Paramount Resources, Ltd. (TSX:POU) has downwardly revised its first half of 2023 sales guidance due to the impact of the ongoing Alberta wildfires.
The natural-gas-focused energy company said it now expects average sales of about 92,500 barrels of oil equivalent per day (boe/d), below its previous guidance range of 96,000 to 101,000 boe/d.
It also noted that it has successfully restored all but about 2,500 boe/d of the production it was required to curtail as a result of the wildfires.
“Paramount is working to restore the last of the curtailed production and continues to assess the residual impact of the wildfires arising from interruptions to maintenance and development activities,” the company said.
As of July 4, 103 wildfires continued to burn across Alberta, according to the province’s wildfire dashboard.
Paramount Resources shares were trading up 0.5% at $28.94 on the Toronto Stock Exchange on Tuesday morning.
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