Ultra Petroleum (UPL) Message Board

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Gold/Mining/Energy : Ultra Petroleum (UPL)

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To: driller1 who wrote (4497)	11/9/1999 11:05:00 PM
From: dgz	Read Replies (1) of 4851

Remember the days when we all got so excited because the wells were coming in at 10 mmcfd. Those same wells now only produce about 1 mmcfd and most have yet to finish paying out to Halliburton and Western. What's painfully obvious is that UP gave away the farm on all its first 30 or 40 wells to the tune where they will end up with only a dribble for the next 20 years until those wells are eventually abandoned. These latest wells are a little better, but UP had to give away its best acreage in the process. It's basically like starting from scratch all over again. Hopefully they learn to do it right and make better deals in the future.

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