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Ultra Petroleum Corp -
Ultra Petroleum updates drilling activities
Ultra Petroleum Corp UP
Shares issued 56,751,125 2000-08-08 close $2.58
Wednesday Aug 9 2000
Mr. David Russel reports
Ultra Petroleum has provided a drilling update on activity in the Green River Basin area of Wyoming.
Michael D. Watford, Ultra's chief executive officer, commented: "Ultra's 2000 drilling program is under way and we are very pleased with our results. The first Jonah wells are coming in as planned both in terms of production and costs. This increased production will fuel the cash flow necessary to exploit our much larger holdings on the Pinedale Anticline where drilling is expected to start next week. The third and fourth quarters of this year will see increases of several multiples in our production and cash flow."
Jonah field
SHB 10-23 : TD 12,424 feet
Eleven frac intervals were completed. Twenty-four-hour flow-back yielded nine million cubic feet of natural gas, 129 barrels of condensate at average FTP 1,700 pounds per square inch.
SHB 14-23 : TD 11,995 feet
Five frac intervals were completed in the lower half of the well. Twenty-four-hour flow-back yielded six million cubic feet. The upper five frac intervals are being completed today.
SHB 2-23 : TD 12,630 feet
Completions are to commence Aug. 14-16.
SHB 4-24 : Reaching TD of 12,700 feet today.
Completions are to commence Aug. 17-19.
SHB 6-23 : Spudding today. Anticipated TD 12,100 feet.
Pinedale Anticline
On the Pinedale Anticline, Ultra will be participating in 10 wells over the next 90 days. Three wells, the Mesa 3-20, Mesa 13-5 and Stewart Point 6-32 will spud over the next few days. |
