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Paramount Resources Ltd T.POU

Alternate Symbol(s):  PRMRF

Paramount Resources Ltd. is a Canada-based energy company. The Company explores and develops both conventional and unconventional petroleum and natural gas. It also pursues longer-term strategic exploration and pre-development plays and holds a portfolio of investments in other entities. Its principal properties are located in Alberta and British Columbia. The Company's operations are organized into three regions: the Grande Prairie Region, located in the Peace River Arch area of Alberta, which is focused on Montney developments at Karr and Wapiti; the Kaybob Region, located in west-central Alberta, which includes the Kaybob North Duvernay development, the Kaybob North Montney oil development and other shale gas and conventional natural gas producing properties, and the Central Alberta and Other Region, which includes the Willesden Green Duvernay development in central Alberta and shale gas producing properties in the Horn River Basin in northeast British Columbia.


TSX:POU - Post by User

Post by HoneyBadger77on Nov 07, 2024 12:00pm
260 Views
Post# 36301248

POU - RBC Analyst Commentary on Q3

POU - RBC Analyst Commentary on Q3No debt, great cash flow, pays a monthly dividend of 6.63%, what's not to like?  Seeing a lot more positives than negatives.  $7.00 potential capital gain to $34 PT from today's low and a 6.63% divy in the meantime.   Should be back over $27 by end of day.  Not sure why anyone would be selling at these levels.  

IMO

HB77


November 7, 2024

Paramount Resources Ltd. Q3/24 - AFFO Ahead of Street; Trimming '24 Guide
TSX: POU | CAD 27.14 | Sector Perform | Price Target CAD 34.00
Sentiment: Neutral

POU reported Q3/24 AFFO/sh ahead of Street expectations at $1.37 (f.d.) driven by better hedging gains and realizations than forecast, despite slightly lower volumes. 2024 production guidance was revised to 99.5 mboe/d (midpoint, down from 103 mboe/ d) on gas shut-ins and outages while capital remains intact. Paramount remains in very good financial condition with essentially no debt, and sufficient 'dry power' to execute a continued growth program or act on other strategic initiatives (such as A&D/M&A).

Key Points:

• POU generated $201 million of cash flow ($1.37 per share (f.d) vs. RBCe/Street: $1.24/$1.24) in the quarter, with variances driven by better realizations and hedging than expected.

• Paramount reported Q3/24 production of 94,892 boe/d (RBC/Street: 96,899/96,796). Capital expenditures came in at $217 million which is below our estimate of $250mm (Street: $230mm).

• Paramount revised its 2024 volumes guidance to 99.5 mboe (midpoint based on Q4 guidance) (from 103 mboe/d) on top of its capital budget of $860 million. The company flagged fourth quarter deferred shut-in dry gas volumes (currently 4.2 mboe/d) and its Wapiti turnaround extending 6 days longer than anticipated. Q4 volume guidance is pegged at 102-109 mboe/d versus prior 109-121 mboe/d.

• Key operational updates include: (1) During Q3 at Grande Prairie, the company drilled 8 wells (brought 19 on stream) with completion of a compressor node at Wapiti. (2) At Kaybob, the company plans to drill 2 Duvernay wells and bring on 6 Duvernay wells in Q4. (3) At Willesden Green, the company initiated the first phase development of the Alhambra Plant (ongoing construction; 18 mboe/d capacity) where the company plans to drill, complete and tie-in 5 wells in Q4 in advance of Q4/25 plant startup.

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