Ultra Petroleum takes long-term approach to future growth

Ultra Petroleum Corp. is a rapidly growing US independent based in Houston that focuses on its core assets in the Green River basin of southwestern Wyoming and in the shallow waters of Bohai Bay in China.Ultra owns more than 188,000 gross acres in and around the prolific 25 sq mile Jonah natural gas field and the 100 sq mile Pinedale anticline area. It also holds interest in two massive oil exploration and development blocks in Bohai Bay.Ultra has set its sights on increasing its proved reserves to at least 1 tcfe by yearend 2004.Since 2000, Ultra has drilled 99 successful wells out of 103 total wells drilled. Early beginnings Ultra Petroleum Corp. Chairman, Pres., and CEO Michael Watfor...

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