11:43 AM EST, 03/06/2024 (MT Newswires) -- Paramount Resources Ltd. ( PRMRF ) reported Wednesday a diluted EPS of $0.75 in the fourth quarter of 2023, dropping year over year from $1.76.

Petroleum and natural gas sales fell to $470.5 million from $597.7 million while total sales volumes increased to 101,348 barrels of oil equivalent per day from 97,370 boe/d.

For full-year 2023, EPS dropped to $3.17 from $4.63 as sales were down to $1.80 billion from $2.25 billion. Sales volumes rose to a record 96,393 boe/d from 88,672 boe/d.

The company outlined a 2024 sales volumes guidance range of 100,000 to 106,000 boe/d, lower at the midpoint than the prior guidance of 108,000 to 116,000 boe/d.

In addition, Paramount sold certain non-core assets in the Kaybob Region in February 2024 for $47 million. The company said it retained a 2% no-deduction gross overriding royalty on the undeveloped Montney acreage forming part of the assets.

Paramount at last look declined 10.3% in early Wednesday trading.

Price: 28.12, Change: -3.24, Percent Change: -10.33