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Painted Pony Expects End of Year Production to be 93% Higher than 2016
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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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