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BRIEF-Paramount Resources Cuts Capital Spending, Revises Production Guidance

Published 2020-03-19, 07:03 a/m
© Reuters.
POU
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March 19 (Reuters) - Paramount Resources Ltd POU.TO :

* PARAMOUNT RESOURCES LTD. ANNOUNCES REDUCED CAPITAL SPENDING AND REVISED PRODUCTION GUIDANCE

* PARAMOUNT RESOURCES LTD - HAS REVISED ITS 2020 CAPITAL GUIDANCE TO A RANGE OF $185 MILLION TO $250 MILLION

* PARAMOUNT RESOURCES - FORECAST AVERAGE SALES VOLUMES FOR 2020 UNDER REVISED CAPITAL GUIDANCE ARE EXPECTED TO RANGE BETWEEN 70,000 BOE/D TO 75,000 BOE/D

* PARAMOUNT RESOURCES - REVISED 2020 CAPITAL GUIDANCE HAS REDUCTION OF ABOUT 46% AT MID-POINT FROM ORIGINALLY PLANNED RANGE OF $350 MILLION - $450 MILLION

* PARAMOUNT RESOURCES LTD - REVISED CAPITAL PLANS FOR 2020 REMAIN FOCUSED ON CO'S LIQUIDS-RICH MONTNEY ASSETS IN GRANDE PRAIRIE REGION

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