By Robb M. Stewart
Paramount Resources lifted its production guidance for the year to reflect the performance of its Willesden Green Duvernay development and after expanding its land positions at Willesden Green and at its Sinclair Montney development.
On guidance:
The Canadian energy company bumped up its target for 2026 sales volumes by 1,000 oil-equivalent barrels a day to between 46,000 and 51,000 barrels daily.
Paramount, which is focused on conventional and unconventional petroleum and natural gas assets in Alberta and British Columbia, said sales volumes in the first half of the year are expected to average between 39,000 barrels of oil equivalent a day and 44,000 Boe/d, which represents a 2,000 Boe/d increase from its prior guidance. The boost reflects higher assumed reliability of its Alhambra plant, based on performance to date, as well as stronger well productivity, it said.
Third-quarter sales volumes are expected to average 46,500 Boe/d to 51,500 Boe/d as the second phase of the Alhambra plant comes onstream, and volumes in the fourth quarter are anticipated to be between 59,000 Boe/d and 64,000 Boe/d.
The Willesden Green Duvernay development is located near Rocky Mountain House, Alberta, and the Sinclair Montney development is located west of Grande Prairie, Alberta. Construction of the first phase of the Alhambra plant was substantially completed in July 2025 and first sales volumes were achieved in late July.
On 4Q output:
Paramount's sales volumes in the last quarter of 2025 were 46,973 Boe/d, a 30% increase from the prior quarter. Annual volumes hit 42,238 Boe/d, topping the upper end of the company's guidance for between 41,000 to 42,000 Boe/d.
The company said that at Willesden Green the ramp-up of production through the Alhambra plant continued, with average sales volumes growing to 25,752 Boe/d in the fourth quarter.
Write to Robb M. Stewart at robb.stewart@wsj.com
(END) Dow Jones Newswires
March 03, 2026 08:31 ET (13:31 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.
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