Western Canada independent Paramount Resources Ltd. has curtailed some of its natural gas production in Western Canada amid the low price environment.

The independent, whose development is focused in the Montney Shale region, has shut in dry gas production and reduced its forecast 2024 average sales volumes by about 2,250 boe/d. The “company continues to closely monitor market conditions and may restore or further reduce production as conditions warrant,” management said in its recent quarterly results.

Paramount cut its 2024 forecast to a range of 100,000 boe/d to 106,000 boe/d (47% liquids), which is 9,000 boe/d lower at the midpoint than prior guidance.

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