Ultra Petroleum Corp.
| Ultra Petroleum Corp. 363 North Sam Houston Pkwy E, Suite 1200 Houston, TX 77060 |
Ultra Petroleum Corp. is an independent exploration and production company focused on its core properties in the Green River Basin of southwestern Wyoming; the Pinedale and Jonah Fields.
Ultra controls more than 121,600 gross (62,756 net) acres in and around the prolific 90 square mile Pinedale Field and the 36 square mile Jonah Field. Ultra believes that these areas hold greater than 39 Tcfe of gross recoverable reserves. At year-end 2007, Ultra has an undrilled inventory of over 5,300 low risk high rates of return well locations that average 4.5 Bcfe of natural gas reserves as identified by its third party reservoir engineering firm. Currently, the company is awaiting a Record of Decision that will enable it to gain more access year round to its core Wyoming acreage that could allow the company to accelerate its development of the Pinedale Field. Ultra Petroleum is also in the process of assessing deeper zones in the Pinedale Anticline.
Over the past eight years, Ultra has grown proved reserves more than 1,600 percent to nearly 3.0 Tcfe. Production for the last five years has increased at a compound annual growth rate of 43 percent to 121.3 Bcfe in 2007.
The company’s head office is in Houston, Texas, with an operations office in Denver, Colorado and a field office in Pinedale, Wyoming. Ultra Petroleum trades under the symbol “UPL” on the New York Stock Exchange.
Latest Ultra Petroleum News
Ultra Petroleum reaches $225M Pinedale midstream agreementHouston-based Ultra Petroleum Corp. has agreed to sell certain midstream assets in Wyoming to Pinedale Corridor LP for $225 million in cash. |
Temporary ban impacts Niobrara plans for Ultra PetroleumA temporary drilling moratorium spanning Banning Lewis Ranch in eastern Colorado Springs and enacted by the city has halted certain activity by Ultra Petroleum in the Niobrara Shale area, said Global Hunter Securities in a note to investors December 1. |
Net income dips by $2.7B, but still up 42% over 3Q09
While revenues have made a rebound from the economic doldrums of 2009, net income for the OGJ150 group of companies slipped a little in the third quarter of 2010, with a few notable exceptions.
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US producers show steady gain in revenues, net income for 2Q10
It's become clear that the domestic oil and gas industry in the United States has made a dramatic comeback since financials fell into a deep pit in late 2008 and early 2009.
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Madison Williams initiates coverage of US exploration, production industryMadison Williams and Co., a New York-based integrated capital markets and investment banking firm, has initiated coverage of the US Exploration & Production Industry under senior equity research analyst Andrew Coleman. |
Revenues, net income continue to rise for US producers in 1Q10
Total revenues and net income continued to rise in the first quarter of 2010 for the OGJ150 group of companies tracked by Oil & Gas Journal and Oil & Gas Financial Journal.
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Ultra Petroleum acquires Marcellus acreage for $400MUltra Petroleum Corp. has signed a purchase and sale agreement to acquire approximately 80,000 (net) acres in the Pennsylvania Marcellus Shale, from a private company for $400 million, less the assets which will be financed using debt. |
Marcellus projects rival Haynesville core |
