Painted Pony Energy LTD releases results on liquids-rich wells

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FORT ST. JOHN, B.C. – Painted Pony Energy LTD. announced the results of two Lower Montney wells drilled on the northern edge of the South Townsend block today.

Preliminary results indicated that production levels were higher than Painted Pony management’s Townsend type curve and included higher liquid yields compared to previous wells in the Townsend block.

Painted Pony wrote that they were encouraged by the results and are anticipating a re-direction in portions of drilling activity within the existing 2018 development budget to better capitalize on the well’s results.

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South Townsend Well Results:

Painted Pony drilled two Lower Montney horizontal test wells from a single pad to vertical depths of approximately 2,000 meters and lateral lengths of approximately 1,900 meters. The wells were completed using an open-hole ball drop system and a modified completion program. Static gradient pressure tests indicated that both wells were approximately 1.8 times over-pressured. Both wells are currently pipeline connected to the AltaGas Townsend Facility.

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