Ultra Petroleum Corp. announced unaudited consolidated earnings and production results for the third quarter and nine months ended on September 30, 2017. For the nine months, the company reported natural gas volume was 189,900,648 Mcf compared to 200,286,232 Mcf last year. Oil and condensate volume was 2,043,191 Mcf compared to 2,205,145 Mcf last year.

For the quarter, the company reported natural gas volume was 66,844,448 Mcf compared to 65,244,794 Mcf last year. Oil and condensate volume was 705,057 Mcf compared to 680,064 Mcf last year.

For the nine months, the company reported total operating revenue was $651,247,000 compared to $505,230,000 last year. Income before income taxes was $74,727,000 compared to $90,272,000 last year. Net income was $81,611,000 compared to $90,577,000 last year. Adjusted net income was $249,619,000 compared to $125,969,000 last year. Operating cash flow was $386,942,000 compared to $201,569,000 last year. Adjusted EBITDA was $444,520,000 compared to $281,554,000 last year. Net income per share diluted was $0.53 compared to $1.13 last year. Adjusted earnings per diluted share were $1.63 compared to $1.57 last year.

For the quarter, the company reported total operating revenue was $217,631,000 compared to $199,253,000 last year. Loss before income taxes was $334,613,000 compared to income of $98,452,000 last year. Net loss was $327,727,000 compared to income of $98,407,000 last year. Adjusted net income was $78,830,000 compared to $102,355,000 last year. Operating cash flow was $125,199,000 compared to $129,035,000 last year. Adjusted EBITDA was $153,241,000 compared to $132,218,000 last year. Net loss per share diluted was $1.67 compared to net income per share, diluted of $1.22 last year. Adjusted earnings per diluted share were $0.40 compared to $1.27 last year.

The company is reaffirmed its 2017 total capital budget at $540 million, which includes $15 million related to acquisitions during the second quarter 2017. The company expects production for the full year 2017 to be slightly below guidance and come in between 276 Bcfe to 278 Bcfe.

The company expects that fourth quarter 2017 production will be approximately 75 Bcfe, which has been impacted by unplanned downtime caused by a third party provider and ownership transition in the company's non-operated Pinedale properties.