Last $26.22 USD
Change Today -0.14 / -0.53%
Volume 2.0M
UPL On Other Exchanges
Symbol
Exchange
New York
Frankfurt
As of 8:04 PM 08/28/14 All times are local (Market data is delayed by at least 15 minutes).

ultra petroleum corp (UPL) Snapshot

Open
$26.27
Previous Close
$26.36
Day High
$26.33
Day Low
$25.82
52 Week High
05/1/14 - $31.43
52 Week Low
10/31/13 - $18.22
Market Cap
4.0B
Average Volume 10 Days
3.2M
EPS TTM
$2.13
Shares Outstanding
153.2M
EX-Date
--
P/E TM
12.3x
Dividend
--
Dividend Yield
--
Current Stock Chart for ULTRA PETROLEUM CORP (UPL)

ultra petroleum corp (UPL) Related Businessweek News

No Related Businessweek News Found

ultra petroleum corp (UPL) Details

Ultra Petroleum Corp., an independent oil and gas company, is engaged in the acquisition, exploration, development, production, and operation of oil and natural gas properties in the United States. It primarily focuses on developing a tight gas sand trend located in the Green River Basin of southwest Wyoming; and assessing, exploring, and developing its position in the Marcellus Shale and other horizons located in the north-central Pennsylvania area of the Appalachian Basin. As of December 31, 2013, the company owned interests in approximately 49,000 net acres in Wyoming covering approximately 190 square miles; and 250,000 net acres in Pennsylvania. Ultra Petroleum Corp. was founded in 1979 and is headquartered in Houston, Texas.

124 Employees
Last Reported Date: 02/25/14
Founded in 1979

ultra petroleum corp (UPL) Top Compensated Officers

Chairman, Chief Executive Officer and Preside...
Total Annual Compensation: $800.0K
Senior Vice President of Operations
Total Annual Compensation: $351.5K
Vice President of Exploration and Land
Total Annual Compensation: $280.0K
Compensation as of Fiscal Year 2013.

ultra petroleum corp (UPL) Key Developments

SWEPI LP, Ultra Petroleum Corp. - M&A Call

To discuss the company's strategic acquisition of all Pinedale field properties from SWEPI, LP

Ultra Petroleum Corp. Reports Financial and Operating Results for the Second Quarter and Six Months Ended June 30, 2014; Provides Operating Guidance for the Third Quarter of 2014; Provides Tax and Annual Production Guidance for 2014

Ultra Petroleum Corp. reported financial and operating results for the second quarter and six months ended June 30, 2014. Ultra Petroleum reported adjusted net income of $81.2 million, or $0.52 per diluted share for the second quarter of 2014 against $71.9 million or $0.47 per diluted share for the same period of last year. Operating cash flow was $145.1 million, or $0.94 per diluted share for the quarter ended June 30, 2014. The company's reported net income was $106.0 million or $0.68 per diluted share for the three month period against $116.4 million or $0.75 per diluted share for the same period of last year. Second quarter 2014 results included an unrealized, mark-to-market gain of $22.2 million on the company's commodity hedges. The unrealized gain is typically excluded by the investment community in published estimates. Total operating revenues were $622,361,000 against $487,003,000 for the same period of last year. Income before income taxes was $207,222,000 against $135,670,000 for the same period of last year. Net cash provided by operating activities was $346,651,000 against $209,134,000 for the same period of last year. Ultra Petroleum reported adjusted net income of $216.6 million, or $1.40 per diluted share for the six months ended June 30, 2014 against $130.4 million or $0.84 per diluted share for the same period of last year. Operating cash flow was $346.2 million for the six month period ended June 30, 2014. Ultra's reported net income was $207.8 million, or $1.34 per diluted share for the first half of 2014 against $132.8 million or $0.86 per diluted share for the same period of last year. Six month results included an unrealized, mark-to-market loss of $14.1 million on the company's commodity hedges. The unrealized loss is typically excluded by the investment community in published estimates. Total operating revenues were $296,063,000 against $261,376,000 for the same period of last year. Income before income taxes was $105,505,000 against $117,868,000 for the same period of last year. Net cash provided by operating activities was $171,076,000 against $141,274,000 for the same period of last year. For the second quarter of 2014, production of natural gas and oil was 58.5 billion cubic feet equivalent (Bcfe). This takes into account unforeseen pipeline disruptions resulting in 1.1 Bcfe of deferred production. The company's production for the second quarter was comprised of 54.0 billion cubic feet (Bcf) of natural gas and 758,800 barrels (Mbls) of oil. Oil production increased 154% from the same period last year. During the second quarter of the year, Ultra Petroleum's average realized natural gas price was $3.61 per thousand cubic feet (Mcf), including realized gains and losses on commodity hedges. Excluding realized gains and losses on commodity derivatives, the company's average realized price for natural gas was $4.23 per Mcf. The company's average realized oil price was $84.24 per barrel (Bbl), including realized gains and losses on commodity hedges. Excluding these effects, the second quarter 2014 average realized price for oil was $88.94 per Bbl. During 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 during the quarter. For the six months ended June 30, 2014, production of natural gas and oil was 115.8 Bcfe. The company's production for the six months ended June 30, 2014 was comprised of 107.3 Bcf of natural gas. Oil was 1.4 million barrels (Mmbls), a 150% increase from the same period last year. The company's average realized natural gas price was $4.28 per Mcf, including realized gains and losses on commodity hedges during the six months ended June 30, 2014. Excluding realized gains and losses on commodity derivatives, the company's average price for natural gas was $4.66 per Mcf. The company's average realized oil price was $82.47 per Bbl, including realized gains and losses on commodity hedges. Excluding realized gains and losses on commodity derivatives, the company's average price for oil in the six months ended June 30, 2014 was $86.28 per Bbl. Year to date, Ultra Petroleum and its partners drilled 75 gross (46 net) Wyoming Lance wells and placed on production 81 gross (48 net) wells. The company produced 80.6 Bcfe from Wyoming during the first six months of 2014. The company's third quarter production is expected to range between 60 - 62 Bcfe. The company is tightening its guidance range to 243 - 250 Bcfe, establishing mid-point guidance of 246.5 Bcfe. The table details estimated production by quarter for 2014: In the third quarter of 2014, the company's realized natural gas price is expected to average 8 to 10% below NYMEX, prior to hedging adjustments. This takes into account a negative $0.12 differential for Wyoming volumes and a negative $1.90 differential for northeastern Pennsylvania volumes. Realized pricing for oil is expected to be about 15 - 18% below the average NYMEX price, before consideration of any hedging activity. Total operating costs per Mcfe expected to be about $3.07 -- 3.25. Ultra currently projects a zero book tax rate for 2014 and does not anticipate paying any cash taxes. For 2014, the company has adjusted the top end of the annual production guidance from 253 Bcfe to 250 Bcfe to account for external events.

Ultra Petroleum Corp. Announces Management Changes, Effective August 1, 2014

Ultra Petroleum Corp. announced that its Board of Directors is promoting Garland R. Shaw to Senior Vice President and Chief Financial Officer, effective August 1, 2014, and that Marshall (Mark) D. Smith, the current Senior Vice President and Chief Financial Officer, is resigning to accept a new position at a larger company. Mr. Smith will continue in his current role until August 1, 2014 to assist with second quarter financial reporting. Since joining Ultra Petroleum in 2006 as Corporate Controller, Mr. Shaw has earned roles with increasing leadership and responsibility, including his promotion to the executive leadership team as Vice President and Controller in 2013.

 

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup
Recently Viewed
UPL:US $26.22 USD -0.14

UPL Competitors

Market data is delayed at least 15 minutes.

Company Last Change
Atlas Pipeline Partners LP $36.30 USD -0.13
BreitBurn Energy Partners LP $22.52 USD +0.02
Carrizo Oil & Gas Inc $60.80 USD +0.66
Questar Corp $23.31 USD -0.01
Rosetta Resources Inc $49.04 USD +0.06
View Industry Companies
 

Industry Analysis

UPL

Industry Average

Valuation UPL Industry Range
Price/Earnings 13.0x
Price/Sales 3.8x
Price/Book NM Not Meaningful
Price/Cash Flow 7.2x
TEV/Sales 1.5x
 | 

Sponsored Financial Commentaries

Sponsored Links

Report Data Issue

To contact ULTRA PETROLEUM CORP, please visit www.ultrapetroleum.com. Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.