In the following video, Motley Fool energy analyst Joel South takes a look at Ultra Petroleum (NASDAQOTH:UPLMQ), and asks why it might be a great buy today. The stock was beaten down after low natural gas prices in 2012 made for a difficult year, but with those prices significantly higher than the sub-$2 mark, the future looks bright for UPL. With many of the other natural gas producers having shifted into oil production, natural gas supply is now starting to retreat, which means the price is set to slowly climb higher. Getting in with UPL at this price point, before those natural gas prices go back up, could represent a big opportunity for investors.

Joel South has no position in any stocks mentioned. The Motley Fool recommends Ultra Petroleum. The Motley Fool owns shares of Devon Energy and Ultra Petroleum and has the following options: Long Jan 2014 $20 Calls on Chesapeake Energy, Long Jan 2014 $30 Calls on Chesapeake Energy, Short Jan 2014 $15 Puts on Chesapeake Energy, Long Jan 2014 $30 Calls on Ultra Petroleum, Long Jan 2014 $40 Calls on Ultra Petroleum, and Long Jan 2014 $50 Calls on Ultra Petroleum. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.