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Bullboard - Stock Discussion Forum Paramount Resources Ltd T.POU

Alternate Symbol(s):  PRMRF

Paramount Resources Ltd. is a Canada-based energy company. The Company explores and develops both conventional and unconventional petroleum and natural gas. It also pursues longer-term strategic exploration and pre-development plays and holds a portfolio of investments in other entities. Its principal properties are located in Alberta and British Columbia. The Company's operations are organized... see more

TSX:POU - Post Discussion

Paramount Resources Ltd > POU non core sale info $70.4M US$ (TOU)
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Post by 2021Gamble on Jul 17, 2021 7:14am

POU non core sale info $70.4M US$ (TOU)


Fri Jul 16 17:34:28 2021 EDT

Deal In Brief

Paramount Resources Ltd, an independent petroleum company, has completed the sale of its non-operated Birch assets located in northeast British Columbia, to Tourmaline Oil Corp, an oil and natural gas exploration and production company, for a sale consideration of approximately C$88 million before customary closing adjustments

The asset includes current production of 2,400 boepd from 15 Montney horizontals with 2P reserves of 40 mmboe and 105 estimated Tier 1 locations

The transaction implies values of US$29,321.96 per boe of net daily production and US$1.76 per boe of 2P reserves

Deal history Announced: On May 5, 2021, Paramount Resources has entered into a definitive agreement to sell its non-operated Birch asset located in northeast British Columbia, for a sale consideration of approximately C$77 million.

Deal Value (US$ Million) 70.37
Deal Type Acquisition
Sub-Category Asset Purchase
Deal Status Completed: 2021-07-15

Deal Participants

Acquirer (Company) Tourmaline Oil Corp.
Vendor (Company) Paramount Resources Ltd

Deal Rationale

Comment by Raymondjames on Jul 17, 2021 9:37am
Watch the NCIB kick in .... ouch. At $15.80 now, we are looking at 20% roi in 60 days. 
Comment by poliden on Jul 18, 2021 12:11am
This post has been removed in accordance with Community Policy
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