Pinedale Anticline operator reduced its A hopeful
spring forecast from Ultra Resources for this
year and next is tempered by continuing low
natural gas prices.
Pinedale Anticline operator reduced its
drilling rigs from three to two in May and in
the third quarter, to one, according to Ultra
Petroleum’s Aug. 9 update for the second
quarter of this year.
“In May, (Ultra) elected to decrease its
operated rig count from three to two rigs, in
response to natural gas price forecast at the
time,” it states. “The impact to full year production
was somewhat muted in that (Ultra)
improved the drilling time for new wells and
enjoyed a higher working interest in the wells
drilled in the first half of the year.”
In March at the Pinedale Anticline Projectdrilling rigs from three to two in May and in
the third quarter, to one,
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