Ultra Petroleum Corp. reported production results for the third quarter and nine months ended September 30, 2019. For the quarter, the company reported natural gas production of 57,645 Mcf compared to 63,790 Mcf a year ago. Oil and condensate production of 419 Bbls compared to 624 Bbls a year ago. Total production volume was 60,159 Mcfe compare to 67,534 Mcfe a year ago.

For the nine months, the company reported natural gas production of 177,023 Mcf compared to 198,917 Mcf a year ago. Oil and condensate production of 1,305 Bbls compared to 1,969 Bbls a year ago. Total production volume was 184,853 Mcfe compare to 210,731 Mcfe a year ago.

The company has narrowed its 2019 annual production guidance range to 239 Bcfe to 241 Bcfe.

In the fourth quarter of 2019, the average daily production rate is expected to range between 590 MMcfe/d and 610 MMcfe/d. Base production performance continues to be strong and the Company expects this out-performance to offset the incremental production for the fourth quarter that would have occurred from new wells drilled.

For the full year 2020, the company's production next year is expected to be from proved-developed producing wells currently online. With drilling activity suspended and all new wells online, the company has narrowed the range of its preliminary outlook and is estimating production in 2020 of 182 Bcfe to 192 Bcfe.