Top Story | Forecast - Production | Capital Markets | Capital Expenditure | Capex Decrease | Drilling Program-Rig Count | Capital Expenditure - 2019
Ultra Cuts Pinedale Rig Count Down to Two; Reduces 2019 Capex by $15MM
Email
Print 
Bookmark
Ultra Petroleum Corp. has released updates to its 2019 plan.
Cuts Pinedale Rigs to Two (-33%); Reduces Capex by $15MM
The company has released a rig and reduced its operated rig count in Pinedale from three to two.
Additionally, Ultra has reduced capital investment guidance for full-year 2019 by $15 million to a new range of $305 to $335 million.
Production guidance for full-year 2019 remains unchanged at 240 to 250 Bcfe.
Cites 'Improved Drill Times' as Reason for Changes
In May, the Company drilled 3 wells with spud to total depth times of less than 6 days, compared to its first quarter average of 8.05 days. Improved drilling cycle-time performance and higher working interest in wells planned for the remainder of the year provides for 2019 production guidance to remain unchanged while 2019 capital investment is reduced by approximately 5 percent.
Related Categories :
Capex Decrease
More Capex Decrease News
-
Diamondback Energy Second Quarter 2021 Results
-
Oasis Adjusts 2021 Plans After Permian Asset Sale; Capex Cut 10%
-
Advantage Oil & Gas Adjusts 2021 Outlook as Drilling Outperforms
-
WPX Energy Third Quarter 2020 Results; Merger with Devon on Track
-
Murphy Oil Second Quarter 2020 Results; Trims Another $40MM from Capex
Rockies News >>>
-
Why Surface-Only Inventory Predictions Are a Fool’s Errand
-
OPEC+ Nudges Supply Higher: Why This Weekend’s Hike Echoes 2020—But Isn’t 2020
-
SM Energy Hits Record Output; Driven by Uinta
-
Large Cap E&P To Reduce Drilling & Completion Activity in 2026 -
-
Baker Hughes Solid Y/Y Performance Amidst US Frac Market Slowdown -
