Supplemental Financial Statement Information

12 Months Ended

Dec. 31, 2016

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,
		2016		2015		2014
General and administrative expense	$	650	$	308	$	261
Other income (expense):
Interest expense (excludes contractual interest expense of
$52.4 million for the year ended December 31, 2016)		(26,590)		(81,069)		(42,996)
Income (loss) from unconsolidated affiliates		157,450		(3,152,078)		558,634
Guarantee fee income		6,073		23,029		23,045
Other expense		(64,888)		(1,684)		(1,324)
Reorganization items, net		(15,827)		-		-
Income (loss) before income taxes		55,568		(3,212,110)		537,098
Income tax benefit		(583)		(4,890)		(5,753)
Net income (loss)	$	56,151	$	(3,207,220)	$	542,851

CONDENSED BALANCE SHEET

			December 31,		December 31,
			2016		2015
	ASSETS
Current Assets:
	Cash and cash equivalents	$	3,009	$	523
	Accounts receivable from related companies		29,939		64,542
	Other current assets		2,100		5,150
	Total current assets		35,048		70,215
Other non-current assets			-		24,197
Total assets		$	35,048	$	94,412
	LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
	Current portion of long-term debt	$	-	$	1,283,232
	Interest payable		-		14,166
	Accrued and other current liabilities		47		-
	Total current liabilities		47		1,297,398
Advances from unconsolidated affiliates			1,623,414		1,788,951
Total liabilities not subject to compromise			1,623,461		3,086,349
Liabilities subject to compromise			1,339,739		-
Total shareholders' deficit			(2,928,152)		(2,991,937)
Total liabilities and shareholders' equity		$	35,048	$	94,412

CONDENSED STATEMENT OF CASH FLOWS

			Year Ended December 31,
			2016		2015		2014
Net cash (used in) operating activities		$	(21,309)	$	(101,277)	$	(35,818)
Investing Activities:
	Investment in subsidiaries		-		-		(850,000)
	Dividends received		24,089		96,297		52,741
Net cash provided by (used in) investing activities			24,089		96,297		(797,259)
Financing activities:
	Proceeds from issuance of Senior Notes		-		-		850,000
	Deferred financing costs		-		6		(13,245)
	Repurchased shares/net share settlements		43		-		(6,471)
	Shares re-issued from treasury		(337)		4,725		2,936
Net cash (used in) provided by financing activities			(294)		4,731		833,220
Increase (decrease) in cash during the period			2,486		(249)		143
Cash and cash equivalents, beginning of period			523		772		629
Cash and cash equivalents, end of period		$	3,009	$	523	$	772