May 10, 2018 / 12:02 PM / 13 days ago

BRIEF-Ultra Petroleum Announces Q1 Adjusted Earnings Per Share $0.28

May 10 (Reuters) - Ultra Petroleum Corp:

* ULTRA PETROLEUM ANNOUNCES FIRST QUARTER 2018 RESULTS, PROVIDES UPDATE ON HORIZONTAL PROGRAM & DEVELOPMENT PLAN

* Q1 EARNINGS PER SHARE $0.24

* Q1 REVENUE $225.4 MILLION VERSUS I/B/E/S VIEW $228.1 MILLION

* Q1 EARNINGS PER SHARE VIEW $0.27 — THOMSON REUTERS I/B/E/S

* Q1 PRODUCTION OF 72.3 BCFE INCREASED 13% COMPARED TO Q1 2017

* REDUCED OPERATED RIG FLEET FROM 7 RIGS TO 4 IN QUARTER

* DURING Q1 OF 2018, AVERAGE REALIZED NATURAL GAS PRICE $2.68 PER THOUSAND CUBIC FEET

* ULTRA PETROLEUM - INCREASING 2018 ANNUAL PRODUCTION GUIDANCE TO 285 BCFE -295 BCFE

* IN Q2, AVERAGE DAILY PRODUCTION RATE IS EXPECTED TO RANGE BETWEEN 780-800 MMCFE/D

* LATER THIS YEAR, PLANS TO RELOCATE HEADQUARTERS FROM HOUSTON, TEXAS TO ENGLEWOOD, COLORADO

* ULTRA PETROLEUM - PLANS TO DEVOTE “SIGNIFICANT” AMOUNT OF REMAINING CAPITAL SPENDING FOR 2018 TO DRILLING HORIZONTAL WELLS

* ULTRA PETROLEUM - GARLAND SHAW, CFO, AND GARRETT SMITH, GENERAL COUNSEL, WILL NOT BE RELOCATING TO COLORADO

* CO EMBARKS ON A SEARCH FOR A NEW CFO AND A NEW GENERAL COUNSEL Source text for Eikon: Further company coverage: (Reuters.Briefs@thomsonreuters.com)

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