Ultra Petroleum Corp. is an independent exploration and production company focused on developing its long-life natural gas reserves in the Green River Basin of southwest Wyoming – the Pinedale and Jonah Fields and is in the early exploration and development stages in the Appalachian Basin of Pennsylvania. Ultra controls more than 93,000 gross (53,000 net) acres in and around the prolific 90 square mile Pinedale Field and the 36 square mile Jonah Field and believes these areas combined hold greater than 48 Tcfe of gross recoverable reserves. Ultras current Pennsylvania Marcellus Shale position is approxiately 500,000 gross (260,000 net) acres. As of year-end 2011, Ultra has an undrilled inventory of over 8,100 low risk high rates of return well locations in its asset portfolio, as identified by the companys third party reservoir engineering firm. Over the past 13 years, Ultra has grown proved reserves more than 6,500 percent to approximately 4.98 Tcfe. Production for the last 13 years has increased at a compound annual growth rate of 41 percent to approximately 245 Bcfe in 2011. The company’s head office is in Houston, Texas, with an operations office in Denver, Colorado and field offices in Pinedale, Wyoming and Wellsboro, Pennsylvania. Ultra Petroleum trades under the symbol “UPL” on the New York Stock Exchange.
Posted on: Fri, 03 Oct 2014 21:05:02 +0000