- Ultra Petroleum raised its 2014 exit production guidance for Uinta to 11,000 barrels of oil per day (gross).
- If guidance is achieved, the Uinta will contribute significantly to Ultra's EBITDA and promises to become the fastest growing and most profitable asset in the company's portfolio.
- Ultra estimates PV-10 value of 2P reserves in the Uinta at $1.4 billion, which is significant given the company's $3.9 billion market capitalization.
- Take-away capacity may remain the limiting factor for crude production growth in the basin.
During its fourth quarter earnings call last week, Ultra Petroleum (UPL) provided an update on its operating progress in the recently acquired Three Rivers asset in the Uinta Basin. The estimate for...
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