Paramount monetized 74% of its Seven Generations equity stake for gross proceeds of $735 mm (weighted average sale price of $29.76/share). The first well result from its re-focused efforts at Karr yields a solid IP rate averaging 7.0 mmcf/d plus 1,288 bbl/d of liquids (2,454 boe/d) over the initial 16 days of production. With a great initial results and bountiful cash on hand, the Company will be drilling a total of 25 wells at Karr over the next 9-12 months. Based on accelerated capital spen
26 Sep 2016
Partially Monetizes Seven Generations Equity Stake, Liquidity Facilitates Accelerated Growth Outlook
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Partially Monetizes Seven Generations Equity Stake, Liquidity Facilitates Accelerated Growth Outlook
Paramount Resources Ltd. Class A (POU:TSE) | 0 0 -0.2% | Mkt Cap: 2,314m
- Published:
26 Sep 2016 -
Author:
Cody R. Kwong -
Pages:
9
Paramount monetized 74% of its Seven Generations equity stake for gross proceeds of $735 mm (weighted average sale price of $29.76/share). The first well result from its re-focused efforts at Karr yields a solid IP rate averaging 7.0 mmcf/d plus 1,288 bbl/d of liquids (2,454 boe/d) over the initial 16 days of production. With a great initial results and bountiful cash on hand, the Company will be drilling a total of 25 wells at Karr over the next 9-12 months. Based on accelerated capital spen