UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event Reported): June 16, 2020

ULTRA PETROLEUM CORP.

(Exact Name of Registrant as Specified in its Charter)

(303) 708-9740

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

Securities registered pursuant to Section 12(b) of the Act: None.

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company  ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐

As previously reported, Ultra Resources, Inc. (“Ultra Resources”) and UP Energy Corporation (“UP Energy”), each subsidiaries of Ultra Petroleum Corp., entered into a Senior Secured Superpriority Debtor-in-Possession Credit Agreement, dated as of May 19, 2020 (the “DIP Credit Agreement”), by and among Ultra Resources, as Borrower, UP Energy, as Parent Guarantor, the lenders party thereto (together with such other financial institutions from time to time party thereto, the “DIP Lenders”) and Wilmington Trust, National Association, as administrative and collateral agent (the “Administrative and Collateral Agent”). On June 16, 2020, Ultra Resources entered into an amendment to the DIP Credit Agreement (the “First Amendment”) to, among other things: (i) modify the definition of “Change in Control” to remove a cross-reference to other Material Debt (as such term is defined in the DIP Credit Agreement), (ii) modify the definition of “Material Adverse Effect” to exclude from its scope any material adverse effect resulting from the COVID-19 pandemic; (iii) remove the representation that no default exists under other Material Debt (as such term is defined in the DIP Credit Agreement); (iv) exclude the occurrence of a Noteholder Termination Event (as such term is defined in the DIP Credit Agreement) from the scope of an event of default under the DIP Credit Agreement arising from the termination of the Restructuring Support Agreement (as such as term is defined in the DIP Credit Agreement); and (v) modify Schedule 9.01 to the DIP Credit Agreement to remove the entry of the Disclosure Statement Order (as such term is defined in the DIP Credit Agreement).

Capitalized terms used in this Current Report on Form 8-K but not specifically defined herein have the meanings specified for such terms in the First Amendment. The foregoing description of the First Amendment does not purport to be complete and is subject to and qualified in its entirety by reference to the full text of the First Amendment, which is attached as Exhibit 10.1 hereto and incorporated by reference herein.

(d) Exhibits.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

June 19, 2020