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.

Beginning in 1939 with the drilling of the first well, the Pinedale Field underwent sporadic and largely unsuccessful exploratory activity until 1997.

During those early years, many wells encountered gas shows and some were capable of producing gas at rates up to one million cubic feet per day, although most only produced a fraction of that amount. The limited economic success of these early wells was the result of both a poor understanding of the geology and ineffective completion technology. As a result, this area remained largely unnoticed until 1995 with the initial success of the Jonah Field and has been under aggressive development ever since.

Since 1997, Ultra has been acquiring leasehold interest on the Pinedale Field and is now the largest interest owner in this prolific natural gas field. All of Ultra's currently prospective acreage is now held by production. In 1997, Ultra drilled the Mesa 15-8 well on the northern portion of the field. This well, along with several successes drilled the same year to the south by McMurry Oil, marked the beginning of the current phase of successful development of the Pinedale Field.