Paramount Resources
Paramount Resources Ltd., commonly referred to as Paramount, is a prominent player in the Canadian oil and gas industry, headquartered in Calgary, Alberta. Founded in 1976, the company has established itself as a leader in exploration and production, primarily focusing on natural gas and crude oil. With significant operations in key regions such as the Montney and Duvernay formations, Paramount is well-positioned to leverage its extensive resource base. The company is renowned for its innovative approach to resource development, employing advanced technologies to enhance efficiency and sustainability. Paramount's commitment to responsible operations has earned it a strong market position, marked by notable achievements in production growth and environmental stewardship. As a trusted name in the energy sector, Paramount Resources continues to drive progress while meeting the evolving demands of the market.
DitchCarbon Score
How does Paramount Resources's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Crude Oil Extraction industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
Paramount Resources's score of 17 is higher than 93% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Paramount Resources's reported carbon emissions
In 2023, Paramount Resources reported total carbon emissions of approximately 460,416,000 kg CO2e from Scope 1 and 53,301,000 kg CO2e from Scope 2. This represents a decrease in Scope 1 emissions from 483,762,000 kg CO2e in 2022, indicating a commitment to reducing direct emissions. The company has not disclosed any Scope 3 emissions data. Over the past few years, Paramount Resources has shown a trend of decreasing emissions, with Scope 1 emissions dropping from about 490,454,000 kg CO2e in 2020 to the current figure. However, there are no specific reduction targets or initiatives outlined in their climate commitments, nor have they engaged with the Science Based Targets initiative (SBTi) for formal reduction targets. The company’s emissions intensity for Scope 1 in 2023 was reported at 13.1 tCO2e per barrel of oil equivalent (Boe), down from 14.9 tCO2e/Boe in 2022. This suggests an improvement in operational efficiency alongside emissions reductions. Paramount Resources continues to focus on its emissions management strategy, although further details on specific climate pledges or comprehensive reduction initiatives are not available.
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| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Scope 1 | 564,225,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 |
| Scope 2 | 132,751,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 3 | - | - | - | - | - |
Industry emissions intensity
Location emissions intensity
Reduction initiatives & disclosure networks
Companies disclose and commit to reducing emissions to show they are serious about reducing emissions impact over time. They can also help a company track its progress over time.
Paramount Resources is not participating in any of the initiatives that we track. This may change over time as the company engages with new initiatives or updates its commitments. DitchCarbon will update this information as it becomes available.
