Operational Updates
Ultra Petroleum Reports First Quarter 2012 Operating Results,
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Wyoming - Operational Highlights
Ultra Petroleum and its partners drilled 40 gross (17 net) Wyoming Lance wells and placed on production 30 gross (16 net) wells during the first quarter of 2012. Production averaged 559 million cubic feet equivalent (MMcfe) per day, an increase above first quarter 2011 production of 528 MMcfe per day.
The average initial production (IP) rate was 8.4 MMcfe per day for the Ultra-operated wells completed in the first quarter, in comparison to 7.4 MMcfe per day in the fourth quarter of 2011. The increase in IP rates was due to a number of notable completions located in the Boulder and Warbonnet areas. Ultra placed a Warbonnet well online with an initial production rate of 15.3 MMcfe per day and a Boulder well was brought online with an initial production rate…
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