Perpetual Energy Inc. Releases Positive Third Quarter 2017 Financial and Operating Results

Perpetual Energy Inc.(TSX:PMT)(“Perpetual”, the “Corporation” or the “Company”) is pleased to release its third quarter 2017 financial and operating results. A complete copy of Perpetual’s unaudited condensed interim consolidated financial statements and related Management Discussion and Analysis (“MD&A”) for the three and nine months ended September 30, 2017 can be obtained through the Company’s website at www.perpetualenergyinc.com and SEDAR at www.sedar.com.

As quoted in the press release:

THIRD QUARTER 2017 HIGHLIGHTS

Production and Operations

  • Exploration and development spending totaled $25.4 million in the third quarter ($53.9 million year to date), a significant increase over prior year spending of $1.4 million ($7.0 million year to date).

  • Drilling and completion activity was focused in West Central Alberta at East Edson during the third quarter of 2017, and included the drilling of four (4.0 net) Wilrich horizontal wells and the completion of seven (7.0 net) wells, four of which were drilled in the first half of 2017. An additional one (0.4 net) exploration well was rig released in the third quarter in the Columbia/Brazeau area within West Central Alberta, with frac and follow on evaluation activities taking place in October.

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