Ultra Petroleum Corp. confirmed production guidance for the first quarter and full Year of 2020. The company is confirming its 2020 production guidance of 182 Bcfe to 192 Bcfe.

In the first quarter, the average daily production rate was 554 MMcfe/d.

The company reported production results for the fourth quarter and year ended December 31, 2019. For the quarter, the company's natural gas was 53,098 Mcf against 61,489 Mcf a year ago. Oil and condensate 378 Bbls against 473 Bbls a year ago.

For the year, the company's natural gas was 230,121 Mcf against 260,406 Mcf a year ago. Oil and condensate was 1,683 Bbls against 2,442 Bbls a year ago.