Painted Pony closes deal to sell acreage in Northeast BC Montney

Must Read

Conservatives call for an emergency debate on forestry jobs crisis

OTTAWA, O.N. - Conservatives are requesting an emergency debate in Parliament on the jobs crisis affecting forestry workers in...

Dawson Creek man convicted and fined in relation to 2017 hunting violation

DAWSON CREEK, B.C. - A Dawson Creek man appeared in Dawson Creek Provincial Court on Wednesday, December...

Saudi stock offering creates world’s most valuable company

RIYADH, Saudi Arabia — Saudi Arabian oil company Aramco surpassed Apple as the world's most valuable public company Wednesday...

FORT ST. JOHN, B.C. – Painted Pony Energy Ltd. has announced that it has closed a deal to sell 75 percent of its working interest in 11,280 gross acres in the Northeast B.C. Montney for cash consideration of $45 million.

According to Painted Pony, this transaction totals approximately four percent of the company’s total Montney acreage.

According to Painted Pony’s president and CEO, Patrick Ward, the sale would give the company financial leverage, and would not impact current production volumes.

- Advertisement -

Painted Pony’s bank debt is estimated to be $120 million on a $375 million syndicated credit facility.

The buyer involved in the deal has not been disclosed.

More Articles Like This