4.4 C
Fort St. John
Tuesday, November 20, 2018
Tel: 250-787-7100
Email: contact@energeticcity.ca
9924 101 ave Fort St. John, B.C.
Advertisement
Advertisement
Advertisement

Painted Pony announces lower spending in the next two years, along with increased production

CALGARY, A.B. — Painted Pony Petroleum has announced its updated 2017 capital budget and 2018 development plan details.

Painted Ponyhas says that it will reduce capital spending during the next two years to ensure that it maintains its financial flexibility.

In 2017, the company has reduced capital spending from its previously announced capital budget of $319 million to $288 million. The company forecasts average daily production of approximately 260 million cubic feet equivalent per day, an 85% production per share increase over last year’s production of 139.2 Mcfe/d. This year, Painted Pony anticipates drilling 58 net wells, and completing 51.

The company has also announced that capital spending in 2018 will total only $216 million, down 44 percent from previous 2018 capital spending forecasts of $385 million. Despite this, forecast production volumes are expected to be 360 MMcfe/d, a 40% production per share increase over expected production this year. Painted Pony also expects to drill 37 net wells and complete 42.

Advertisement
Advertisement
Advertisement
Advertisement

Warning: array_merge(): Argument #2 is not an array in /home/energet6/public_html/wp-includes/widgets/class-wp-widget-custom-html.php on line 127

Warning: array_merge(): Argument #1 is not an array in /home/energet6/public_html/wp-includes/widgets/class-wp-widget-custom-html.php on line 134

Local Events

Doc Walker to play the Lido Theatre

HYPNOTIST: RAY ANDERSON

Jokes N Tokes Comedy Tour

Advertisement
Advertisement
Advertisement

Must Read

Trans Mountain Hearing

CALGARY, A.B. - A rooftop smudging ceremony where herbs were burned and prayers said served as a proxy for swearing in as the oral traditional...

City hosts Festival Design workshop