Ultra Petroleum Corporation - Introduction

Introduction

363 N. Sam Houston Parkway East, Suite 1200
Houston, Texas 77060
U.S.A.
Telephone: (281) 876-0120
Fax: (281) 876-2831
Web site: http://www.ultrapetroleum.com

Public Company
Incorporated: 1979
Employees: 31
Sales: $258.03 million (2004)
Stock Exchanges: American
Ticker Symbol: UPL
NAIC: 211111 Crude Petroleum and Natural Gas Extraction

With its headquarters in Houston, Texas, Ultra Petroleum Corporation is an independent oil and gas company focusing on two core properties: southwestern Wyoming and Bohai Bay, China. Ultra holds interests in more than 100,000 acres in Wyoming, intersecting the Jonah natural gas field and the Pinedale Anticline region, where since 2000 the company has enjoyed tremendous success drilling for gas, leading to a dramatic rise in the valuation of the company's stock. Ultra also is developing properties in the shallow waters of Bohai Bay, an area with excellent prospects and one that the company's management team likens to the Gulf of Mexico in the early 1960s. The production of oil from nine already discovered fields in Bohai Bay are expected to represent an increasing percentage of the company's reserves and production in the years to come. Given the potential for even more discoveries in Bohai Bay, and China's growing demand for oil, it is little wonder that investors have taken notice of a company that for most of its history has been little more than a bit player in the energy industry. Ultra is a publicly traded company, listed on the American Stock Exchange.