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 a strong presence in key operational regions, including the Montney and Duvernay formations, focusing on exploration, production, and development of hydrocarbon resources. Paramount is renowned for its innovative approach to resource extraction, offering a diverse portfolio of services that includes natural gas, crude oil, and natural gas liquids. The company’s commitment to sustainability and operational efficiency sets it apart in a competitive market. With a solid track record of growth and strategic acquisitions, Paramount has positioned itself as a leader in the sector, consistently achieving notable milestones that reflect its dedication to excellence and industry advancement.
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 9 is higher than 60% of the industry. This can give you a sense of how well the company is doing compared to its peers.
Paramount Resources's reported carbon emissions
In 2022, Paramount Resources reported approximately 500,000 tonnes CO2e in Scope 1 emissions, with negligible Scope 2 emissions of about 20 tonnes CO2e. This marked a significant reduction from 2021, where Scope 1 emissions were also around 500,000 tonnes CO2e, but with slightly higher Scope 2 emissions of 10 tonnes CO2e. In 2020, the company recorded about 250,000 tonnes CO2e in Scope 1 emissions, indicating a trend of fluctuating emissions over the years. Paramount Resources has not publicly set specific reduction targets through initiatives like the Science Based Targets initiative (SBTi) or disclosed detailed reduction strategies. However, they have participated in the Carbon Disclosure Project (CDP), where they received a score of "B" in 2023, reflecting a moderate level of transparency and action on climate-related issues. The company’s emissions profile highlights a reliance on fossil fuel production, which is typical in the industry, and underscores the importance of ongoing efforts to manage and reduce carbon emissions in alignment with global climate goals.
Unlock detailed emissions data
Access structured emissions data, company-specific emission factors, and source documents
Add to project| 2019 | 2020 | 2021 | 2022 | |
|---|---|---|---|---|
| Scope 1 | 564,225,000 | 000,000,000 | 000,000,000 | 000,000,000 |
| Scope 2 | 132,751,000 | - | 00 | 00 |
| 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 committed to some reduction initiatives 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.
