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Paramount Resources down on wildfire-led output curtailment

May 8, 20238:59 AM Reuters0 Comments

Paramount Resources Ltd. logo

Shares of Canadian energy company Paramount Resources Ltd fall 2% to C$30.60.

POU said on Sunday its operations were impacted by the ongoing wildfires in Alberta.

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, Vermilion Energy Inc, Pipestone Energy Corp, Tourmaline Oil Corp, Cenovus Energy Inc and NuVista Energy Ltd also said their operations have been impacted due to wildfires.

Cenovus NuVista Paramount Resources Pipestone Tourmaline Veren Vermilion Energy

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