Ultra Petroleum (UPL) Tops Q3 EPS by 3c

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Go back to Ultra Petroleum (UPL) Tops Q3 EPS by 3c

Ultra Petroleum Announces Third Quarter 2018 Results, Provides Operations Update and Names David Honeyfield as Chief Financial Officer and Andrew Kidd as General Counsel

November 8, 2018 8:45 AM EST

ENGLEWOOD, Colo., Nov. 08, 2018 (GLOBE NEWSWIRE) -- Ultra Petroleum Corp. (NASDAQ: UPL) (Ultra Petroleum or the Company) announces financial and operating results for the quarter ended September 30, 2018.

Financial and Operating Highlights:

Third quarter 2018 production averaged 734 MMcfe/d, above mid-point of guidance,  Brought 19 vertical wells online with average 24-hour IP rate of 7.4 MMcfe/d, Reduced vertical well costs to $3.3 million, a 10% reduction from second quarter 2018, with continued reductions expected,  Closed the previously announced sale of its Utah assets for $75 million with proceeds used to fully pay... More