Painted Pony Energy Ltd. provided production guidance and capital budget for the years 2017 and 2018. The company expected 2017 annual average daily production to be between 261 MMcfe/d (43,500 boe/d) and 27 MMcfe/d (46,000 boe/d), which is a 93% increase, using the mid-point, over 2016 annual average daily production volumes. The company anticipates 2018 annual average daily production to be between 411 MMcfe/d (68,500 boe/d) and 432 MMcfe/d (72,000 boe/d), which is a 57% increase over the expected mid-point of 2017 annual average daily production volumes. The company’s combined $72 million reduction to the 2017 capital budget and 2018 development plan comprised of a $33 million reduction in 2017 and a $39 million reduction in 2018.