Painted Pony Energy Ltd. announced earnings and operating results for the second quarter and six months ended June 30, 2018. For the quarter, the company cash flow from operations of CAD 35.7 million or CAD 0.21 per basic and diluted share against CAD 18.2 million or CAD 0.13 per basic and diluted share a year ago. Net loss was CAD 33.2 million or CAD 0.21 per basic and diluted share against income of CAD 13.8 million or CAD 0.10 per basic and diluted share a year ago. Capital expenditures were CAD 17.6 million against CAD 57.9 million a year ago. It increased adjusted funds flow from operations by 116% to CAD 39.1 million (CAD 0.24 per share basic), compared to CAD 18.1 million (CAD 0.13 per share basic) during the second quarter of 2017. Petroleum and natural gas Revenues were CAD 87.7 million against CAD 66.4 million a year ago.

For the six months, the company cash flow from operations of CAD 87.3 million or CAD 0.51 per basic and diluted share against CAD 49.9 million or CAD 0.42 per basic and diluted share a year ago. Net loss was CAD 41.6 million or CAD 0.26 per basic and diluted share against income of CAD 70.7 million or CAD 0.59 per basic and diluted share a year ago. Capital expenditures were CAD 95.7 million against CAD 154.6 million a year ago. Net debt was CAD 375.3 million against CAD 283.5 million a year ago. Petroleum and natural gas Revenues were CAD 188.5 million against CAD 131.4 million a year ago. Adjusted funds flow from operations was CAD 85.6 million or CAD 0.50 per basic and diluted share against CAD 43.9 million or CAD 0.37 per basic and diluted share a year ago.

For the quarter, the company's total production was 60,116 boe/d against 40,574 boe/d a year ago. Total production was 360.7 MMcfe/d against 243.4 MMcfe/d a year ago.

For the six months, the company's total production was 60,407 boe/d against 38,239 boe/d a year ago. Total production was 362.4 MMcfe/d against 229.4 MMcfe/d a year ago.

The company remains committed to a 2018 capital program that approximates internally generated adjusted funds flow from operations amid ongoing weakness of natural gas prices in western Canada. Based on adjusted funds flow from operations actuals to-date and current strip prices, Painted Pony anticipates 2018 capital expenditures of CAD 145 to CAD 165 million will provide annual average daily production volumes of between 348 MMcfe/d (58,000 boe/d) and 360 MMcfe/d (60,000 boe/d) for 2018.