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Last $7.84 USD
Change Today -0.32 / -3.92%
Volume 2.8M
UPL On Other Exchanges
Symbol
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As of 8:04 PM 09/2/15 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

400 North Sam Houston Parkway East

Suite 1200

Houston, TX 77060

United States

Phone: 281-876-0120

Fax: 281-876-2831

Ultra Petroleum Corp., an independent oil and gas company, engages in the acquisition, exploration, development, production, and operation of oil and natural gas properties. The company’s principal business activities are developing its long-life natural gas reserves in the Green River Basin of southwest Wyoming — the Pinedale and Jonah fields, its oil reserves in the Uinta Basin in northeast Utah, and its natural gas reserves in the north-central Pennsylvania area of the Appalachian Basin. Oil and Gas Properties In 2014, the company completed the acquisition of producing and non-producing properties (including gathering systems) in the Pinedale field in Sublette County, Wyoming (the ‘SWEPI Properties’) from SWEPI, LP, an affiliate of Royal Dutch Shell, plc in exchange for a portion of the company’s producing and non-producing properties (including gathering systems) in Pennsylvania (the ‘Pennsylvania Properties’). The SWEPI Properties that the company acquired consist primarily of 19,600 net mineral acres in Wyoming and associated oil and gas production. Principal Operating Areas The company’s operations in southwest Wyoming focus on developing its long-life natural gas reserves in a tight gas sand trend located in the Green River Basin. The company targets sands of the upper Cretaceous Lance Pool in the Pinedale and Jonah fields. The Lance Pool, as administered by the Wyoming Oil and Gas Conservation Commission, includes sands of the Lance formation at depths between approximately 8,000 and 12,000 feet; and the Mesaverde formation at depths between approximately 12,000 and 14,000 feet. The company’s operations in the Uinta Basin in Utah focus on developing its oil-producing properties and undeveloped acreage covering approximately 9,000 net acres. The primary geologic target is the Green River formation found between subsurface depths of approximately 4,000 and 7,500 feet. The company’s operations in north-central Pennsylvania are focused on assessing, exploring, and developing its position in the Devonian aged Marcellus Shale and other horizons at depths between approximately 4,500 and 8,500 feet. As of December 31, 2014, the company owned interests in approximately 184,000 gross (91,000 net) acres in Pennsylvania. Exploration and Production Green River Basin, Wyoming As of December 31, 2014, the company owned oil and natural gas leases totaling approximately 103,000 gross (67,000 net) acres in southwest Wyoming’s Green River Basin. Majority of this acreage covers the Pinedale and Jonah fields. Of the total acreage position in Wyoming, approximately 29,000 gross (19,000 net) acres were developed; and 74,000 gross (48,000 net) acres were undeveloped. The company operates 91% of its acreage position in the Pinedale field and 82% of its production. The company owns 73 leases totaling 89,000 gross (55,000 net) acres that are held by production and activities (HBP). The HBP acreage includes all of the company’s leases within the productive area of the Pinedale and Jonah fields. Development Wells: During 2014, the company participated in the drilling of 121 gross (76.5 net) productive development wells on the Green River Basin properties. Exploratory Wells: During 2014, the company participated in the drilling of a total of 25 gross (13.4 net) productive exploratory wells on the Green River Basin properties. Uinta Basin, Utah As of December 31, 2014, the company owned oil and natural gas leases covering 9,000 gross (9,000 net) acres in the Uinta Basin. This acreage is located in Uintah County in the eastern portion of the Uinta Basin. As of December 31, 2014, approximately 4,000 gross (4,000 net) acres were developed, and 5,000 gross (5,000 net) acres were undeveloped. The company operates 100% of the properties. Exploratory Wells: During 2014, the company participated in the drilling of a total of 74 gross (74.0 net) productive exploratory wells on the Utah properties. Pennsylvania As of December 31, 2014, the company owned oil and gas leases covering 184,000 gross (91,000 net) acres in the Pennsylvania portion of the Appalachian Basin. This acreage is located in the hea

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TEV/Sales NM Not Meaningful
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