Paramount Resources Ltd.
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in mil. unless spec.Company Description
- CEO
- James H. T. Riddell
- Full Time Employees
- 505
- Sector
- Energy
- Industry
- Oil & Gas Exploration & Production
- Address
- 888 – 3rd Street SW Calgary AB Canada T2P 5C5
- IPO Date
- Jun 25, 2008
- Website
- paramountres.com
- Similar Companies
- Business
- Paramount Resources Ltd. (TSX: POU, OTC: PRMRF) is a Canadian energy company focused on the exploration, development, production, processing, transportation and marketing of conventional and unconventional petroleum and natural gas reserves and resources; it holds a portfolio of investments in other entities. The company operates primarily in Western Canada through three key regions including Grande Prairie (Karr, Wapiti and Sinclair Montney properties), Kaybob (Kaybob North Duvernay development with Montney and Cretaceous assets) and Central Alberta and Other (Willesden Green Duvernay development, Horn River Basin shale gas and Liard Basin properties); its assets encompass approximately 249,000 net acres in Willesden Green Duvernay with over 700 drilling locations, 109,000 net acres of Duvernay and 179,000 net acres of Montney in Kaybob North, 107,000 net acres in Sinclair Montney and long-term positions in thermal oil, cold flow heavy oil and other investments. Products include shale gas, conventional natural gas, condensate, light and medium crude oil, tight oil, heavy crude oil and other natural gas liquids (NGLs such as ethane, propane and butane), with third quarter 2025 sales volumes reflecting approximately 30,000 Boe/d of liquids-rich production post recent asset changes; the company owns and operates processing infrastructure including the Alhambra Plant and a second natural gas processing plant at Willesden Green on track for completion in the fourth quarter of 2025 adding 18,000 Boe/d capacity. Founded in 1976 and headquartered in Calgary, Alberta, Paramount targets growth to plateau production levels exceeding 50,000 Boe/d at Willesden Green Duvernay and 16,000 Boe/d at Kaybob North Duvernay while maintaining capital discipline and a strong balance sheet. In November 2024, the company announced the sale of its Karr, Wapiti and Zama Montney properties to Ovintiv Inc. for $3.325 billion in cash plus Horn River Basin assets, which closed in early 2025 enabling a special shareholder distribution, amended $500 million credit facility and focus shift to Duvernay and Sinclair Montney development; subsequent actions include the September 2025 disposition of a portion of its NuVista Energy Ltd. shares, sanctioning of Sinclair Montney development, early Alhambra Plant start-up boosting production guidance, renewal of its normal course issuer bid and consistent monthly dividends at $0.15 per share.
Company News
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