We believe we have 15 Tcfe net risked resource in the Rockies, ranking us as one of the largest E&P companies in North America.

Ultra Petroleum has the largest acreage position in the Pinedale Field, which is rated one of the top five natural gas fields in the United States.

Ultra Petroleum owns approximately 112,000 gross (56,000 net) acres of leases in and around the prolific Jonah and Pinedale natural gas fields of the Greater Green River Basin in southwest Wyoming. In 2008, both the Pinedale and Jonah Fields were among the top ten U.S. natural gas plays based on proved reserves. Ultra Petroleum operates over 60 percent of this acreage position and currently has an interest in approximately 1,300 producing wells in the field.

As of year-end 2009, Ultra has 3.9 Tcfe of proved reserves in the Pinedale and Jonah Fields, which represents an 11 percent increase over year-end 2008. Ultra’s proved, probable and possible (3P) reserves were 14.6 Tcfe at year-end 2009, nearly 3 Tcfe was added to the 3P reserves last year. Ultra’s third-party reservoir engineering firm, Netherland, Sewell & Associates, Inc. (NSAI), has identified an inventory of over 5,500 economic, future drilling locations with average per location reserves of almost 4.5 Bcfe.

The Bureau of Land Management (BLM) issued the Pinedale Record of Decision (ROD) in September 2008. Under the ROD, Ultra Petroleum gains year-round access to the Pinedale Field for drilling and completion activities in development areas. This additional access has lead to increased drilling efficiencies and allowed for accelerated development of the field.