March 1, 2016 / 6:28 PM / a year ago

BUZZ-Ultra Petroleum: Worst day in a week after bankruptcy warning

1 Min Read

** Natgas producer's shares down 5 pct at 34 cents in early afternoon trading

** Stock falls as much as 29.4 pct, biggest intraday percentage loss in more than a week

** Company flags going concern risk, warns of bankruptcy

** Expects to default on a credit agreement on March 15; would file for bankruptcy protection if it failed to make debt payments, restructure debt or secure additional capital

** Company also had $62 mln payment due March 1 and $40 mln interest payment due the same day

** Ultra Petroleum had $3.76 bln in total outstanding debt as of Feb. 29

** Up to Monday's close, stock had fallen 97.8 pct in past 12 months

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