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

Pumpjacks at work pumping crude oil near Halkirk, Alta., June 20, 2007. THE CANADIAN PRESS/Larry MacDougal

CALGARY — Paramount Resources Ltd. says it expects its average sales volumes for the first half of 2023 will come in below its earlier guidance as it works to restore the last of the production that was put on hold due to the Alberta wildfires.

The company says average sales volumes for the first half 2023 are expected to be about 92,500 barrels of oil equivalent per day (boepd).

The figure is down from its previous guidance of between 96,000 to 101,000 boepd for the first half of this year.

Paramount says it is working to restore the last of the curtailed production and continues to assess the impact of the fires due to interruptions to maintenance and development work.

t says it has successfully restored all but about 2,500 boepd of the production that had been curtailed as a result of the wildfires.

Paramount was one of several energy companies that were forced to stop production temporarily in Alberta earlier this year due to wildfires.

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