Ultra Petroleum Corp. is an independent exploration and production company focused on producing and developing its long-life natural gas reserves in the Green River Basin of Wyoming – the Pinedale and Jonah Fields.
An Ultra Petroleum success story
During the field’s early years, many wells encountered natural gas shows, and some were capable of producing gas at rates up to one million cubic feet per day. However, most only produced a fraction of that amount.. The limited economic success of the early wells was the result of poor geologic understanding and ineffective completion technology. As a result, the Pinedale/Jonah structural complex remained largely ignored until 1995 when the first successful well in Jonah Field was completed.
In 1997, Ultra drilled the Mesa 15-8 well in the northern part of Pinedale Field. This well, along with other successful wells drilled the same year by McMurry Oil, marked the birth of successful development in Pinedale and Jonah Fields. Both fields have been under aggressive development ever since.
Ultra aggressively acquired leasehold over Pinedale Field in 1997, and now owns by far the largest acreage position over this prolific field, more than four times the next largest owner. All of the acreage that Ultra’s technical team considers prospective, over 75% of the total, is held by production with no risk of expiration. This enables Ultra to develop the resource in a very efficient and economically advantageous manner without being driven by leasehold management concerns. In 2008, the Bureau of Land Management (BLM) issued the Pinedale Record of Decision (ROD) that provided Ultra year-round access to the field for drilling and completion activities. This additional access has led to increased drilling efficiencies and allowed for an accelerated development plan. The Wyoming Oil and Gas Conservation Commission (WOGCC) has approved field-wide drilling on 5-acre spacing, which will ultimately lead to more efficient development and higher over-all gas recovery from the field.