Driven by the strategy to position itself as the top gas producer in Wyoming’s Pinedale Field, Ultra Petroleum Corp. (NASDAQ: UPL) said Oct. 17 it closed the $75 million sale of its Utah asset and relocated its headquarters to the Denver area.

Ultra also launched a debt restructuring on Oct. 17 that the company projects will lower its leverage, push out maturities and reduce cash interest expense.

Since exiting bankruptcy in 2017, Ultra worked to streamline its portfolio in order to optimize the value of its assets in the Pinedale Field in Wyoming’s Green River Basin. As a result, the company has exited several positions and, in early October, relocated its headquarters from Houston to Englewood, Colo., a suburb of Denver.

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