Exploration & Production | Quarterly / Earnings Reports | First Quarter (1Q) Update
Ultra Petroleum Outlines High Return Wells in Uinta
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Ultra Petroleum Corp. has reported first quarter 2014 operating and financial results.
Highlights during the quarter include: First quarter earnings of $135.4 million or $0.87 per diluted share – adjusted(2), a 131% increase above the prior year period Generated operating cash flow(1) of $201.1 million or $1.30 per diluted share, an increase of 63% above year ago levels Produced natural gas and crude oil volumes of 57.2 Bcfe Increased crude oil production 145% year over year to 658.0 Mbbls Natural gas price realizations of $4.96 per Mcf, up 42% year over year Revenues increased to $326.3 million , 45% above first quarter 2013 Expanding margins during the first quarter (adjusted): 63% cash flow margin(4) and 43% net income margin(3), as compared to year ago levels of 55% and 26%…Finish this article — free account or subscription
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