Paramount Resources Ltd. provided production guidance for the first half, second half and full year 2022. First half 2022 sales volumes are still expected to average between 81,000 Boe/d and 85,000 Boe/d (44% liquids), taking into account a planned 16-day full field outage at Karr during the second quarter for turnaround activities at third-party midstream facilities.

Second half 2022 sales volumes are now expected to average between 101,000 Boe/d and 105,000 Boe/d (47% liquids) as numerous new wells from the Company's capital program are brought onstream.

The Company is increasing its 2022 annual production guidance to average between 91,000 Boe/d and 95,000 Boe/d (46% liquids) to reflect the impact of the Grande Prairie Acquisition.