CorEnergy says major tenants in compliance with lease requirements

• CorEnergy Infrastructure Trust (NYSE:CORR +3.9%) is higher after responding to news that two of the three major tenants for its oil and gas pipelines, Ultra Petroleum (UPL +95.7%) and Energy XXI (EXXI +26.7%), are facing financial troubles.
• CORR says its major tenants - which also includes Arc Logistics Partners (ARCX +1.2%) - are all in compliance with their lease requirements, including timely payments of March rents.
• UPL included going concern language in its recent annual report and warned of potential bankruptcy and default on its lease agreement related to the Pinedale liquids gathering system in Wyoming; CORR owns Pinedale, and says it expects to refinance the remaining balance of its Pinedale term loan prior to maturity at the end of March, leaving ~$65M of liquidity for acquisitions and other corporate purposes.
• Earlier: Ultra Petroleum shares +60%, now up 236% the last two days