Exploration & Production | Top Story | Quarterly / Earnings Reports | Production | Third Quarter (3Q) Update
Ultra Petroleum's Pinedale EURs Hit 4.0-6.0 Bcfe
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Ultra Petroleum has reported a third quarter 2014 update on its Wyoming operations.
During the third quarter, Ultra Petroleum and its partners drilled 45 gross (27 net) Wyoming Lance wells and placed on production 46 gross (27 net) wells. The company's net Wyoming production averaged 489.4 million cubic feet equivalent (MMcfe) per day during the quarter.
The table below outlines the company's internal rates of return (IRR's) in Pinedale achieved for wellhead gas prices in the range of $4.00 to $5.00 per Mcf and Estimated Ultimate Recovery (EURs) ranging from 4.0 to 6.0 Bcfe.
Year to date, Ultra Petroleum and its partners drilled 120 gross (73 net) Wyoming Lance wells and placed on production 127 gross (75 net) wells. The company produced 125.6 Bcfe from Wyoming during the first nine…
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