Houston-based company on Monday announced the deal that's expected to close in December. The properties are located in what is known as the Uinta (YOO'-ihn-tah) Basin.
Company officials say the properties produce about 4,000 barrels of oil per day from 38 wells.