Exploration & Production | Drilling & Completions | Well Cost | Drilling / Well Results | Top Story
Ultra Trimming Drill Times, Well Cost Across Pinedale, Uinta
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In its latest presentation, Ultra Petroleum has updated unveiled the latest changes and efficiencies in the Pinedale/Jonah and Uinta Basin. The company also detailed further plans for well cost reduction.
Pinedale/JonahUltra's current position:
In the Pinedale/Jonah Ultra has seen a 71% reduction in drill times, from 79 days in 2006 to 12-14 days in 2014.
Rig release times have also seen a sizable decrease of 40% since 2009. Ultra reported a record time of 197 hours in 2014.
In addition to drilling efficiencies, Ultra has cut down well costs by 51% since 2006 ($7.0 million) to $3.71 million in 2014.
For 2015, the company hopes to further reduce well costs to $3.3 million by the fourth quarter.
Uinta BasinUltra's current position:
In the Uinta, Ultra has increased its well…
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