Ultra Petroleum captures Uinta Basin assets for US$650 million
Ultra Petroleum has announced the purchase of producing assets in the Three Rivers field (Uinta Basin, Utah) for US$650 million. The undisclosed seller is believed to be private operator Axia Energy. The acreage is situated between several of the basin's most prolific fields including Altamont-Bluebell, Monument Butte, and Natural Buttes. The assets hold 10 mmboe of proved reserves with current production of 4,000 boe/d from 38 producing wells. The deal represents a pivotal move for the ...