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Last $8.36 USD
Change Today +0.42 / 5.29%
Volume 2.6M
UPL On Other Exchanges
Symbol
Exchange
New York
Frankfurt
As of 8:04 PM 08/28/15 All times are local (Market data is delayed by at least 15 minutes).

ultra petroleum corp (UPL) Key Developments

Ultra Petroleum Corp. Reports Unaudited Consolidated Earnings and Production Results for the Second Quarter and Six Months Ended June 30, 2015; Increases Production and Capital Expenditure Guidance for the Year of 2015

Ultra Petroleum Corp. reported unaudited consolidated earnings and production results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported total operating revenues of $207,998,000 compared to $296,063,000 a year ago. Loss before income taxes was $24,923,000 compared to income before income taxes of $105,505,000 a year ago. Net income was $24,673,000 or $0.16 per diluted share compared to $106,049,000 or $0.68 per diluted share a year ago. Adjusted net income was $32,065,000 or $0.21 per diluted share compared to $83,860,000 or $0.54 per diluted share a year ago. Operating cash flow was $121,895,000 compared to $145,086,000 a year ago. Diluted cash flow per share was $0.80 compared to $0.94 a year ago. Net cash provided by operating activities was $121,525,000 compared to $171,076,000 a year ago. For the six months, the company reported total operating revenues of $427,306,000 compared to $622,361,000 a year ago. Loss before income taxes was $1,754,000 compared to income before income taxes of $207,222,000 a year ago. Net income was $518,000 or $0.00 per diluted share compared to $207,763,000 or $1.34 per diluted share a year ago. Adjusted net income was $53,157,000 or $0.34 per diluted share compared to $221,893,000 or $1.43 per diluted share a year ago. Operating cash flow was $233,265,000 compared to $346,168,000 a year ago. Diluted cash flow per share was $1.51 compared to $2.23 a year ago. Net cash provided by operating activities was $243,324,000 compared to $346,651,000 a year ago. For the second quarter, production of natural gas and oil was 70.5 billion cubic feet equivalent (Bcfe). The company's production for the second quarter was comprised of 65.1 billion cubic feet (Bcf) of natural gas and 900,000 barrels (Mbls) of oil and condensate. For the six months, production of natural gas and oil was 141.0 Bcfe. The company's production for the six months was comprised of 129.8 Bcf of natural gas and 1.9 million barrels of oil and condensate. The company is increasing its full-year 2015 production guidance to 283 to 290 Bcfe. The mid-point of guidance represents a 15% annual production growth from 2014. It is expected that quarterly production for the remainder of the year will steadily increase building on second quarter volumes. The company is increasing its planned capital expenditures to $500.0 million. The additional capital expenditures are due to additional drilling in Wyoming. The original budget called for 111 net wells. The current estimate is an increase of 27 to 138 net wells. The company currently projects a zero book tax rate for 2015 and anticipates additional tax refunds during the year.

Ultra Petroleum Corp., Q2 2015 Earnings Call, Jul 30, 2015

Ultra Petroleum Corp., Q2 2015 Earnings Call, Jul 30, 2015

Ultra Petroleum Corp., Annual General Meeting, Jul 30, 2015

Ultra Petroleum Corp., Annual General Meeting, Jul 30, 2015.

Ultra Petroleum Corp.(NYSE:UPL) added to Russell 2000 Index

Ultra Petroleum Corp. will be added to Russell 2000 Index

Ultra Petroleum Corp.(NYSE:UPL) dropped from Russell 1000 Index

Ultra Petroleum Corp. will be removed from Russell 1000 Index.

 

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Industry Analysis

UPL

Industry Average

Valuation UPL Industry Range
Price/Earnings 3.9x
Price/Sales 1.2x
Price/Book 6.0x
Price/Cash Flow 1.9x
TEV/Sales NM Not Meaningful
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