11:28 AM EST, 11/04/2025 (MT Newswires) -- Paramount Resources ( PRMRF ) said Tuesday that it increased its 2025 annual midpoint production guidance despite swinging to a net loss in the third quarter.

Paramount reported a net loss of C$2.3 million, or a loss of $0.02 per diluted share, reversing the year-ago net income of $95.8 million, or $0.64 per diluted share.

Sales volumes plunged to 36,087 barrels of oil equivalent per day from 94,892 boe/d a year ago.

Despite the earnings decline, Paramount raised its annual average sales volumes target to a range of 41,000-42,000 barrels of oil equivalent per day, compared to the initial guidance of 38,500-42,500 boe/d.

Paramount made the guidance increase after its third-quarter sales volumes exceeded guidance by about 5,000 boe/d. The company cited the exceptional runtime at its new wholly-owned and operated Alhambra Plant in Willesden Green during the ongoing production ramp-up.

Meanwhile, Paramount said it sanctioned the development of its Montney natural gas play at Sinclair in Canada, following continued strong results from the recent extended flow tests of the company's first two appraisal wells.

The project's first phase is designed for a plateau rate of sales gas in excess of 50,000 boe/d that can be maintained for over 20 years, Paramount said.

Paramount's share price at last look fell 2.4% to $22.77 on the Toronto Stock Exchange in early Tuesday trading.

Price: 22.77, Change: -0.55, Percent Change: -2.36