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UPL Ultra Petroleum

Ultra Petroleum Corp. engages in the development, production, operation, exploration, and acquisition of oil and natural gas properties. It focuses on developing a tight gas sand trend located in the Green River Basin of southwest Wyoming; and assessing, exploring, and developing its position in the Marcellus Shale and other horizons located in the north-central Pennsylvania area of the Appalachian Basin of Pennsylvania. The company was founded on November 14, 1979 and is headquartered in Englewood, CO.

Company profile

Ticker
UPL, UPLCQ
Exchange
CEO
C. Bradley Johnson
Employees
Incorporated
Location
Fiscal year end
SEC CIK

UPL stock data

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Calendar

7 Aug 20
11 Apr 21
31 Dec 21
Quarter (USD)
Jun 20 Mar 20 Sep 19 Jun 19
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 19 Dec 18 Dec 17 Dec 16
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 34.5M 34.5M 34.5M 34.5M 34.5M 34.5M
Cash burn (monthly) (positive/no burn) (positive/no burn) 45.02M 27.71M 3.46M (positive/no burn)
Cash used (since last report) n/a n/a 424.21M 261.15M 32.62M n/a
Cash remaining n/a n/a -389.7M -226.64M 1.88M n/a
Runway (months of cash) n/a n/a -8.7 -8.2 0.5 n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
11 Sep 20 Kerr Kason Common Stock Sell Dispose S No No 0.0062 100,000 620 20,334
11 Sep 20 Edward Andrew Jr. Scoggins Common Stock Sell Dispose S No No 0.0053 201,439 1.07K 0
8 Sep 20 Solomon Mark T Common Stock Sell Dispose S No No 0.0062 16,778 104.02 0
8 Sep 20 Neal P Goldman Common Stock Sell Dispose S No No 0.006 201,439 1.21K 0
8 Sep 20 Sylvia K. Barnes Common Stock Sell Dispose S No No 0.0055 201,439 1.11K 0

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

13F holders
Current Prev Q Change
Total holders 0 0
Opened positions 0 0
Closed positions 0 4 EXIT
Increased positions 0 0
Reduced positions 0 0
13F shares
Current Prev Q Change
Total value 0 0
Total shares 0 0
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners
Shares Value Change
Largest transactions
Shares Bought/sold Change
IFP Advisors 0 0

Financial report summary

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Risks
  • We have significant indebtedness. Our level of indebtedness could adversely affect our business, results of operations, and financial condition. If we are unable to comply with the financial and non-financial covenants governing our indebtedness or obtain waivers of any defaults that occur with respect to our indebtedness, or amend, replace or refinance any or all of the agreements governing our indebtedness and/or otherwise secure additional capital, we may be unable to meet our expenses and debt obligations.
  • There are covenants in certain agreements governing our indebtedness. In many instances, a default under one of the agreements governing our indebtedness can, if not cured or waived, result in a default under certain of our other indebtedness agreements. A default on our obligations and/or an acceleration of our indebtedness by our lenders or noteholders, as applicable, would have a material adverse impact on our business, financial condition, results of operations, cash flows, and the trading price of our securities.
  • The borrowing base under our Revolving Credit Facility may be reduced, which could limit us in the future and negatively impact our ability to meet our financial obligations.
  • If we cannot obtain sufficient capital when needed, we will not be able to continue with our business strategy.
  • Our substantial indebtedness, liquidity concerns, the credit ratings assigned to our debt by independent credit rating agencies and historical emergence from bankruptcy in 2017 could adversely affect our business and relationships.
  • Transfers or issuances of our equity may impair our ability to utilize our U.S. federal net operating losses.
  • Our operations and liquidity could be adversely affected if we fail to maintain required bonds or if surety companies require us to secure such bonds with cash collateral or letters of credit.
  • We cannot control the future price of oil and natural gas and sustained periods of low prices could hurt our profitability and financial condition and could impair our ability to grow our business or to perform the obligations in our agreements, including the agreements governing our indebtedness.
  • A substantial or extended decline in oil and natural gas prices may continue indefinitely, and may adversely affect our business, financial condition or results of operations and our ability to meet our capital expenditure obligations, our debt repayment and service obligations, and our financial commitments.
  • Our reserve estimates may turn out to be incorrect if the assumptions upon which these estimates are based are inaccurate. Any material inaccuracies in these reserve estimates or underlying assumptions will materially affect the quantities and present value of our reserves.
  • Our producing properties are located in the Green River Basin in southwest Wyoming, making us vulnerable to risks associated with operating in a single geographic area.
  • Competitive industry conditions may negatively affect our ability to conduct operations.
  • Factors beyond our control affect our ability to effectively market production and may ultimately affect our financial results.
  • Our business relies on certain key personnel.
  • Any derivative transactions we enter into may limit our gains and expose us to other risks such as taxes and royalties.
  • Compliance with environmental and occupational safety and health laws and other government regulations could be costly and could negatively impact our production.
  • Climate change legislation or regulations restricting emissions of GHGs could result in increased operating costs and reduced demand for the oil and gas we produce.
  • Potential physical effects of climate change could adversely affect our operations and cause us to incur significant costs in preparing for or responding to those effects.
  • Changes in tax laws and regulations, including interpretations thereof, or in our operations may impact our effective tax rate and may adversely affect our business, financial condition and operating results.
  • Cyber-attacks targeting systems and infrastructure used by the oil and gas industry may adversely impact our operations.
  • Our business and the trading prices of our securities could be negatively impacted by the actions of so-called “activist” stockholders.
  • Concerns over general economic, business or industry conditions may have a material adverse effect on our results of operations, financial condition and cash available for distribution.
  • If a sustained financial or economic downturn occurs domestically or internationally, capital market conditions and commodity prices may deteriorate, which could materially and adversely affect our liquidity, results of operations and ability to execute our business.
  • Outbreaks of communicable diseases could adversely affect our business, financial condition and results of operations.
  • The ability or willingness of OPEC and other oil exporting nations to set and maintain production levels has a significant impact on oil and natural gas commodity prices.
  • Unless we are able to replace reserves that we have produced, our cash flows and production will decrease over time.
  • We may not be able to replace our reserves or generate cash flows if we are unable to raise capital. We will be required to make substantial capital expenditures to develop our existing reserves and to discover new oil and gas reserves.
  • Our operations may be interrupted by severe weather or drilling restrictions.
  • There are risks associated with our drilling activity that could impact our results of operations.
  • Our decision to drill a prospect is subject to a number of factors which may alter our drilling schedule or our plans to drill at all.
  • We have limited control over activities conducted on properties we do not operate.
  • Our business depends on gathering and transportation facilities owned by others. Any limitation in the availability of those facilities would interfere with our ability to market the oil and natural gas that we produce.
  • We may fail to fully identify problems with any properties we acquire.
  • Our acquisitions may perform worse than we expected or prove to be worth less than what we paid because of uncertain factors and matters beyond our control. In addition, our acquisitions could expose us to potentially significant liabilities.
  • Conservation measures and improvements in or new discoveries of alternative technologies could have a material adverse effect on our financial condition and results of operations.
  • Any future implementation of price controls on oil and natural gas would affect our operations.
  • A negative shift in investor sentiment of the oil and gas industry could adversely affect our ability to raise debt and equity capital.
  • Negative public perception regarding us and/or our industry could have an adverse effect on our operations.
  • A low ESG or sustainability score could result in the exclusion of our common shares from consideration by certain investment funds and a negative perception of us by certain investors.
  • We are a smaller reporting company, and we cannot be certain if the reduced disclosure requirements applicable to smaller reporting companies will make our common stock less attractive to investors.
  • Forward-Looking Statements
Content analysis
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H.S. sophomore Avg
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