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Gold/Mining/Energy : Ultra Petroleum (UPL) -- Ignore unavailable to you. Want to Upgrade?

To: Gerald Atwater who wrote (4209)	7/31/1999 2:45:00 PM
From: J. D. Main	Respond to of 4851

Hi Everyone....Nice story here about McMurry Oil Co. and the role they are playing in SW Wyoming. (I sure wish this Co. would go Public.....They are indeed a "player"..... Story taken from: Pinedale Roundup P.O. Box 100 Pinedale, WY. 82941 Thanks to: Janet Montgomery Managing Editor Cat Urbigkit Staff Reporter McMurry Oil Company continues development Casper independent McMurry Oil Company is continuing development activity in Sublette Country's Jonah Field. Jonah remains Wyoming's most active oil and gas development place and perhaps the most active in the Rocky Mountain area according to a press release. Currently there are 107 producing gas wells and 15 wells at various stage of completion. Daily field production is limited to 220 million cubic feet per day and 2100 barrels per day of oil due to pipeline and compressor limitations. With recent Opal Hub natural gas prices at $1.99 per MCF, McMurry Oil Co. expects to keep drilling with at least two drilling rigs for the next two years. BP/Amoco is drilling with one rig while London management determines its future commitment to the southwestern Wyoming area. The present drilling activity requires at least three completion rigs and crews working on a continuous schedule. Approximately five to six separate frac stimulations are also performed each week requiring 50 crew members per day. McMurry Oil Company, through its subsidiary, Jonah Gas Gathering Company, is under way with its $25 million pipeline and compressor enlargement project. This badly needed pipeline project had been delayed six months by an unforeseen BLM Environment Assess- ment (EA) requiring public comment periods. When the pipeline and compressor projects are complete in September, Jonah Field daily production will in- crease to 260 million cubic feet per day with system capacity at 400 million cubic feet per day, providing a larger revenue stream to the operators and Sublette County Government. Northwinds of Douglas, U.W.I. of Evanston and Bluewater Constructions of Casper, are the major contractors providing services to complete the projects. As the Jonah Field reserves continue to increase to one of the largest natural gas fields in Wyoming, McMurry Oil Co. is preparing to drill to deeper, untested reservoirs. McMurry Oil Co. is working with the Pinedale BLM office to permit a 20,000-foot deep test to the Frontier sand during the third quarter 1999. McMurry Oil Co. and other operators are also participating with the Pinedale BLM to reduce drill pad spacing to 40 acres to effectively drain this huge storehouse of natural gas. The End I like the part about reducing drill pad spacing to 40 acres. Jean and Lou are "alive and well".

To: Gerald Atwater who wrote (4209)	7/31/1999 4:44:00 PM
From: lostmymoney	Respond to of 4851

Thanks gerald EOM

To: Gerald Atwater who wrote (4209)	8/2/1999 12:35:00 PM
From: Hickory	Read Replies (1) \| Respond to of 4851

Gerald, Thanx for the Adda addy. However, they don't provide any news on the Cottonwood and Luman wells more recent than last August. In the oil patch no news is bad news. And the Daniel well has been given back to the landowner. UP's huge acreage may turn out to be little more than that--huge acreage, especially now that they have almost given away a 50% share of their few prolific producers. More and more an investment in UP is looking like a dry hole for stockholders. My guess is that Anschutz and Questar will gradually take over most of the company at bargain prices and then exploit the more prospective of its forked-over landholdings. Them that has, gits more and them that hasn't lose what little they had. Cash is king! and UP don't have enuf cash to do much of anything.