Brief: Paramount Resources Announces $375 Mln Asset Sale

Paramount Resources (Pre-Merger)

09/12/2022 13:20

Dec 9 (Reuters) - Paramount Resources Ltd  POU.TO :
    * PARAMOUNT RESOURCES LTD. ANNOUNCES $375 MILLION ASSET
SALE,
PLANNED SPECIAL DIVIDEND AND PRODUCTION UPDATE
    * PARAMOUNT RESOURCES LTD - EXPECTS TO UPDATE ITS 2023
GUIDANCE,
PRELIMINARY 2024 GUIDANCE AND FIVE-YEAR OUTLOOK
    * PARAMOUNT RESOURCES - CURRENT FIVE-YEAR OUTLOOK FOR PERIOD
FROM
2023 TO END OF 2027 INCORPORATES AVERAGE SALES VOLUMES OF ABOUT
5,000 BOE/D FROM ASSETS
    * PARAMOUNT RESOURCES LTD - EXPECTS TO DECLARE A SPECIAL
DIVIDEND
OF $1.00 PER CLASS A COMMON SHARE
    * PARAMOUNT RESOURCES LTD- Q4 2022 SALES VOLUMES ARE NOW
EXPECTED
TO AVERAGE BETWEEN 97,000 BOE/D AND 101,000 BOE/D
    * PARAMOUNT RESOURCES LTD- FULL YEAR 2022 AVERAGE SALES
VOLUMES
ARE NOW EXPECTED TO AVERAGE BETWEEN 88,000 BOE/D AND 90,000
BOE/D
    * PARAMOUNT RESOURCES - EXPECTS TO USE PORTION OF CASH
PROCEEDS
FROM DISPOSITION TO REPAY ANY THEN REMAINING DRAWINGS UNDER
REVOLVING CREDIT FACILITY

Source text for Eikon:  ID:nCNW7t5hCa 
Further company coverage:  POU.TO 
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