Exploration & Production | Forecast - Production | Capital Markets | Capital Expenditure
Ultra Petroleum Details 2015 Capital Program
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Ultra Petroleum has unveiled its 2014 capital program and outlook.
2015 Capital Investment ProgramThe board of directors approved Ultra's 2015 capital investment program of $460.0 million for the year. This compares to $1.5 billion in 2014, where $600.0 million was operations and $900.0 million was for the Pinedale acquisition.
The company plans to direct its capital investments according to the table below:
Michael D. Watford, Chairman, President and Chief Executive Officer, commented: "In direct response to lower commodity prices for both natural gas and oil, we have decreased our annual budget. In 2014, we strategically repositioned our portfolio by acquiring additional, higher-returning Pinedale assets. Accordingly, the 2015 budget reflects our plan to focus on those projects with…
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