Ultra Petroleum Announces Third Quarter 2018 Results, Provides Operations Update and Names David Honeyfield as Chief Financial Officer and Andrew Kidd as General Counsel
ULTRA PETROLEUM CORP COMMON (UPL)
Last ultra petroleum corp common earnings: 5/9 06:00 am
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US:NYSE Investor Relations:
ultrapetroleum.com
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Source: GlobeNewswire
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 down the revolver balance at September 30, 2018, Liquidity as of September 30, 2018 of $338 million, including cash and availability under the revolver, Names two new executives, Chief Financial Officer and General Counsel, Completed relocation of the Company’s headquarters from Houston, Texas to Englewood, Colorado, and Additional financial and operating hig
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