Current PONY:CA Stock Info

Painted Pony Energy Ltd. (ticker: PONY) is active in the Montney formation, where it pursues natural gas and natural gas liquids production in its 200,009 net acres in Northeast British Columbia.

Painted Pony’s 200,000 B.C. Montney Acres Expected to Help Double 2016 Average Production Rate in 2017

Source: Painted Pony Energy Ltd.

In the first quarter of 2017, Painted Pony averaged 215 Mmcfe per day of natural gas production—equivalent to 35,878 BOEPD. The company estimates its proved plus probable (2P) reserves at approximately 6.4 Tcf of natural gas and 81.3 MMBO of oil.

By the end of 2017, the company expects that it will be producing between 73 and 75 MBOEPD. The 2017 average is expected to be 48.4 MBOEPD, up from an average of 23.2 MBOEPD in 2016.

Processing infrastructure in place now, expansion slated for completion Oct. 2017

Painted Pony also has the necessary processing capacity for its production growth. The company anticipates that it will have approximately 577 Mmcf per day of gas processing capacity open to it by October, 2017. It also owns 153 Mmcf per day of processing capacity, with the remaining 424 Mmcf per day of capacity sourced from 3rd party facilities.

The AltaGas Townsend facility is responsible for coming growth in processing capacity, with two major phases of expansion—the first in August, 2017 with 48 Mmcf per day added to the current 150 Mmcf per day. The Townsend facility’s second expansion is expected to be finished in October, 2017, with a 99 Mmcf per day expansion.

Acquisitions to spur growth

Painted Pony closed its acquisition of approximately 68,800 net acres in the Montney area from Unconventional Resources Canada, LP in May, 2017. The acquisition raised the company’s acreage to 200,901 net acres. The acquisition was made for 41 million shares of Painted Pony and the assumption of Unconventional Resources’ $48 million debt.

The acquisition added 197 net proved and probable undeveloped drilling locations.

Painted Pony Energy Ltd. is presenting at EnerCom’s The Oil & Gas Conference® 22

Painted Pony will be a presenting company at the upcoming EnerCom conference in Denver, Colorado—The Oil & Gas Conference® 22.

The conference is EnerCom’s 22nd Denver-based oil and gas focused investor conference, bringing together publicly traded E&Ps and oilfield service and technology companies with institutional investors.  The conference will be at the Denver Downtown Westin Hotel, August 13-17, 2017. To register for The Oil & Gas Conference® 22 please visit the conference website.

Painted Pony Energy Ltd. (ticker: PONY) is active in the Montney formation, where it pursues natural gas and natural gas liquids production in its 200,009 net acres in Northeast British Columbia.


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