Painted Pony Energy Ltd. expects to begin flowing production volumes in March 2020 through the new deep-cut facility at the AltaGas Townsend Facility (“Townsend Facility”) which is expected to add approximately 1,200 bbls/d of natural gas liquids ("NGLs"), increasing Painted Pony's liquids yields to more than 10%.

The company announced production results for the full year ended December 31, 2019. For the year, the company reported daily production volumes of natural gas at 268.7 MMcf/d against 316.5 MMcf/d a year ago. Natural gas liquids were 4,198 bbls/d against 5,128 bbls/d a year ago. Total production was 293.9 MMcfe/d against 347.3 MMcfe/d a year ago. Total daily production was 48,979 boe/d against 57,879 boe/d.