Profile: Ultra Petroleum Corp (UPL.O)
24 May 2019
Ultra Petroleum Corp. (Ultra), incorporated on November 14, 1979, is an oil and gas company. The Company is engaged in the development, production, operation, exploration and acquisition of oil and natural gas properties. Its principal business activities are developing its natural gas reserves in the Green River Basin of southwest Wyoming-the Pinedale and Jonah fields, its oil reserves in the Uinta Basin in northeast Utah and its natural gas reserves in the north-central Pennsylvania area of the Appalachian Basin. The Company conducts its operations in the United States. The Company focuses on sands of the upper Cretaceous Lance Pool in the Pinedale and Jonah fields. The Lance Pool includes sands of the Lance formation at depths between approximately 8,000 and 12,000 feet and the Mesaverde formation at depths between approximately 12,000 and 14,000 feet.
The Company owned oil and natural gas leases totaling approximately 112,000 gross (77,000 net)) acres in southwest Wyoming's Green River Basin. As of December 31, 2017, approximately 39,000 gross (25,000 net) acres were developed, and 73,000 gross (52,000 net) acres were undeveloped. As of December 31, 2017, the Company owned 67 leases totaling 79,000 gross (54,000 net) acres that are held by production and activities (HBP). The HBP acreage includes all of the Company's leases within the productive area of the Pinedale and Jonah fields.
Ultra Petroleum Corp
116 Inverness Dr E Ste 400
ENGLEWOOD CO 80112-5125