Simpson Thacher represented Bank of Montreal, as administrative agent, for the RBL lenders in connection with Ultra Petroleum Corp.’s chapter 11 cases, which commenced on May 14, 2020 before Judge Isgur in the Bankruptcy Court for the Southern District of Texas. In connection with the filing, 100% of the RBL lenders signed a Restructuring Support Agreement and committed to provide a $60 million Exit RBL Facility upon Ultra’s emergence from chapter 11.
Ultra is an independent energy company engaged in domestic natural gas and oil exploration, development and production.
The Simpson Thacher team includes Robert Rabalais, Erland Modesto, Zachary Banks and Daniel Lewis (Credit); Elisha Graff, Nicholas Baker and Cristina Liebolt (Restructuring); and Bill Russell (Litigation).