The following video is from Thursday's Digging for Value, in which host Alison Southwick, Motley Fool analyst Micael Olsen and contributor Tyler Crowe dive deep into the top stories for today's energy sector investors.The twice-weekly show can be viewed on Tuesdays and Thursdays. It can also be found on Twitter, along with our extended coverage of the energy and materials sectors: @TMFEnergy.

In this segment, Michael breaks down Ultra Petroleum's (NASDAQ:UPL) $650 million acquisition of oil assets in the Uinta Basin. While the market may not like this deal because of the lack of infrastructure in the region and the questionable economics of the deal, Ultra has a long track record of making lemonade out of lemons in some of the more out-of-favor oil and gas plays in the United States. Tune into the video below where Michael breaks down why Ultra has a good shot of making it work in the Uinta. 

Alison Southwick has no position in any stocks mentioned. Michael Olsen, CFA owns shares of Ultra Petroleum. Fool contributor Tyler Crowe has no position in any stocks mentioned. The Motley Fool recommends Ultra Petroleum. The Motley Fool owns shares of Ultra Petroleum and has the following options: long January 2014 $30 calls on Ultra Petroleum, long January 2014 $40 calls on Ultra Petroleum, and long January 2014 $50 calls on Ultra Petroleum. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.