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Painted Pony Petroleum Ltd. has touted 180 MMcfe/d (30,000 boe/d) of production volumes were averaged over the previous five days, based on field estimates. The Corporation's production increase represents both absolute and per share production growth of greater than 80% over second quarter 2016 average daily production volumes of 99.8 MMcfe/d (16,634 boe/d).
Painted Pony's production volumes at the Townsend Facilty averaged in excess of 100 MMcfe/d (16,670 boe/d) based on field estimates over the previous five days.
Painted Pony anticipates increasing production volumes by an incremental 50 MMcfe/d (8,330 boe/d) to the Townsend Facility in early October 2016 . Painted Pony expects total daily production volumes for the third quarter of 2016 to average approximately 138 MMcfe/d (23,000 boe/d) and 2016 exit production volumes to be approximately 240 MMcfe/d (40,000 boe/d).
The recent increase in production volumes is consistent with Painted Pony's strategic 5-year plan and represents a significant milestone.
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