Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

v2.4.0.8
Leases (Tables)
 6 Months Ended
Jun. 30, 2013
Leases [Abstract]  
Lesee's impact on total leased properties
As of June 30, 2013 the Company had two significant leases. The table below displays the impact of each lease on total leased properties and total lease revenues for the periods presented. As of May31, 2012, the Company's only lease was with the Public Service Company of New Mexico, which therefore comprised 100 percent of the Company's leased properties and lease revenues.

 
As a Percentage of
 
 
Leased Properties
 
Lease Revenues

 
As of June 30, 2013
 
For the Three Months ended June 30, 2013
 
For the Six Months Ended June 30, 2013
Pinedale LGS
 
94.20%
 
88.68%
 
88.68%
Public Service of New Mexico
 
5.80%
 
11.32%
 
11.32%
Future contracted minimum rental receipts for all net leases
Summary Consolidated Balance Sheets and Consolidated Statements of Operations for Ultra Petroleum are provided below.
Ultra Petroleum Corp.
Summary Consolidated Balance Sheets (Unaudited)
(in thousands)
 
June 30, 2013
 
December 31, 2012
Current assets
$
120,814

 
$
125,848

Non-current assets
1,942,064

 
1,881,497

Total Assets
$
2,062,878

 
$
2,007,345

 
 
 
 
 
 
 
 
Current liabilities
387,404

 
514,092

Non-current liabilities
2,116,587

 
2,071,120

Total Liabilities
$
2,503,991

 
$
2,585,212

 
 
 
 
Shareholder's (deficit)
(441,113
)
 
(577,867
)
Total Liabilities and Shareholder's Equity
$
2,062,878

 
$
2,007,345

 
 
 
 
Ultra Petroleum Corp.
Summary Consolidated Statements of Operations (Unaudited)
(in thousands)
For the Three Months ended June 30,
 
For the Six Months Ended June 30,
 
2013
 
2012
 
2013
 
2012
Revenues
$
261,376

 
$
170,270

 
$
487,003

 
$
396,413

Expenses
143,002

 
2,055,200

 
282,996

 
2,248,740

Operating Income (Loss)
118,374

 
(1,884,930
)
 
204,007

 
(1,852,327
)
Other Income (Expense), net
(506
)
 
(56,694
)
 
(68,337
)
 
40,452

Income (Loss) before income tax provision (benefit)
117,868

 
(1,941,624
)
 
135,670

 
(1,811,875
)
Income tax provision (benefit)
1,491

 
(754,642
)
 
2,859

 
(709,152
)
Net Income (Loss)
$
116,377

 
$
(1,186,982
)
 
$
132,811

 
$
(1,102,723
)
Fair value of the future minimum lease payments and estimated costs
The future contracted minimum rental receipts for all net leases as of June 30, 2013 are as follows:
Future Minimum Lease Receipts
Years Ending December 31,
 
Amount
2013
 
$
10,000,000

2014
 
24,267,371

2015
 
20,000,000

2016
 
20,000,000

2017
 
20,000,000

Thereafter
 
199,354,839

Total
 
$
293,622,210