Ultra Petroleum Company News

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Houston Court Cuts into Delaware's Bankruptcy Business
Wednesday, May 11, 2016When energy prices began to plummet nearly two years ago, oil companies with billions of dollars in debt followed a well-worn path to the busiest US Bankruptcy Court for large Chapter 11 cases, in Wilmington, Delaware.

Midstates Petroleum, Ultra File for Bankruptcy Amid Weak Oil Price
Monday, May 02, 2016Midstates Petroleum and Ultra Petroleum file for Chapter 11 bankruptcy protection, joining several companies that have been unable to meet debt obligations after a steep decline in energy prices.

Oil Boom Built on Junk Debt Sees $19B Default Wave
Friday, March 11, 2016Investors face $19 billion in energy defaults as the worst oil crash in a generation leaves drillers struggling to stay afloat.

Ultra Petroleum Touts 4.4 Tcfe for 2010
Friday, February 18, 2011Ultra Petroleum reported 4.4 trillion cubic feet equivalent (Tcfe) of total proved crude oil and natural gas reserves for the year-ended December 31, 2010.

Ultra Petroleum Lifts Proved O&G Reserves by 11%
Friday, February 12, 2010Ultra Petroleum's total proved oil and gas reserves for year end 2009, were 3.91 trillion cubic feet of gas equivalent, an 11 percent increase from 3.52 Tcfe as of December 31, 2008.

Ultra Resources Arranges $500MM Private Placement
Wednesday, December 23, 2009Ultra Petroleum's wholly owned subsidiary Ultra Resources has entered into an agreement with a group of thirteen institutional investors providing for the private placement of $500.0 million in Senior Unsecured Notes.

Ultra Petroleum Snaps Up Marcellus Shale Acreage
Monday, December 21, 2009Ultra Petroleum has signed a purchase and sale agreement to acquire approximately 80,000 (net) acres in the Pennsylvania Marcellus Shale, from a private company.

Korean Firms Test Water Offshore China
Thursday, June 04, 2009Majuko Group's purchase of a stake in an oil block near Hong Kong could pave the way for more deals offshore China by Korean firms.

Ultra Ups Full Year '07 Production Target to 31%, Announces Retirements
Friday, December 28, 2007Ultra Petroleum Corp. announced that for the third time this year, it is increasing 2007 production guidance. The new production guidance for 2007 is 120.0 billion cubic feet of gas equivalent increased from the previous guidance of 116.5 Bcfe.

Ultra Delivers 22% Organic Production Growth in 3Q 2007
Wednesday, October 31, 2007Ultra Petroleum reported 22% organic production growth in the third quarter of 2007.

Ultra Petroleum to Sell Bohai Bay Assets for $223 Million
Thursday, September 27, 2007Ultra Petroleum has executed a stock purchase agreement for the sale of Sino-American Energy for $223 million. This represents all of Ultra's interests in Bohai Bay, China.

Ultra Sees Record Production in Second Quarter 2007
Wednesday, August 08, 2007Ultra's natural gas and crude oil production for the quarter ended June 30, 2007 increased 57% to 30.5 billion cubic feet equivalent (Bcfe) compared to 19.5 Bcfe for the second quarter of 2006.

Ultra Petroleum Celebrates its Transfer to NYSE
Monday, August 06, 2007Ultra Petroleum celebrated its transfer from the American Stock Exchange to the New York Stock Exchange, where it will continue to trade under the ticker symbol "UPL."

Ultra Petroleum to List on the NYSE
Friday, July 13, 2007Ultra Petroleum looking to list its common stock on the NYSE under symbol "UPL". The application is pending approval however, the first day of trading is expected to be August 3, 2007.

Ultra's Q1 Profit Remains Flat
Wednesday, May 02, 2007Ultra Petroleum Corp. on Tuesday reported earnings for the first quarter 2007.

Newfield, Ultra Plot Sale of China Oil Block Stakes
Friday, April 20, 2007Newfield Exploration and Ultra Petroleum are preparing to put their stakes in an oil block in northern China's Bohai Bay up for sale, people familiar with the matter said.

Ultra Boosts Q1 Production by 42%
Friday, April 20, 2007Ultra Petroleum Corp. on Friday reported the largest quarterly production in the company's history.

Ultra Petroleum: Record Results for 2006
Wednesday, February 21, 2007Ultra Petroleum Corp. on Tuesday reported record financial and operating results for the fourth quarter and full-year 2006.

CNOOC Achieves First Oil in Bohai Bay Fields
Wednesday, October 25, 2006CNOOC Limited said that Caofeidian (CFD) 11-6/12-1S fields in Bohai Bay have come onstream successfully on schedule.

Ultra Gets Okay for Additional Density Drilling
Wednesday, July 12, 2006Ultra Petroleum Corp. reported that it has obtaining approval from the Wyoming Oil and Gas Conservation Commission (WOGCC) for additional 10-acre down-spacing on the Pinedale Anticline.

Ultra Reports Exploration Success in Pennsylvania
Thursday, June 29, 2006Ultra Petroleum Corp. said that its Marshlands #1 exploration well in Tioga County, Pa. is on-stream producing natural gas.

Ultra Petroleum to Buy Back $1 Billion in Shares
Friday, May 19, 2006The Board of Directors of Ultra Petroleum Corp. have authorized a share repurchase program for up to an aggregate $1 billion of the company's outstanding common stock.

Ultra Petroleum Increases Proved Reserves By 32 Percent
Tuesday, January 24, 2006Ultra Petroleum says that as of the year-ended December 31, 2005, its total proved oil and gas reserves were 2.022 trillion cubic feet of gas equivalent (Tcfe), up 32 percent from 1.528 Tcfe as at December 31, 2004.

Ultra Petroleum Announces $425 Million Capital Budget for 2006
Wednesday, October 26, 2005Ultra Petroleum says that the company's Board of Directors approved the 2006 capital budget of $425 million, an increase of 47 percent over the $290 million currently forecast for 2005.

Ultra Petroleum Announces Approval of 10 Acre Pilot Program
Wednesday, July 20, 2005Ultra Petroleum reports that the Wyoming Oil and Gas Conservation Commission approved Ultra's request for five 10-acre pilot programs on Ultra's Pinedale Anticline acreage.

Ultra Petroleum Starts New Production in China
Tuesday, July 19, 2005Ultra Petroleum reports that first oil was achieved on July 6th at their CFD 11-3 & CFD 11-5 fields located at Bohai Bay, China.

Ultra Petroleum's Proved Reserves Increase 42%
Tuesday, January 18, 2005Ultra Petroleum reports that year-end 2004 corporate proved reserves were 1.528 Tcfe, a 42% increase over year-end 2003 reserves

Ultra Begins First Sale of Oil From China Fields
Monday, September 27, 2004Ultra Petroleum reports, through its wholly-owned subsidiary, Sino-American Energy, initial oil sales commenced from its first two fields brought on production in Bohai Bay, China.

CNOOC Brings CFD 11-1/11-2 On Stream Ahead of Schedule
Tuesday, July 20, 2004CNOOC Limited reports that Caofeidian ("CFD") 11-1/11-2 have come on stream successfully ahead of schedule. It is expected that gross production will reach 15,000 - 20,000 barrels of oil per day within the next several months.

Ultra to Begin Drilling Pinedale Anticline Acreage
Thursday, July 15, 2004Ultra Petroleum receives approval to drill on the Pinedale Anticline acreage in Wyoming.

Ultra Voluntarily Delists from Toronto Stock Exchange
Friday, March 26, 2004Ultra Petroleum Corp. announced that as of the close of business on March 31, 2004 the Toronto Stock Exchange (TSX) accepted Ultra's request to voluntarily delist all its common shares from trading on the TSX.

Ultra Petroleum Proved Reserves Increase 53% to 1.073 Tcfe
Tuesday, February 10, 2004Ultra Petroleum reports that year-end 2003 proved reserves from its Wyoming properties were 1.073 Tcfe, a 53% increase over year-end 2002 reserves of 700.5 Bcfe.

Ultra Petroleum to Begin Pilot Program at Pinedale
Tuesday, October 07, 2003Ultra Petroleum has received the go ahead to begin drilling 32 wells on its 20-acre Pinedale Anticline in Wyoming

Ultra Petroleum Continues Success in Bohai Bay, China
Wednesday, September 03, 2003Sino-American Energy has participated in two additional successful wells in Block 04/36 in Bohai Bay.

Ultra Petroleum Makes Bohai Bay Discovery
Wednesday, July 16, 2003Ultra Petroleum has discovered oil with the CFD 12-7-1 appraisal well in Bohai Bay offshore China.