Paramount Resources Ltd ( (PRMRF) ) has released its Q4 earnings. Here is a breakdown of the information Paramount Resources Ltd presented to its investors.
Paramount Resources Ltd. is a Canadian energy company focused on the exploration and development of natural gas and petroleum, with operations primarily in Alberta and British Columbia. The company is known for its liquids-rich natural gas production and strategic investments in other entities.
In its 2024 annual results, Paramount Resources Ltd. reported significant financial and operational achievements. The company completed the sale of its Karr, Wapiti, and Zama properties, generating $3.3 billion in cash proceeds. This transaction allowed Paramount to distribute a special cash dividend to shareholders and repurchase common shares, demonstrating a strong commitment to shareholder returns.
Key financial highlights include record annual sales volumes of 98,490 barrels of oil equivalent per day (Boe/d), with a cash flow from operating activities totaling $815 million. The company also reported adjusted funds flow of $930 million and capital expenditures of $842 million, primarily directed towards development projects in the Grande Prairie Region and Duvernay developments.
Looking ahead, Paramount plans to focus its 2025 capital expenditures on the Willesden Green Duvernay and Kaybob North Duvernay developments, with anticipated average sales volumes between 37,500 and 42,500 Boe/d. The company remains well-positioned financially, with substantial liquidity and no drawn bank credit facility, enabling it to pursue its strategic growth initiatives.
Paramount Resources Ltd. is optimistic about its future prospects, with plans to continue developing its extensive inventory of opportunities and enhancing shareholder value through disciplined capital management and strategic investments.