Ultra Petroleum Corp. announced unaudited consolidated earnings and production results for the fourth quarter and full year ended December 31, 2017. For the year, the company reported total operating revenues of $891,873,000 compared to $721,091,000 a year ago. Income before income taxes was $163,846,000 compared to $55,497,000 a year ago. Net income was $177,140,000 or $1.08 per basic and diluted share compared to $56,151,000 or $0.7 per basic and diluted share a year ago. Adjusted net income was $333,098,000 or $2.03 per basic and diluted share compared to $245,152,000 or $3.05 per diluted share a year ago. Operating cash flow was $524,467,000 compared to $346,695,000 a year ago. Adjusted EBITDA was $612,023,000 compared to $431,192,000 a year ago. Net cash provided by operating activities was $65,268,000 compared to $311,071,000 a year ago.

For the quarter, the company reported total operating revenues of $240,627,000 compared to $215,860,000 a year ago. Income before income taxes was $89,117,000 compared to loss of $34,774,000 a year ago. Net income was $95,528,000 or $0.49 per basic and diluted share compared to loss of $34,425,000 or $0.43 per basic and diluted share a year ago. Adjusted net income was $83,938,000 or $0.43 per basic and diluted share compared to $119,184,000 or $1.49 per basic and diluted share a year ago. Operating cash flow was $137,524,000 compared to $145,126,000 a year ago. Adjusted EBITDA was $167,502,000 compared to $149,639,000 a year ago. Net cash used in operating activities was $83,516,000 compared to net cash provided by operating activities of $136,926,000 a year ago.

For the year, the company reported natural gas volume was 260,008,429 Mcf compared to 264,278,138 Mcf a year ago. Oil and condensate volume was 2,775,762 Mcf compared to 2,911,617 Mcf a year ago.

For the quarter, the company reported natural gas volume was 70,107,780 Mcf compared to 63,991,905 Mcf a year ago. Oil and condensate volume was 732,571 Mcf compared to 706,472 Mcf a year ago.

The company provided production guidance for the first quarter and full year of 2018. The company's 2018 annual production is expected to range between 280-290 Bcfe.

In the first quarter, the average daily production rate is expected to range between 790-810 MMcfe/d.