HIGHLIGHTS Sales volumes averaged 61,064 Boe/d in the third quarter of 2020 compared to 68,839 Boe/d in the second quarter. Third quarter sales volumes at Karr averaged 19,246 Boe/d compared to 16,009 Boe/d in the second quarter. At Wapiti, third quarter sales volumes were 7,925 Boe/d , approximately 7,000 Boe/d lower than the second quarter, due to an unplanned six-week outage at a third-party natural gas processing [...]
This press release is being issued pursuant to section 5.2 of National Instrument 62-104 -Take-Over Bids and Issuer Bids. Paramount Resources Ltd. announces that it acquired direct ownership and control of 17,324,000 common shares of NuVista Energy Ltd. today at a price of $0.61 per NuVista Share for an aggregate purchase price of $10,567,640. The Transaction was conducted as a block trade through the facilities of the [...]
CALGARY, AB, Sept. 14, 2020 /CNW/ - Paramount Resources Ltd. is pleased to provide an update on its operations and 2020 guidance. HIGHLIGHTS The Company is accelerating $60 million of development activities at Karr and Wapiti from 2021 into the second half of 2020. Sales volumes are now expected to average between 62,500 and 67,500 Boe/d in the second half of 2020, reflecting the impact of the previously announced [...]
Paramount Resources Ltd. was notified by Keyera Corp. on August 17, 2020 of an unplanned outage of the Keyera Wapiti Gas Plant related to an issue with the waste heat recovery system. On August 27, 2020, Keyera further advised that the extent of the issue is more widespread than previously indicated and that it is now unable to provide a definitive indication of the duration of the outage. Sales volumes at Wapiti during [...]
Paramount Resources Ltd. is providing an update concerning its investment in Strath Resources Ltd. As announced by Waterous Energy Fund, Strath amalgamated with Cona Resources Ltd. on August 14, 2020 to form Strathcona Resources Ltd. Prior to the amalgamation, Paramount held common shares of Strath and warrants to acquire common shares of Strath that it received in connection with the July 2018 disposition of its [...]
CALGARY, AB, Aug. 6, 2020 /CNW/ - HIGHLIGHTS Sales volumes averaged 68,839 Boe/d in the second quarter of 2020 compared to 70,022 Boe/d in the first quarter. At Wapiti, second quarter sales volumes increased 107 percent to 14,940 Boe/d compared to the first quarter as run time at the third-party processing facility improved. At Karr, the five wells on the 12-18 pad were flowed through test facilities partway through the [...]
Paramount Resources Ltd. is pleased to announce that it has successfully completed amendments to its senior secured revolving bank credit facility with the unanimous support of its nine-bank syndicate. The amendments include a full waiver of the Senior Secured Debt to Consolidated EBITDA covenant until the third quarter of 2021 and a reduction of the Consolidated EBITDA to Consolidated Interest Expense covenant from 2.50x [...]
CALGARY, May 13, 2020 /CNW/ - HIGHLIGHTS Sales volumes averaged 70,022 Boe/d in the first quarter of 2020. Production in the first quarter of 2020 was impacted by three separate outages at a third-party processing facility in the Wapiti area. This amounted to approximately one full month of downtime or the equivalent of approximately 4,300 Boe/d of high netback production for the quarter. Severe cold weather in January [...]
Paramount Resources Ltd. announces that the following eight director nominees were elected at today's annual general meeting of shareholders: VOTES FOR VOTES WITHHELD Number Percent Number Percent James Riddell 101,524,772 99.79 209,482 0.21 James Bell 101,192,157 99.47 542,097 0.53 Wilfred Gobert 101,321,865 99.59 412,389 0.41 John Gorman 100,960,197 99.24 774,057 0.76 Dirk Jungé 101,172,088 99.45 562,166 0.55 Robert [...]
Paramount Resources Ltd. announces that the 2020 annual general meeting of its shareholders will be held on Thursday, May 7, 2020 at 10:30 a.m. at the Company's offices in Calgary. Due to restrictions on mass gatherings implemented by the Government of Alberta in response to the COVID-19 outbreak and out of concern for the wellbeing of all participants, shareholders and guests will not be permitted to physically attend [...]
Paramount Resources Ltd. announces that, in response to the recent significant decline in global energy prices, it has revised its 2020 capital guidance to a range of $185 million to $250 million, a reduction of approximately 46% at mid-point from the originally planned range of $350 million to $450 million. Forecast average sales volumes for 2020 under the revised capital guidance are expected to range between 70,000 [...]
HIGHLIGHTS Annual sales volumes averaged 82,394 Boe/d in 2019. Fourth quarter 2019 sales volumes averaged 85,411 Boe/d . Cash from operating activities was $256 million in 2019. Adjusted funds flow in 2019 was $299 million or $2.29 per share. Fourth quarter 2019 adjusted funds flow was $93.5 million or $0.71 per share. Strong execution and a continued focus on cost control resulted in lower per well capital costs at both [...]
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