Ultra Petroleum (UPL) issued an operational update for the third quarter of 2010 on its operations in the Marcellus Shale in Pennsylvania. The company has 470,000 gross acres in the play.
Ultra Petroleum drilled 20 gross or 12 net wells in the Marcellus Shale during the third quarter of 2010. The company said that the average lateral length was 5100 feet. Ultra Petroleum brought 23 gross or 16 net wells onto production during the third quarter of 2010.