CALGARY, Dec. 17, 2018 /CNW/ – Painted Pony Energy Ltd. (“ Painted Pony ” or the “ Corporation “) ( TSX: PONY ) announces a 2019 capital program focused on preserving financial flexibility and maintaining capital discipline. The Corporation’s ongoing risk management program, which includes hedging using both financial and physical contracts, combined with diversified transportation arrangements allows Painted Pony to optimize the 2019 capital program which will be fully funded by internally generated adjusted funds flow from operations. 2019 CAPITAL BUDGET Painted Pony’s Board of Directors has approved a 2019 development capital budget which consists of: Investing between $95 million and $110 million of development capital approximately matching anticipated 2019 adjusted funds flow from operations, and; Delivering annual average daily production volume between 324 MMcfe/d (54,000 boe/d) and 336 MMcfe/d (56,000 boe/d). Pricing and Transportation Diversification: Fixed price contracts on approximately 50% of forecasted 2019 production revenue at a volume-weighted average price of $4.84/Mcfe; Market diversification combined with hedging contracts results in approximately 23% of total production volumes expected to be sold on US-based pricing at Sumas, Dawn and NYMEX. Consistent with 2018 liquids forecast, natural gas liquids during 2019 are expected to average approximately 9% of total […]