Ultra Petroleum Corp (UPL) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2018

Fourth quarter and full-year 2018 production was within guidance at 64.3 billion cubic feet equivalent (“Bcfe”) and 275.1 Bcfe, respectively,

During 2018, Ultra turned online to sales 94 gross (79.4 net) operated vertical wells and 16 gross (11.8 net) operated horizontal wells in its Pinedale field,

In the fourth quarter of 2018, Ultra brought 23 gross (21.1 net) operated vertical wells online with average 24-hour initial production (“IP”) rate of 8.3 million cubic feet equivalent per day (“MMcfe/d”),

Total capital invested in the fourth quarter was $87.8 million with fourth quarter completed vertical well cost reduced to $3.1 million,

Ultra’s consolidated net leverage ratio as defined in its Revolving Credit Facility, was 3.95 times as of December 31, 2018, and the Company had $17 million of cash on hand and full availability under its Revolving Credit Facility up to its undrawn balance of $221 million based on the $325 million of capacity under the updated borrowing base,

As of February 28, 2019, the Company had cash of approximately $6 million and had reduced its outstanding balance under its Revolving Credit Facility to $41 million, leaving $284 million of undrawn balance

The Company completed the previously announced debt exchanges which have resulted in a reduction of debt of approximately $252 million, including exchanges completed subsequent to year end,

The Company received a favorable ruling in the appeal of make-whole claims that had been asserted against the Company, and

Additional financial and operating highlights can be found in the new investor presentation posted at www.ultrapetroleum.com.