Ultra Petroleum Raises $225M In Gas Pipeline Sale

Law360, New York (December 10, 2012, 6:34 PM EST) -- A newly formed partnership between CorEnergy Infrastructure Trust Inc. and the energy finance arm of Prudential Insurance Co. of America will pay $195 million for Ultra Petroleum Corp.'s gas pipelines and gathering assets in Wyoming in a deal announced Monday.

CorEnergy will contribute about $130 million of its own capital through a newly formed subsidiary, Pinedale LP, and Prudential, through its Dallas-based energy finance group subsidiary, will contribute $30 million as a co-investor. The remaining portion will be covered by $65 million in new asset-based debt...
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