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Uinta Basin Acquistion Summary – Ultra Petroleum Corp.

Ultra Petroleum Corp. · Oct 21, 2013 · 13 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Uinta Basin Acquistion Summary – Ultra Petroleum Corp. – slide 1
    Ultra Petroleum Corp. Uinta Basin Acquisition Summary Investor Presentation October 21, 2013 Ultra Petroleum Corp. is an independent exploration and production company focused on developing its long-life natural gas reserves in the…
  2. Uinta Basin Acquistion Summary – Ultra Petroleum Corp. – slide 2
    Ultra: A Unique Energy Company 2001 2011 2013+ Focused on Profitable Growth On the Horizon Production growth: 1,911% Allocate project capital 20% IRR 1P Reserve growth: 1,019% Invest within cash flow in existing portfolio ROE: 36%…
  3. Uinta Basin Acquistion Summary – Ultra Petroleum Corp. – slide 3
    Ultras New Ventures Strategy Objectives: Identify best geologic provinces and plays in North America Develop detailed in-house familiarity with attractive plays Identify entry points to plays of interest Focus on strategic /…
  4. Uinta Basin Acquistion Summary – Ultra Petroleum Corp. – slide 4
    Uinta Basin Acquisition Overview Acquiring Uinta Basin oil-producing asset in northeast Utah Current net production of 4,000 barrels oil (BO) per day from 38 producing wells Transaction Details Net risked reserves of 90+MMBO…
  5. Uinta Basin Acquistion Summary – Ultra Petroleum Corp. – slide 5
    Complementary, Strategic Asset Excellent well 100% IRR at strip oil price at current well costs economics Robust economics at stress price scenario Enhances current portfolio of returns Immediate increase in production and…
  6. Uinta Basin Acquistion Summary – Ultra Petroleum Corp. – slide 6
    Ultra Asset Map UPL - Pinedale UPL - Marcellus UPL - Uinta Basin Ultra operations Recently acquired asset Ultra Petroleum Corp. NYSE: UPL 6
  7. Uinta Basin Acquistion Summary – Ultra Petroleum Corp. – slide 7
    Uinta Basin Players UPL - Pinedale Duschesne Uintah Northern Edge of Uinta Basin Three Rivers Project 38 PDP Wells 257 Lower Green River wells UPL Uinta 318 Upper Green River wells (Three Rivers Project) 90+MMBO Reserves DVN…
  8. Uinta Basin Acquistion Summary – Ultra Petroleum Corp. – slide 8
    Uinta Basin Regional Comparison Three Rivers Altamont/Bluebell Monument Butte Natural Buttes Operator UPL BBG NFX QEP Target Interval Lower Green River Wasatch/L. Green River Green River Mesaverde/Wasatch Vertical Depth 7,000 13,000…
  9. Uinta Basin Acquistion Summary – Ultra Petroleum Corp. – slide 9
    Three Rivers is Unique Stratigraphic Cross Section Altamont-Bluebell Three Rivers Monument Butte Leland Bench Three Rivers A Leland Bench Upper Green River A West Mahogany Monument Butte Natural Butte Lower Green River…
  10. Uinta Basin Acquistion Summary – Ultra Petroleum Corp. – slide 10
    Compelling Resource Value Resource Evaluation (Strip Pricing) Net Future Reserves PV- 10 Economic Capital Resource Category (MBO) (MM) Wells (MM) Proved Developed 9,900 265 43 12 40-acre Bookable Offsets (LGR/UGR) 27,500 470 130…
  11. Uinta Basin Acquistion Summary – Ultra Petroleum Corp. – slide 11
    Profitable Well Economics Single Well Returns 380 MBO 345 MBO 160 MBO 100 MBO 80/bbl 380% 345% 85% 40% Oil Price Strip 600% 550% 130% 60% 100/bbl 610% 560% 140% 65% Acquisition Burdened Returns 80/bbl 60% 60% 50% 40% Strip…
  12. Uinta Basin Acquistion Summary – Ultra Petroleum Corp. – slide 12
    Self-Funding Development Operating Cash Flow vs. Capital Expenditure 250 200 150 MM 100 Operating Cash Flow Capital Expenditure 50 0 Ultra Petroleum Corp. NYSE: UPL Economics based on strip pricing 12
  13. Uinta Basin Acquistion Summary – Ultra Petroleum Corp. – slide 13
    Near-Term Production Growth 12,000 10,000 8,000 Avg. Net 6,000 BO/D 4,000 2,000 0 2013 2014 2015 2016 2017 Proved Developed Future Development Ultra Petroleum Corp. NYSE: UPL 13

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