Exploration & Production | Top Story | Quarterly / Earnings Reports
Ultra Cuts Pinedale Costs, Drill Times; Sees 'Notable' Marcellus Results
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Ultra Petroleum Corp. reported third quarter 2013 operating and financial results.
Highlights during the quarter include: Third quarter production volumes of 57.5 Bcfe Operating cash flow of $117.9 million, or $0.76 per diluted share for the quarter Reported net income of $57.9 million, or $0.37 per diluted share - adjusted Low per unit all-in costs of $2.80 per Mcfe with cash costs of $1.77 per Mcfe Fourteen percent reduction in Wyoming well costs to $3.8 million per well Positive margins in third quarter of 2013 (adjusted): 54 percent cash flow marginand 26 percent net income margin Third Quarter ResultsUltra Petroleum produced 57.5 billion feet equivalent (Bcfe) of natural gas and crude oil during the third quarter 2013. The company's production was comprised of 55.7 billion cubic…
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