On Friday, Shares of Ultra Petroleum Corp. (NYSE:UPL), gained 10.06% to $5.47.
Ultra Petroleum Corp., continued to deliver strong financial and operating performance for the third quarter of 2015. Highlights comprise:
- Raised 2015 production guidance to 288 – 292 Bcfe,
- Produced a record 75.4 Bcfe of natural gas and oil during the third quarter of 2015, an improvement of 7% from the second quarter of 2015 and 21% contrast with the third quarter of 2014,
- Reduced Pinedale well costs to $2.85 million for the third quarter of 2015, a decrease of 25% contrast to average 2014 well costs,
- Capital expenditures of $123.4 million during the third quarter,
- Generated operating cash flow of $125.4 million for the quarter ended September 30, 2015 ,
- Earnings of $32.6 million in the third quarter of 2015, or $0.21 per diluted share – adjusted
Third Quarter Results
For the third quarter of 2015, production of natural gas and oil raised 21 percent to 75.4 billion cubic feet equivalent (Bcfe). This is the largest quarterly production level ever achieved by Ultra Petroleum. The company’s production for the third quarter was comprised of 70.2 billion cubic feet (Bcf) of natural gas and 863.4 thousand barrels (Mbls) of oil and condensate.
Ultra Petroleum stated adjusted net income of $32.6 million , or $0.21 per diluted share for the quarter ended September 30, 2015 . Operating cash flow was $125.4 million for the quarter ended September 30, 2015.
Ultra Petroleum Corp., an independent oil and gas company, engages in the acquisition, exploration, development, production, and operation of oil and natural gas properties in the United States. It primarily focuses on developing natural gas reserves in the Green River Basin of Wyoming; oil reserves in the Uinta Basin of Utah; and natural gas reserves in the Appalachian Basin of Pennsylvania.
Shares of Calpine Corporation (NYSE:CPN), inclined 3.78% to $15.51, during its last trading session.
Calpine Corporation, stated third quarter 2015 Adjusted EBITDA of $791 million, contrast to $745 million in the preceding year period, and Adjusted Free Cash Flow of $576 million, or $1.61 per diluted share, contrast to $506 million, or $1.26 per diluted share, in the preceding year period. Net Income1 for the third quarter of 2015 was $273 million, or $0.76 per diluted share, contrast to $614 million, or $1.52 per diluted share, in the preceding year period. Net Income, As Adjusted2, for the third quarter of 2015 was $347 million contrast to $306 million in the preceding year period. The improvements in Adjusted EBITDA, Adjusted Free Cash Flow and Net Income, As Adjusted2, were primarily due to higher Commodity Margin driven by the acquisition of our Fore River Energy Center in November 2014 and the commencement of operations at our Garrison Energy Center in June 2015, in addition to higher regulatory capacity revenue in PJM.
Year-to-date 2015 Adjusted EBITDA was $1,586 million, contrast to $1,604 million in the preceding year period, and Adjusted Free Cash Flow was $745 million, or $2.02 per diluted share, contrast to $735 million, or $1.77 per diluted share, in the preceding year period. Net Income1 for the first nine months of 2015 was $282 million, or $0.77 per diluted share, contrast to $736 million, or $1.77 per diluted share, in the preceding year period. Net Income, As Adjusted2, for the first nine months of 2015 was $318 million contrast to $359 million in the preceding year period. The decreases in Adjusted EBITDA and Net Income, As Adjusted2, were primarily due to lower Commodity Margin driven largely by a noteworthy decrease in power and natural gas prices in our East region in the first quarter of 2015, given the unusually high price levels practiced during the polar vortex events in the preceding year period, in addition to net portfolio changes and lower regulatory capacity revenue in PJM. The improvement in Adjusted Free Cash Flow was due to lower interest expense contrast to the preceding year period, which more than offset the decline in Adjusted EBITDA.
Calpine Corporation, a wholesale power generation company, owns and operates natural gas-fired and geothermal power plants in North America. It operates natural gas-fired combustion turbines and renewable geothermal conventional steam turbines.
Finally, Shares of UnitedHealth Group Inc (NYSE:UNH), ended its last trade with -1.61% loss, and closed at $117.78.
United Healthcare is advancing new approaches to cancer treatment with two ground breaking programs that assist put patients’ needs at the center of care.
United Healthcare is expanding its pioneering cancer care payment model, first launched in 2010, that rewards physicians for focusing on quality patient care, best treatment practices and health outcomes. A study published in the Journal of Oncology Practice demonstrated this program reduced overall cancer expenses by more than a third while improving quality outcomes. Five additional oncology practices – counting 550 oncologists – are now joining the program, bringing the total number of oncologists to about 650 in seven states.
Additionally, United Healthcare is launching a first-of-its-kind chemotherapy approval program that will provide real-time decision support and approvals for therapies based on National Comprehensive Cancer Network (NCCN) treatment recommendations from the NCCN Clinical Practice Guidelines in Oncology (NCCN Guidelines). NCCN is the leading independent source for clinical recommendations that guide chemotherapy treatments. United Healthcare provides online displays of all recommended treatments for a patient’s specific condition during the approval process, accelerating access to life-saving treatments for people with cancer and assisting speed coverage approvals.
UnitedHealth Group Incorporated operates as a diversified health and well-being company in the United States. The company’s United Healthcare segment offers consumer-oriented health benefit plans and services for national employers, public sector employers, mid-sized employers, small businesses, and individuals; and health care coverage, and health and well-being services to individuals aged 50 and older addressing their needs for preventive and acute health care services.