Impact: Positive. Paramount disposed of a core asset at an attractive valuation. As result, near-term liquidity concerns have been quelled as the Company's stock portfolio now breaches $1 billion. Paramount still retains a diverse portfolio of assets in attractive areas, though we'd note that Paramount will be developing these areas from a fairly junior position, in terms of facilities and well learnings, and will need to consider economics on a full-cycle basis.
06 Jul 2016
ENTERS INTO AN AGREEMENT TO SELL 30,000 BOE/D AND ASSOCIATED ACREAGE (310 NET SECTIONS) AT DEEP BASIN MUSREAU/KAKWA TO SEVEN GENERATIONS ENERGY LTD. FOR TOTAL CONSIDERATION OF $1.9 BILLION
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ENTERS INTO AN AGREEMENT TO SELL 30,000 BOE/D AND ASSOCIATED ACREAGE (310 NET SECTIONS) AT DEEP BASIN MUSREAU/KAKWA TO SEVEN GENERATIONS ENERGY LTD. FOR TOTAL CONSIDERATION OF $1.9 BILLION
Paramount Resources Ltd. Class A (POU:TSE) | 0 0 -0.2% | Mkt Cap: 2,314m
- Published:
06 Jul 2016 -
Author:
Cody R. Kwong -
Pages:
6
Impact: Positive. Paramount disposed of a core asset at an attractive valuation. As result, near-term liquidity concerns have been quelled as the Company's stock portfolio now breaches $1 billion. Paramount still retains a diverse portfolio of assets in attractive areas, though we'd note that Paramount will be developing these areas from a fairly junior position, in terms of facilities and well learnings, and will need to consider economics on a full-cycle basis.