March 15, 2017 / 9:04 PM / 4 months ago

BRIEF-Ultra petroleum board approves 2017 drilling, completion capital budget of $500 mln

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March 16 (Reuters) - Ultra Petroleum Corp

* Ultra Petroleum Corp - board of directors approved planned 2017 drilling and completion capital budget of $500.0 million

* Ultra Petroleum - expects to participate in approximately 245 total gross (193 net) wyoming wells in 2017, compared to 110 total gross (78 net) wells in 2016

* Ultra Petroleum- annual production for 2017 expected to grow to 290 to 300 billion cubic feet equivalent, compared to production of 281.7 bcfe for 2016

* Ultra Petroleum - with investment of $500.0 million in 2017, targeting production of 795 to 820 million mmcfe per day

* Ultra Petroleum - On March 14, , bankruptcy court issued order confirming plan of reorganization, order determining that ultra's plan value is $6.0 billion

* Ultra Petroleum Corp - sees 2017 ebitda range between $650.0 million and $700.0 million Source text for Eikon: Further company coverage:

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