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February 07, 2016 6:28 AM ET

Oil, Gas and Consumable Fuels

Company Overview of Ultra Petroleum Corp.

Company Overview

Ultra Petroleum Corp., an independent oil and gas company, engages in the acquisition, exploration, development, production, and operation of oil and natural gas properties in the United States. It primarily focuses on developing natural gas reserves in the Green River Basin of Wyoming; oil reserves in the Uinta Basin of Utah; and natural gas reserves in the Appalachian Basin of Pennsylvania. As of December 31, 2014, the company owned interests in 67,000 net acres covering approximately 190 square miles in southwest Wyoming; 9,000 net acres in the Uinta Basin, Uintah County; and 91,000 net acres in the Pennsylvania portion of the Appalachian Basin. Ultra Petroleum Corp. was founded in 1979 a...

400 North Sam Houston Parkway East

Suite 1200

Houston, TX 77060

United States

Founded in 1979

160 Employees

Phone:

281-876-0120

Fax:

281-876-2831

Key Executives for Ultra Petroleum Corp.

Chairman of The Board, Chief Executive Officer and President
Age: 61
Total Annual Compensation: $800.0K
Chief Financial Officer and Senior Vice President
Age: 53
Total Annual Compensation: $385.9K
Senior Vice President of Operations
Age: 43
Total Annual Compensation: $460.6K
Vice President of Drilling & Completions
Age: 58
Total Annual Compensation: $332.0K
Vice President of Exploration and Land
Age: 56
Total Annual Compensation: $290.9K
Compensation as of Fiscal Year 2014.

Ultra Petroleum Corp. Key Developments

Ultra Petroleum Corp. Announces Unaudited Consolidated Earnings and Operating Results for the Third Quarter and Nine Months Ended September 30, 2015; Revised Operating Guidance for the Full Year 2015; Provides Operating Guidance for the Fourth Quarter and Tax Rate Guidance for the Full Year 2015

Ultra Petroleum Corp. announced unaudited consolidated earnings and operating results for the third quarter and nine months ended September 30, 2015. For the quarter, the company reported natural gas volume of 70,194,364 Mcf against 56,983,716 Mcf a year ago. Oil and condensate was 863,361 Bbls against 927,320 Bbls a year ago. Total Mcfe was 75,374,530 against 62,547,636 a year ago. Natural gas (Mcf), including and excluding realized gain on commodity derivatives was USD 3.33 and USD 2.68 compared to USD 3.59 and USD 3.72, respectively a year ago. Oil liquids (Bbls), including and excluding realized gain on commodity derivatives was USD 39.43 and USD 39.43 compared to USD 81.18 and USD 82.77, respectively a year ago. For the nine months, the company reported natural gas volume of 200,039,168 Mcf against 164,268,996 Mcf a year ago. Oil and condensate was 2,714,485 Bbls against 2,344,213 Bbls a year ago. Total Mcfe was 216,326,078 against 178,334,274 a year ago. Natural gas (Mcf), including and excluding realized gain on commodity derivatives was USD 3.32 and USD 2.68 compared to USD 4.04 and USD 4.33, respectively a year ago. Oil liquids (Bbls), including and excluding realized gain on commodity derivatives was USD 41.75 and USD 41.75 compared to USD 81.96 and USD 84.89, respectively a year ago. For the quarter, the company reported total operating revenue was USD 222.503 million against USD 288.61 million a year ago. Loss before income taxes was USD 4.23 million against profit of USD 123.97 million a year ago. Net loss was USD 3.096 million against profit of USD 125.36 million a year ago. Adjusted net income was USD 32.6 million against profit of USD 84.61 million a year ago. Operating cash flow was USD 125.4 million against USD 160.73 million a year ago. Diluted loss per share was USD 0.02 against income of USD 0.81 a year ago. Adjusted income per diluted share was USD 0.21 against USD 0.55 a year ago. Cash flow per diluted share was USD 0.82 against USD 1.04 a year ago. Net cash provided by operating activities was USD 167.88 million against USD 168.511 million a year ago. For the nine months, the company reported total operating revenue was USD 649.81 million against USD 910.97 million a year ago. Loss before income taxes was USD 5.99 million against profit of USD 331.201 million a year ago. Net loss was USD 2.58 million against profit of USD 333.12 million a year ago. Adjusted net income was USD 85.75 million against profit of USD 306.505 million a year ago. Operating cash flow was USD 358.71 million against USD 506.900 million a year ago. Diluted loss per share was USD 0.02 against income of USD 2.15 a year ago. Adjusted income per diluted share was USD 0.56 against USD 1.98 a year ago. Cash flow per diluted share was USD 2.34 against USD 3.28 a year ago. Net cash provided by operating activities was USD 411.205 million against USD 515.162 million a year ago. The company is increasing full-year 2015 production guidance to 288 - 292 Bcfe from the previous range of 283 - 290 Bcfe while reaffirming its USD 500.0 million capital investment program. The mid-point of guidance represents 16% annual production growth from 2014. In the fourth quarter of 2015, the company's realized natural gas price is expected to average 0% -2% below the NYMEX price due to differentials, before consideration of any hedging activity. Realized pricing for oil and condensate is expected to be about 15% - 18% below the average NYMEX price, before consideration of any hedging activity. The company's expected expenses per Mcfe in the fourth quarter of 2015 assuming a USD 2.30 per MMbtu Henry Hub natural gas price and a USD 44.55 per Bbl NYMEX oil price. The company currently projects a zero book tax rate for 2015 and anticipates additional tax refunds during the fourth quarter. Depletion and depreciation of USD 1.25 -USD 1.30 and interest expense of USD 0.57 -USD 0.59.

Ultra Petroleum Corp., Q3 2015 Earnings Call, Oct 29, 2015

Ultra Petroleum Corp., Q3 2015 Earnings Call, Oct 29, 2015

Ultra Petroleum Corp. Presents at Johnson Rice & Company 2015 Energy Conference, Sep-29-2015 02:35 PM

Ultra Petroleum Corp. Presents at Johnson Rice & Company 2015 Energy Conference, Sep-29-2015 02:35 PM. Venue: Hotel Monteleone, 214 Royal St, New Orleans, LA 70130, United States.

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