Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/news/painted-pony-reduces-2016-capital-spending-program.shtmlPainted Pony reduces 2016 capital spending program
Painted Pony Petroleum Ltd. says that due to further realized capital efficiencies, the 2016 capital spending program has been reduced by 8% to $197 million from a
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Painted Pony Petroleum Ltd. says that due to further realized capital efficiencies, the 2016 capital spending program has been reduced by 8% to $197 million from a previous estimate of $215 million.
Forecast 2016 production volumes remain unchanged and are expected to average approximately 138 MMcfe/d (23,000 boe/d) with daily production volumes expected to exceed 240 MMcfe/d (40,000 boe/d) by year end 2016. Painted Pony also anticipates a reduction in estimated 2017 capital spending of 15% or $52 million to $298 million from a previous estimate of $350 million.
