Painted Pony Energy Ltd. announced earnings results for the third quarter and nine months ended September 30, 2017. For the quarter, the company reported petroleum and natural gas revenue was CAD 50 million against CAD 28 million a year ago. Cash flow from operating activities was CAD 29.6 million against CAD 10.3 million a year ago. Diluted cash flow from operating activities per share was CAD 0.18 against CAD 0.1 a year ago. Funds flow from operations was CAD 29.5 million against CAD 12.6 million a year ago. Diluted funds flow from operations per share was CAD 0.18 against CAD 0.12 a year ago. Net income and comprehensive income was CAD 14.6 million against CAD 11.6 million a year ago. Diluted net income and comprehensive income per share was CAD 0.09 against CAD 0.11 a year ago. Capital expenditures were CAD 85.6 million against CAD 50.5 million a year ago. Net debt was CAD 336.4 million against CAD 202.5 million a year ago.

For the nine months, the company reported petroleum and natural gas revenue was CAD 181.4 million against CAD 56.4 million a year ago. Cash flow from operating activities was CAD 79.5 million against CAD 22.8 million a year ago. Diluted cash flow from operating activities per share was CAD 0.59 against CAD 0.23 a year ago. Funds flow from operations was CAD 72.3 million against CAD 29.1 million a year ago. Diluted funds flow from operations per share was CAD 0.53 against CAD 0.29 a year ago. Net income and comprehensive income was CAD 85.3 million against net loss and comprehensive income of CAD 24.1 million a year ago. Diluted net income and comprehensive income per share was CAD 0.63 against diluted net loss and comprehensive income per share of CAD 0.24 a year ago. Capital expenditures were CAD 240.1 million against CAD 152.9 million a year ago.

The company reported production results for the third quarter and nine months ended September 30, 2017. For the quarter, the company reported production of natural gas of 231.2 MMcf/d against 129.3 MMcf/d a year ago. Production of natural gas liquids were of 3,826bbls/d against 1,189bbls/d a year ago. Total production was of 254.1 MMcfe/d against 136.4 MMcfe/d a year ago. Total production was of 42,353 boe/d against 22,741 boe/d a year ago.

For the nine months, the company reported production of natural gas of 218.2MMcf/d against 106MMcf/d a year ago. Production of natural gas liquids of 3,254 bbls/d against 1,013 bbls/d a year ago. Total production was of 237.8 MMcfe/d against 112 MMcfe/d a year ago. Total production was of 39,626 boe/d against 18,674 boe/d a year ago.

Capital expenditures during the fourth quarter of 2017 are expected to total approximately CAD 74 million.

The company continues to expect annual production volumes for 2017 to average between 261 MMcfe/d (43,500 boe/d) and 276 MMcfe/d (46,000 boe/d), representing a significant increase over 2016 annual average daily production volumes of 139.2 Mcfe/d (23,204 boe/d). The company continues to expect full-year 2017 spending will total approximately CAD 314 million.