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Ultra Focuses on Pinedale, Uinta; Cuts Well Cost, Drill Times
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Ultra Petroleum Corp. continued to deliver strong financial and operating performance for the second quarter of 2015.
Highlights include: Produced volumes of 70.5 Bcfe of natural gas and oil, an increase of 20% above year ago levels Generated operating cash flow of $121.9 million for the quarter ended June 30, 2015 Earnings of $32.1 million in the second quarter of 2015, or $0.21 per diluted share adjusted(2) 47 percent cash flow margin for the second quarter of 2015 Operational UpdateWyoming - Pinedale
During the second quarter, Ultra Petroleum and its partners drilled 54 gross (36 net) Pinedale wells and placed on production 52 gross (34 net) wells.
The second quarter average initial production (IP) rate for new operated wells brought online was 8.6 million cubic feet equivalent…
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