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.

Tags: Painted Pony Petroleum Ltd.