Ultra taps gas, condensate in Wyoming, Pennsylvania

Ultra Petroleum Corp., Houston, said it produced 56.6 bcf of natural gas and 299,100 bbl of condensate in Wyoming and Pennsylvania in the quarter ended June 30.

Net production from Wyoming averaged 456 MMcfd of gas equivalent in the quarter, during which Ultra and its partners placed on production 36 gross wells with initial production that averaged 7.2 MMcfed.

Ultra averaged a record 9.6 days from spud to total depth in the quarter with 60% of all operated wells being drilled in less than 10 days. The average for all wells was 12.2 days.

Ultra initiated production from 7 gross wells in Pennsylvanian, where initial producing rates in its Marcellus program averaged 6.4 MMcfed for the new wells placed online during the quarter. Second quarter Pennsylvania net production averaged 186 MMcfed.

The company has 900 sq miles of 3D seismic across two thirds of its 260,000 net acres and is acquiring a further 35 sq miles over its operated acreage position. Ultra expects the additional 3D will further delineate Marcellus sweet spots and expand understanding of the Geneseo formation.

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