Exploration & Production | Quarterly / Earnings Reports
Ultra Hits Marcellus, Green River Basin Objectives in Q2
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Ultra Petroleum Corp. reported second quarter 2013 operating and financial results.
Highlights during the quarter include: Second quarter production volumes of 58.4 Bcfe Operating cash flow of $135.1 million , or $0.87 per diluted share for the quarter Reported net income of $71.9 million , or $0.47 per diluted share – adjusted Solid margins in second quarter 2013 (adjusted): 56 percent cash flow margin and 30 percent net income margin Second Quarter ResultsUltra Petroleum produced 58.4 billion cubic feet equivalent (Bcfe) of natural gas and crude oil during the second quarter 2013. The company's production was comprised of 56.6 billion cubic feet (Bcf) of natural gas and 299.1 thousand barrels (Mbbls) of condensate.
Ultra's average realized natural gas price for the quarter was $3.80…
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