Ultra Petroleum (UPL -0.6%) CEO Mike Watford believes natural gas prices are on the cusp of a...

|About: Ultra Petroleum Corp. (UPLMQ)|By:, SA News Editor

Ultra Petroleum (UPL -0.6%) CEO Mike Watford believes natural gas prices are on the cusp of a recovery driven by industry-wide supply cutbacks, and that higher prices should start to take hold next year, assuming a normal winter. Industry efforts to cut gas output are finally taking hold, he says, even though UPL's 2012 production will end up higher than in 2011.