Operational Updates
Ultra Petroleum Reports 2011 Operating Results; 2012 Capital Budget Reduction
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strong>2012 Capital Investment Program
Ultra’s planned capital investment program for 2012 is $925.0 million, compared to $1.5 billion in 2011, a decrease of 38 percent. More significantly, the company is reducing its development drilling capital by 50 percent from $1.3 billion in 2011 to $650 million in 2012. Capital investments net of anticipated gathering and facilities asset monetization are expected to be $725.0 million. The company plans to allocate its capital investments according to the table below:
Wyoming - Operational Highlights
Ultra Petroleum participated in drilling 52 gross (29 net) Wyoming Lance wells during the fourth quarter. Ultra and its partners also placed on production 69 gross (39 net) wells during the fourth quarter, compared to 51 gross (30 net) wells in the…
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