Paramount lowers first half 2023 average sales volumes guidance due to wildfires

CALGARY –

Paramount Resources Ltd. says it expects its common gross sales volumes for the primary half of 2023 will are available beneath its earlier steering as it really works to revive the final of the manufacturing that was placed on maintain as a result of Alberta wildfires.

The firm says common gross sales volumes for the primary half 2023 are anticipated to be about 92,500 barrels of oil equal per day (boepd).

The determine is down from its earlier steering of between 96,000 to 101,000 boepd for the primary half of this 12 months.

Paramount says it’s working to revive the final of the curtailed manufacturing and continues to evaluate the impression of the fires attributable to interruptions to upkeep and improvement work.

t says it has efficiently restored all however about 2,500 boepd of the manufacturing that had been curtailed because of the wildfires.

Paramount was one in every of a number of power corporations that have been pressured to cease manufacturing quickly in Alberta earlier this 12 months attributable to wildfires.

This report by The Canadian Press was first printed July 4, 2023.