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CALGARY, AB, Nov. 3, 2022 /CNW/ – Paramount Resources Ltd. (“Paramount” or the “Company”) ( TSX: POU ) is pleased to announce third quarter 2022 financial and operating results highlighted by record production, funds flow and free cash flow and a 2023 capital expenditure budget that is forecast to generate approximately $650 million in free cash flow on production of between 105,000 Boe/d and 110,000 Boe/d (46% liquids). (1)(2) Paramount is also pleased to announce that it is increasing its regular monthly dividend by 25% from $0.10 per class A common share (“Common Share”) to $0.125 per Common Share beginning November 2022. HIGHLIGHTS The Company achieved record quarterly sales volumes of 97,601 Boe/d (46% liquids) in the third quarter, including record monthly sales volumes of 104,506 Boe/d (46% liquids) in September. Karr sales volumes averaged 38,088 Boe/d (50% liquids) in the quarter, with September production averaging 40,485 Boe/d (49% liquids). Wapiti sales volumes averaged 27,893 Boe/d (54% liquids) in the quarter. September production averaged 30,589 Boe/d (54% liquids), exceeding targeted plateau production one quarter ahead of schedule. Four new Duvernay wells at Smoky and three new Duvernay wells at Kaybob North were brought onstream in the third quarter, increasing […]
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