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Ultra Petroleum announces hedging update


Published Jan 14, 2015
Ultra Petroleum Corp.

Ultra Petroleum Corp. has placed fixed price natural gas swaps for 2015 of 123.3 Bcf at a weighted average price of $4.00 per Mcf. A large majority of the swaps are in the second and third quarters of the year where it is estimated that approximately 70 percent of the company's natural gas production is hedged.

The company opportunistically hedges a portion of its forecasted production to lessen the volatility associated with swings in commodity prices and improve the certainty of cash flows in support of its capital investment program.

Ultra Petroleum exited 2014 with 85 percent of the company's outstanding borrowings comprised of fixed-rate debt with an average remaining term of 6.4 years and a 5.8 percent weighted average coupon rate. The company has $482.0 million of available liquidity under its $1.0 billion revolver.

Tags: Ultra Petroleum Corp.




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