Canada’s Paramount Resources reports record Q3
Paramount Resources said November 3 it had record production, funds flow and free cash flow in Q3 2022, with net income of C$221.9mn (US$160.9mn), sequentially higher than Q2 2022 but down 24% from a year ago.
Sales volumes averaged 97,601 barrels of oil equivalent (boe)/day, up from 77,312 boe/day in the second quarter and 82,150 boe/day in Q3 2021. Natural gas sales averaged 315.9mn ft3/day, up from Q2 2022 sales of 267.2mn ft3/day and year-ago sales of 269.7mn ft3/day.
|
Advertisement: The National Gas Company of Trinidad and Tobago Limited (NGC) NGC’s HSSE strategy is reflective and supportive of the organisational vision to become a leader in the global energy business. |
Cash flow from operating activities was C$248.9mn, up from C$97mn in Q3 2021, while adjusted funds flow rose to C$334.3mn from C$148.4mn a year ago. Free cash flow was C$137.5mn, up from C$73.8mn in Q3 2021.