Painted Pony Announces Closing of $111 Million Equity Financing Including Full Exercise of the Over-Allotment Option

Painted Pony Petroleum Ltd. (“Painted Pony” or the “Corporation“) (TSX:PPY) is pleased to announce that it has closed its previously announced bought deal financing (the “Offering“). Pursuant to the Offering, the Corporation has issued a total of 19,820,000 common shares in the capital of the Company (“Common Shares“), which included the full exercise of the over-allotment option granted to the underwriters of the Offering. All of the Common Shares were issued at a price of […]

Painted Pony announces lower spending in the next two years, along with increased production

Painted Pony Petroleum has announced its updated 2017 capital budget and 2018 development plan details. Painted Pony has says that it will reduce capital spending during the next two years to ensure that it maintains its financial flexibility. In 2017, the company has reduced capital spending from its previously announced capital budget of $319 million to $288 million. The company forecasts average daily production of approximately 260 million cubic feet equivalent per day, an 85% […]

BC Forest Policy Killing Jobs in Small Communities, Say Critics

(Andrew MacLeod Today |  The B.C. government’s management of publicly owned forests has made small communities “collateral damage” and threatened their economic sustainability, according to a municipality in the province’s northeast. “The Northern Rockies Regional Municipality… is experiencing firsthand the downside of B.C.’s forest tenure system,” said the municipality in a Nov. 15 release. Click here to read full article  

Gas drilling drops to 23-year low in B.C.’s resource-rich northeast

Natural gas drilling in northeastern British Columbia has fallen to a 23-year low as gas producers continue to navigate a complicated market still dogged by a supply glut in the United States and lack of outlets outside of North America for the fuel. At the end of October, producers had punched just 267 new wells in the region, according to figures from the B.C. Oil & Gas Commission, down 40 per cent from the 450 […]

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