2017 Fourth Quarter and Full Year Financial Highlights
Achieved record annual adjusted funds flow from operations for Painted Pony of $108 million ($0.76 per share) in 2017 compared to $56 million ($0.56 per share) during 2016, an increase of 93% (36% per share);
Increased adjusted funds flow from operations during the fourth quarter of 2017 by 33% to $35 million compared to $27 million during the fourth quarter of 2016; and
Underspent fourth quarter capital by $11 million or 15%, spending $62 million compared to capital spending guidance of $74 million as released on November 8, 2017.
2017 Fourth Quarter and Full-Year Production Highlights
Increased fourth quarter 2017 average daily production volumes by 43% to 315 MMcfe/d (52,544 boe/d), which includes the impact of approximately 48 MMcfe/d (8,000 boe/d) of voluntary pricing-related production shut-ins, compared to 2016 average daily production volumes of 220 Mcfe/d (36,695 boe/d);
Averaged annual daily production volumes of 257 MMcfe/d (42,882 boe/d) during 2017, an 85% increase over 2016 annual average daily production of 139 MMcfe/d (23,204 boe/d); and
NGL annual average daily production volumes increased by 130% to 3,587 bbls/d during 2017 compared to 1,557 bbls/d during 2016.