Jan 20 (Reuters) - Paramount Resources Ltd POU.TO :
* Provides update on operations and midstream sales process
* Says fourth quarter 2015 sales volumes averaged approximately 45,000 boe/d,
including 10,000 boe/d of condensate
* Continues to implement measures to reduce its cost structure while maximizing
the efficiency and effectiveness of its operations
* Says production in the fourth quarter was impacted by a scheduled ngls
pipeline outage
* Fourth quarter production was also impacted by an unscheduled outage at the
third-party operated smoky deep cut plant
* Has reduced its permanent workforce by approximately 15 percent and
eliminated most of the corporate consultant positions
* Employee salaries have been reduced by five percent in 2016 and rates for
contract work have been reduced by 10 to 15 percent
* Says general and administrative expenses are expected to be reduced by more
than 15 percent in 2016
* Labour and travel costs for the company's field operations are expected to be
reduced by 12 to 15 percent in 2016
* Currently conducting a process for the potential sale of certain of its
midstream assets in the kaybob operating unit
* No assurance that mistream sales process will result in a definitive sale
agreement being entered into or a sale being consummated
* Source text for Eikon ID:nMKWpwPtga
* Further company coverage POU.TO