Nuvista Energy Ltd T.NVA

Alternate Symbol(s): NUVSF

Energy Oil & Gas E&P

NuVista Energy Ltd. is an oil and natural gas company, which is engaged in the exploration for, and the development and production of, oil and natural gas reserves in the Western Canadian Sedimentary Basin. Its primary focus is on the scalable and repeatable condensate rich Montney formation in the Alberta Deep Basin (Wapiti Montney). Its core operating areas of Wapiti and Pipestone in the Montney formation are located near the City of Grande Prairie, Alberta, approximately 600 kilometers northwest of Calgary. Its Montney Formation is a shale gas and shale oil resource. The Montney formation in the Wapiti area is a thick (200m+) section of hydrocarbon-charted fine-grained reservoir found at depths ranging from 2,500-3,500m.

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Nuvista Energy Ltd > Paramount Resources Disposes of a Portion of Its Investment

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Post by Betteryear2on Apr 12, 2024 1:33pm

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Post# 35986173

Paramount Resources Disposes of a Portion of Its Investment

This press release is being issued pursuant to section 5.2 of National Instrument 62-104 -Take-Over Bids and Issuer Bids.

CALGARY, AB, April 12, 2024 /CNW/ - Paramount Resources Ltd. ("Paramount" or the "Company") (TSX: POU) announces that it sold 6,000,000 common shares ("NuVista Shares") of NuVista Energy Ltd. ("NuVista") on April 11, 2024 by means of a block trade through the facilities of the TSX (the "Transaction"). Paramount received $12.50 per NuVista Share for aggregate cash consideration of $75,000,000.

Paramount Resources Ltd. Disposes of a Portion of Its Investment in the Common Shares of NuVista Energy Ltd. (newswire.ca)