An unknown buyer entered into a purchase and sale agreement to acquire Utah Assets from Ultra Petroleum Corp. (NasdaqGS:UPL) for $75 million on July 27, 2018. The deal consideration would be in cash. The transaction is subject to customary closing adjustments. The transaction is expected to close during the third quarter of 2018. An unknown buyer completed the acquisition of Utah Assets from Ultra Petroleum Corp. (NasdaqGS:UPL) on September 25, 2018. The deal value was subject to customary closing adjustments. Ultra Petroleum Corp. used most of the proceeds from the sale to fully pay down its revolving credit facility.