Canadian energy firm Paramount Resources down on wildfire-led output curtailment

Paramount Resources (Pre-Merger)

08/05/2023 15:59

** Shares of Canadian energy company Paramount Resources Ltd
 POU.TO  fall 2% to C$30.60
    ** POU said on Sunday its operations were impacted by the
ongoing wildfires in Alberta
    ** Canada's main oil-producing province Alberta on Saturday
declared a provincial state of emergency due to wildfires
    ** Paramount says 50,000 barrels of oil equivalent per day
(boepd) of production has been temporarily curtailed since the
evening of May 5
    ** Company is not aware of any significant damage or loss to
material owned or third-party infrastructure
    ** Other Canadian energy companies Crescent Point Energy
Corp  CPG.TO , Vermilion Energy Inc  VET.TO , Pipestone Energy
Corp  PIPE.TO , Tourmaline Oil Corp  TOU.TO , Cenovus Energy Inc
 CVE.TO  and NuVista Energy Ltd  NVA.TO  also said their
operations have been impacted due to wildfires
    ** POU up 11% so far this year

 (Reporting by Arunima Kumar in Bengaluru)
 ((Arunima.Kumar@thomsonreuters.com; Twitter: https://twitter.com/Aru_Kumar94))