Operator · Marcellus Shale
Ultra Petroleum Corp.
53 articles mentioning Ultra Petroleum Corp. · Page 1 of 3
Ultra Petroleum Files for Bankruptcy Again After Giving Execs Cash Bonuses
Ultra Petroleum Corp. has filed for bankruptcy again. This is four years to the month since it last filed Chapter 11 in May 2016. Last month, Ultra Petroleum awarded its top executives over $1.5 million in...
Ultra Petroleum Reports Fourth Quarter 2019 Results
Ultra Petroleum Corp. reported its fourth quarter and full year 2019 results. 2020 Capex Details As previously announced, the Company's capital investment program is expected to be approximately $10 - $20 million for 2020, reflecting Ultra's...
Corporate Greed: Another E&P Awards Execs Cash Bonuses Despite Financial Troubles
Ultra Petroleum is awarding its top executives cash bonuses amounting to over $1.5 million despite its poor financial performance, according to its recent 8-K filing. This is the second company to award bonuses to its top...
Rockies Operator Suspends 2020 Drilling, Completion Activity
In a surprising move, Ultra Petroleum is suspending drilling activity in 2020 as it seeks to preserve capital. The company plans to spend only $5 million per quarter ($20 million total - down 91% from its...
Ultra Petroleum Talks Q2 2019 Results
Ultra Petroleum Corp. announces financial and operating results for the quarter ended June 30, 2019. Financial and Operating Highlights: Second quarter production was 62.5 billion cubic feet equivalent (“Bcfe”), above guidance, The Company brought 26 gross...
Ultra's Stock Delisted from Nasdaq; Nixes Plan for Reverse Stock Split
Ultra Petroleum Corp. reported that the Nasdaq market has initiated proceedings to delist the Company's common stock, effective August 8, 2019, as a result of the Company not regaining compliance with the $1.00 per share minimum...
Ultra Cuts Pinedale Rig Count Down to Two; Reduces 2019 Capex by $15MM
Ultra Petroleum Corp. has released updates to its 2019 plan. Cuts Pinedale Rigs to Two (-33%); Reduces Capex by $15MM The company has released a rig and reduced its operated rig count in Pinedale from three...
Ultra Switching to Vertical Development for 2019; Lowest Rig Count Since 2016
Ultra Petroleum has detailed its 2019 capital plan. Back to Vertical Development; Lowest Rig Count Since 2016 In 2018, Ultra was focused on horizontal development. However, this year they seem to be transitioning back to primarily...
Ultra's Q3 Production Exceeds Guidance at 734 MMcfe/d; Relocates HQ to Denver
Ultra Petroleum reported its preliminary Q3 2018 production expectations as well as announced the relocation of the company's HQ. Third Quarter 2018 Production Above Mid-Point of Guidance During the third quarter of 2018, the Company's production...
Ultra Petroleum, Lenders Fail to Reach Agreement; Credit Facility Cut by $100MM
Ultra Petroleum's borrowing base has been slashed by $100 million (down to $1.3 billion). This development comes after the company was unable to reach an agreement with its lenders. The company plans to file an 8-K...
Ultra Cuts Rig Count -43% in Q1 to Four; Talks Pinedale Vertical Program
Ultra Petroleum reported its Q1 2018 results. Highlights: - First quarter production of 72.3 Bcfe increased 13% compared to first quarter 2017, beating mid-point of guidance. This is a slight reduction in output from 4Q17. -...
Ultra Brings On Jagged Peak Alum as New COO
Ultra Petroleum has hired Jagged Peak alum Jay Stratton has its new COO. About Stratton: Mr. Stratton has over 30 years' experience in operations for both domestic and international oil and gas companies. He most recently...
Ultra Tags Q1 Production of 803 MMcfe/d; Borrowing Base Reaffirmed at $1.4B
Ultra Petroleum has reported an update ahead of its Q1 2018 results. Details: First quarter average production of 803 MMcfe/d exceeded the mid-point of guidance for the quarter - Production volumes include 68.2 billion cubic feet...
Ultra Touts Latest Pinedale IP at 54.5 MMcfe/d
Ultra Petroleum has reported a new well IP in the Pinedale play targeting the Lower Lance A interval.
Ultra Petroleum Touts Success in the Pinedale; Adds Rig
Ultra Petroleum reported results from its Pinedale HZ program. Warbonnet (WB) 9-23 M-1H Well Ultra's first horizontal well to target the Mesaverde formation Produced at 17 MMcfed (10% condensate) One-mile lateral was drilled to a TMD...
Ultra Petroleum's CEO to Retire; Johnson Named Interim CEO
Ultra Petroleum reported that its Chairman & CEO Michael D. Watford will be retiring effective February 28, 2018. Brad Johnson, Senior Vice President, Operations, will become interim CEO on that date. About Johnson: Mr. Johnson joined...
Ultra Drills Two-Mile Pinedale Lateral; Selling Marcellus, Uinta
Ultra reported its Q3 2017 results. Highlights include: Production grew 6% compared to second quarter 2017, with oil and natural gas volumes of 71.1 Bcfe Trimming Portfolio: In the final stages of selecting investment banks to...
Ultra Spuds Pinedale Well with Two-Mile Lateral; Touts Production Increase
Ultra Petroleum reported that it recently spud a Lower Lance "A", two mile horizontal well in the Pinedale play. The well reached TD of 22,483' on September 17, 2017 with a 10,228' lateral that was drilled...
Ultra Ramps Up Rig Count to Eight in Q2; Revenues Up 45% YOY
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...
Ultra Petroleum Adds to Gas Hedges
The hedges are at an average price of...