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Ultra Petroleum Slashing Capex, Marcellus Activity Suspended
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Ultra Petroleum Corp. reported fourth quarter and full-year 2015 operating and financial results.
Produced 290.1 Bcfe of natural gas and crude oil, a 17 percent year-over-year increase, Reduced Pinedale well costs to $2.75 million for the fourth quarter of 2015, a decrease of 28% compared to average 2014 well costs, Generated operating cash flow(1) of $437.1 million during 2015 2016 Guidance First Quarter and Full-Year 2016 Production GuidanceUltra's 2016 annual production is expected to range between 265 – 280 Bcfe. First quarter production is expected to range between 70 – 73 Bcfe.
2016 Capital Investment ProgramThe board of directors approved Ultra's 2016 capital investment program of $260.0 million for the year.
The company plans to allocate its capital investments according to…
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