CALGARY,
AB, May 14, 2023 /CNW/ - Paramount Resources
Ltd. ("Paramount" or the "Company") (TSX: POU) advises that, as a
result of the further development of the ongoing Alberta wildfires, the third-party Wapiti
natural gas processing facility and the Company's fields producing
to the facility were again shut down on the afternoon of
May 12. Approximately 45,000 Boe/d of
production in the Grande Prairie
and Kaybob Regions is now temporarily curtailed. The Company is not
aware of any significant damage or loss to material owned or
third-party infrastructure at this time.
Paramount continues to work with civil authorities and its
industry partners to ensure the safety of its personnel and be in a
position to restore curtailed production when conditions permit.
The situation continues to evolve and Paramount will provide an
update once production is substantially restored.
Paramount reiterates its gratitude to its personnel and industry
partners and all emergency responders and firefighters for their
extraordinary efforts in responding to the wildfires.
ABOUT PARAMOUNT
Paramount is an independent, publicly traded, liquids-rich
natural gas focused Canadian energy company that explores for and
develops both conventional and unconventional petroleum and natural
gas, including longer-term strategic exploration and
pre-development plays, and holds a portfolio of investments in
other entities. The Company's principal properties are located in
Alberta and British Columbia. Paramount's class A common
shares are listed on the Toronto Stock Exchange under the symbol
"POU".
SOURCE Paramount Resources Ltd.