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Painted Pony Expects End of Year Production to be 93% Higher than 2016
Painted Pony Petroleum released its Q3 results where it discussed highlights from the quarter. Painted Pony did not provide information relating to its 2018 budget or production guidance. Highlights include:
- Reported Q3 production of an average 42,353 boe/d
- Drilled 16 (16 net) wells and completed 16 (16 net) wells in the Montney in Q3
- Capital expenditures in Q3 were $85.6 million
During Q3, Painted Pony produced an average of 42,353 boe/d. As a result, the company reaffirmed its 2017 guidance, which it expects to fall in the range of 43,500 boe/d to 46,000 boe/d. At the midpoint, this will be an increase of ~92.9% from production at the exit of 2016 which was 23,204 boe/d.
Total spending in Q3 was $85.6 million. The company expects to spend $74 million in Q4 and finish 2017 with capital expenditures of $314 million.
Painted Pony drilled 16 (16 net) wells and completed 16 (16 net) wells in the Montney during Q3.
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