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Place de cotation: TORONTO
(UP)
Ultra Petroleum is a publicly
traded (AMEX - UPL, TSE - UP), rapidly growing independent exploration
and production company focused on its core properties in the Green River
Basin of southwestern Wyoming and the shallow waters of Bohai Bay, China.
Ultra controls more than 188,000 gross (122,000 net) acres in and around
the prolific 25 square mile Jonah natural gas field (3 Tcf+) and the 100
square mile Pinedale Anticline area and has an interest in two massive
oil exploration / development blocks (687,000 acres) in Bohai Bay, China.
Ultra leverages human and technical resources to unlock the potential of
its properties with the goal of growing proved reserves to at least 1 Tcfe
by year-end 2004. Ultra expects its reserves to grow to multiple Tcfe from
its core properties over time. Ultra has drilled 99 out of 103 successful
wells since 2000. In the four years since 1998, Ultra has grown proved
reserves sixteen-fold to over 700 Bcfe from Wyoming alone. Production for
the last 4 years has grown at an average compound annual growth rate of
54% to 17.4 Bcfe in 2002.
http://www.ultrapetroleum.com/
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