Paramount disposed of its core asset at Musreau/Kakwa for $1.9 billion to Seven Generations.As a result, near-term liquidity concerns have been quelled with greatly reduced debt levels and strategic investments now worth in excess of $1.2 billion.Paramount continues to retain a diverse portfolio of assets in attractive, Montneycentric, areas, which we estimate helps present a RENAV out look of ~$12.70 per share ($10.00 per share, forward strip).Our target price increases to $11.50 per share (
19 Jul 2016
Enters Into Transformative Agreement to Sell Musreau/Kakwa Assets to Seven Generations Energy Ltd. for $1.9 billion
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Enters Into Transformative Agreement to Sell Musreau/Kakwa Assets to Seven Generations Energy Ltd. for $1.9 billion
Paramount Resources Ltd. Class A (POU:TSE) | 0 0 -0.2% | Mkt Cap: 2,314m
- Published:
19 Jul 2016 -
Author:
Cody R. Kwong -
Pages:
10
Paramount disposed of its core asset at Musreau/Kakwa for $1.9 billion to Seven Generations.As a result, near-term liquidity concerns have been quelled with greatly reduced debt levels and strategic investments now worth in excess of $1.2 billion.Paramount continues to retain a diverse portfolio of assets in attractive, Montneycentric, areas, which we estimate helps present a RENAV out look of ~$12.70 per share ($10.00 per share, forward strip).Our target price increases to $11.50 per share (