Ultra Petroleum Corp., an independent oil and gas company, engages in the development, production, operation, exploration and acquisition of oil and natural gas properties. The company’s operations are primarily located in the Green River Basin of southwest Wyoming; the north-central Pennsylvania area of the Appalachian Basin; and the Uinta Basin in northeast Utah. Green River Basin, Wyoming As of December 31, 2013, the company owned oil and natural gas leases totaling approximately 84,000 gross (49,000 net) acres in southwest Wyoming’s Green River Basin. Most of this acreage covers the Pinedale and Jonah fields. Of the total acreage position in Wyoming, approximately 22,000 gross (10,000 net) acres were developed, and 62,000 gross (39,000 net) acres were undeveloped. The company owns 58 leases totaling 69,000 gross (37,000 net) acres that are held by production and activities (HBP). During 2013, the company participated in the drilling of 58 gross (23.2 net) productive development wells on the Green River Basin properties. During 2013, the company participated in the drilling of a total of 55 gross (31.1 net) productive exploratory wells on the Green River Basin properties. During 2013, the company participated in the drilling of 129 wells in Wyoming. Pennsylvania As of December 31, 2013, the company owned oil and gas leases covering 473,000 gross (250,000 net) acres in the Pennsylvania portion of the Appalachian Basin. Of the total acreage position as of December 31, 2013, approximately 119,000 gross (63,000 net) acres were developed, and 354,000 gross (187,000 net) acres were undeveloped. The company operates approximately 96,000 gross (64,000 net) acres of the total position. The company owns approximately 345,000 gross (181,000 net) acres held by production or activities in Pennsylvania. Exploratory Wells: During the year ended December 31, 2013, the company participated in the drilling of a total of 20 gross (9.9 net) productive exploratory wells on the Pennsylvania properties. Uinta Basin, Utah As of December 31, 2013, the company owned oil and natural gas leases covering 8,000 gross (8,000 net) acres in the Utah portion of the Green River Basin. This acreage is located in Uintah County in the eastern portion of the Uinta Basin. As of December 31, 2013, approximately 2,000 gross (2,000 net) acres were developed, and 6,000 gross (6,000 net) acres were undeveloped. The company owns approximately 6,000 gross (6,000 net) acres held by production or activities in Utah. Exploratory Wells: In 2013, the company participated in the drilling of a total of 2 gross (2.0 net) productive exploratory wells on the Utah properties. Natural Gas Marketing The company sells all of its natural gas production to a diverse group of third-party, non-affiliated entities in a portfolio of transactions of various durations and prices (daily, monthly and longer term). The company’s customer base includes various customers situated in the various regions of the United States. Oil Marketing Wyoming: The company markets its Wyoming condensate to various purchasers, which are primarily refiners in the Salt Lake City, Utah area. Strategy The company’s strategy is to seek to maintain a portfolio of properties that provide long-term, profitable growth through development in areas that support sustainable, lower-risk, repeatable, high return drilling projects; and proactive and regular review of its portfolio of investment opportunities with a focus on investments that produce positive returns to optimize return to its shareholders. History Ultra Petroleum Corp. was founded in 1979. The company was incorporated in 1979, under the laws of the Province of British Columbia, Canada.
ultra petroleum corp (UPL:New York)
400 North Sam Houston Parkway East
Houston, TX 77060
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