Scandoil  

Painted Pony Petroleum provides production and Montney operations update


Published Nov 5, 2013
Painted Pony Petroleum

Painted Pony Petroleum Ltd. is pleased to provide an operations and activity update.

HIGHLIGHTS

◾ A 41% production growth in the third quarter of 2013 over the same period in 2012. ◾ The Company had strong peak and final test rates of over 10 million cubic feet per day ("MMcf/d") of natural gas on two (1.0 net) 50% working interest Montney wells at Daiber. ◾ Experienced reduced capital costs and significant production gains from the use of ball-drop completion technology on new Montney horizontal wells.

PRODUCTION AND MONTNEY OPERATIONS HIGHLIGHTS

◾ Painted Pony's average third quarter 2013 field-estimated sales volumes were approximately 8,900 barrels of oil equivalent per day ("boed"), weighted approximately 83% toward natural gas. This estimate represents an increase of 41% over average volumes in the third quarter of 2012 and an increase of 12% from average second quarter 2013 volumes.

Tags: Painted Pony Petroleum Ltd.




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