Ultra Petroleum Corp -
Ultra Petro to begin development of Pinedale area
Ultra Petroleum Corp UP
Shares issued 56,751,125 2000-07-28 close $2.5
Monday Jul 31 2000
Mr. Michael Watford reports
On July 27, 2000, the Bureau of Land Management signed the record of decision on the Pinedale anticline EIS, allowing for the drilling of 700 producing surface locations.
"As the largest leaseholder in the Pinedale anticline area, we are thrilled with this decision. This much anticipated signing positions us to begin full-field development on our Pinedale anticline acreage. Our future drilling activity, supported by 3-D seismic data, will facilitate strong growth in our cash flow, reserves and ultimately shareholder value. We plan to participate in at least 10 wells in this area over the next several months, starting as soon as permits are issued," stated Michael D. Watford, chairman, chief executive officer and president. |
