BRIEF-Painted Pony Petroleum says hedged incremental production volumes through 2016 and 2017

Wed Apr 6, 2016 8:17pm EDT
 
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April 6 (Reuters) - Painted Pony Petroleum Ltd :

* Painted Pony announces further capital cost reductions, updated hedges and investor conference participation

* Has hedged incremental production volumes through 2016 and 2017 to reduce impact of commodity price volatility

* 2016 exit production rate anticipated to be in excess of 240 mmcfe/d

* 2016 capital program expected to deliver previously forecasted production volumes targets for total spending of about $179 million

* Painted pony averaged approximately 99 mmcfe/d (16,500 boe/d) during Q1 of 2016

* Anticipates production volumes to average 93 mmcfe/d - 99 mmcfe/d (15,500 boe/d- 16,500 boe/d) during Q2 of 2016

* Construction of Altagas Townsend facility is now approximately 85 pct complete and continues to progress ahead of schedule

* Altagas expects Townsend facility to begin commissioning operations mid-year 2016 Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1-646-223-8780)