- Tight Gas & Oil
- Gas Hydrates
Alta, the operator of the asset, agreed to pay $115 million to buy Ultra Petroleum’s 50% stake in a position spanning 73,000 net acres.
The Denver-based company will become a pure-play D-J Basin operator following its Uinta exit and plans to use sale proceeds to fund its 2018 drilling program.
The third quarter’s transactions totaled about $8.3 billion, the lowest since the cyclical oil price bottom hit the industry in first-quarter 2016.