Exploration & Production | Drilling / Well Results | Top Story | Quarterly / Earnings Reports | Second Quarter (2Q) Update
Ultra Ramps Up Rockies Activity; Marcellus Ops Sluggish
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Ultra Petroleum Corp. reported financial and operating performance for the second quarter of 2014.
Highlights for the quarter include: Earnings of $81.2 million , or $0.52 per diluted share – adjusted Generated operating cash flow of $145.1 million , or $0.94 per diluted share Produced 58.5 Bcfe of natural gas and oil Increased oil production 154 percent year over year Generated solid margins in second quarter 2014 (adjusted): 56 percent cash flow marginand 31 percent net income margin Operational Highlights Wyoming - Pinedale AnticlineDuring the second quarter, Ultra Petroleum and its partners drilled 45 gross (28 net) Wyoming Lance wells and placed on production 43 gross (26 net) wells. The company's net Wyoming production averaged 455 million cubic feet equivalent (MMcfe) per day…
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