Supplemental Financial Statement Information

12 Months Ended

Dec. 31, 2015

Supplemental Financial Statement Information [Abstract]

SUPPLEMENTAL FINANCIAL STATEMENT INFORMATION

16. SUPPLEMENTAL FINANCIAL STATEMENT INFORMATION:

Following are the financial statements of Ultra Petroleum Corp. (the “Parent Company”), which are included to provide additional information with respect to the Parent Company’s results of operations, financial position and cash flows on a stand-alone basis:

CONDENSED STATEMENT OF OPERATIONS

		Year Ended December 31,
		2015		2014		2013
General and administrative expense	$	308	$	261	$	102
Other income (expense):
Interest expense		(81,069)		(42,996)		(1,438)
Income from unconsolidated affiliates		(3,152,078)		558,634		223,685
Guarantee fee income		23,029		23,045		22,406
Other expense		(1,684)		(1,324)		(1,836)
Income before income taxes		(3,212,110)		537,098		242,715
Income tax (benefit) expense		(4,890)		(5,753)		4,877
Net income	$	(3,207,220)	$	542,851	$	237,838

CONDENSED BALANCE SHEET

			December 31,		December 31,
			2015		2014
	ASSETS
Current Assets:
	Cash and cash equivalents	$	523	$	772
	Accounts receivable from related companies		64,542		33,146
	Other current assets		21,918		6,246
	Total current assets		86,983		40,164
Investment in unconsolidated affiliates			-		1,461,226
Other non-current assets			24,197		27,339
Total assets		$	111,180	$	1,528,729
	LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
	Current portion of long-term debt	$	1,300,000	$	-
	Interest payable		14,166		16,046
	Accrued and other current liabilities		-		31
	Total current liabilities		1,314,166		16,077
Long-term debt			-		1,300,000
Advances to unconsolidated affiliates			1,788,951		-
Other long-term obligations			-		992
Total shareholders' equity			(2,991,937)		211,660
Total liabilities and shareholders' equity		$	111,180	$	1,528,729

CONDENSED STATEMENT OF CASH FLOWS

			Year Ended December 31,
			2015		2014		2013
Net cash (used in) provided by operating activities		$	(101,277)	$	(35,818)	$	17,772
Investing Activities:
	Investment in subsidiaries		-		(850,000)		(464,405)
	Dividends received		96,297		52,741		4,580
Net cash provided by (used in) investing activities			96,297		(797,259)		(459,825)
Financing activities:
	Proceeds from issuance of Senior Notes		-		850,000		450,000
	Deferred financing costs		6		(13,245)		(8,958)
	Repurchased shares		-		(6,471)		(3,311)
	Shares re-issued from treasury		4,725		2,936		1,496
Net cash provided by financing activities			4,731		833,220		439,227
(Decrease) increase in cash during the period			(249)		143		(2,826)
Cash and cash equivalents, beginning of period			772		629		3,455
Cash and cash equivalents, end of period		$	523	$	772	$	629