Ultra Petroleum Vs. Bill Barrett: The East Bluebell Conundrum
- Presenting at a conference last week, Bill Barrett provided an update with regard to its Uinta Basin oil program.
- The rate of return estimate for East Bluebell is increased from 40% to 60%. A type curve is presented for the first time.
- Bill Barrett's type curve is noticeably different from the historical production data shared several months ago by Ultra Petroleum for its adjacent Three Rivers property.
- Should Bill Barrett's type curve prove overly conservative, realized drilling returns on the southern portion of the East Bluebell block may end up substantially higher than currently estimated.