For 2019, Ultra Petroleum's capital investment program is expected to be approximately $320 - $350 million. The drilling, completion and equipment capital for their operated program is estimated at $275 - $295 million and participation in wells operated by others is estimated at approximately $27 - $33 million. Other capital of $18 - $22 million includes facility, leasehold, seismic and other capitalized costs. Ultra plan to run three operated rigs dedicated to drilling vertical wells in the core of Pinedale. The company expect to fund these capital expenditures primarily through cash flows from operations and cash on hand, as well as availability under their Revolving Credit Facility.

2019 Production Forecast

Ultra’s 2019 annual production is expected to range between 240-250 Bcfe. In the first quarter, the average daily production rate is expected to range between 675-695 MMcfe/d.

KeyFacts Energy: CapEx news