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Ultra Ramps Up Rig Count to Eight in Q2; Revenues Up 45% YOY
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Ultra reported its Q2 2017 results. Highlights include:
- Revenues increased to $212.7 million, a 45% increase YOY
- Produced natural gas and oil volumes of 67.1 Bcfe, an increase of 5% from Q1 2017
- Affirming its drilling and completion capital budget for 2017 of $500.0 million, or $525.0 million including facilities and capitalized costs.
Rig Increase
During the second quarter, we added three additional operated rigs. We are currently running seven operated and one non-operated rig in Pinedale. We expect another rig to be added by the end of August to complete our 2017 ramp up plan.
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