Paramount Resources Ltd. Reports Production Results for the Fourth Quarter and Year Ended December 31, 2018; Provides Production Guidance for the First Half, Second Half and Full Year 2019; Plans Exploration, Development and Production Activities, Including the Anticipated Ramp Up of Production At Wapiti
For the year, the company reported total sales volume of 85,941 Boe/d against 44,970 Boe/d a year ago.
company's sales volumes are anticipated to average between 80,000 Boe/d and 81,000 Boe/d in the first half of 2019, as the majority of new 2019 wells are scheduled to be brought on later in the year.
Paramount expects production to increase in the second half of the year as production at Wapiti ramps up, with fourth quarter sales volumes forecast to average between 85,000 Boe/d and 90,000 Boe/d.
Paramount's 2019 annual sales volumes are expected to average between 81,000 Boe/d and 85,000 Boe/d.
Estimated capital expenditures required in 2019 for the expansion of the 6-18 facility at Karr and planned exploration, development and production activities, including the anticipated ramp up of production at Wapiti.