NEWS
03/17/2016 12:53 EDT | Updated 03/18/2017 01:12 EDT

Paramount Resources posts 4th-quarter loss of $448.8 million

CALGARY, Alberta (AP) _ Paramount Resources Ltd. (PRMRF) on Thursday reported a loss of $448.8 million in its fourth quarter.

The Calgary, Alberta-based company said it had a loss of $4.23 per share. Losses, adjusted for asset impairment costs and pretax expenses, were 76 cents per share.

The oil and natural gas company posted revenue of $68.4 million in the period.

For the year, the company reported that its loss widened to $675.3 million, or $6.38 per share. Revenue was reported as $282.3 million.

Paramount Resources shares have risen 68 per cent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $7.29, a drop of 70 per cent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PRMRF at http://www.zacks.com/ap/PRMRF

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Keywords: Paramount Resources, Earnings Report