Growing oil and natural gas volumes from the Montney and Duvernay formations, along with rising commodity prices, lifted Paramount Resources Ltd. back to black in 2021.

paramount map

The Calgary-based independent also expects to see higher production in 2022 following its recent acquisition in the Grande Prairie region. The new asset package in northwestern Alberta, near the British Columbia border, is set to contribute 1,000 boe/d to annual sales volumes, management said in its fourth quarter and 2021 results. Paramount reports in Canadian dollars (C$1.00/U.S. 79 cents). 

“The company’s planned 2022 capital expenditures remain unchanged at a range of between $500 million and $540 million, with anticipated efficiency gains offsetting certain inflationary pressures,” the executive team...