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Paramount Resources Ltd (POU.TO)

POU.TO on Toronto Stock Exchange

20.17CAD
23 Oct 2017
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$-0.56 (-2.70%)
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Latest Key Developments (Source: Significant Developments)

Paramount Resources obtains shareholder approval for Trilogy merger
Friday, 8 Sep 2017 03:10pm EDT 

Sept 8 (Reuters) - Paramount Resources Ltd ::Paramount Resources Ltd obtains shareholder approval for merger with Trilogy‍​.Says approval requirements that were voted in favour of the merger exceeded 98%.Says shareholders of Trilogy Energy Corp also approved the merger at a special meeting of Trilogy shareholders held on Sept 8​.Says shareholders elected additional 3 Directors to Board of Directors of Paramount, conditional on merger being completed‍​.  Full Article

ISS, Glass Lewis recommend Paramount, Trilogy shareholders vote in favor of deal
Wednesday, 30 Aug 2017 12:48pm EDT 

Aug 30 (Reuters) - Paramount Resources Ltd ::Independent proxy advisory firms recommend that Paramount and Trilogy shareholders vote for merger of Paramount and Trilogy.  Full Article

Paramount Resources posts Q2 income per share $0.42
Wednesday, 9 Aug 2017 05:25am EDT 

Aug 9 (Reuters) - Paramount Resources Ltd :Paramount Resources Ltd announces second quarter 2017 results.Q2 revenue c$45.4 million versus I/B/E/S view c$53.9 million.Paramount Resources Ltd - ‍sales volumes averaged approximately 22,000 boe/d in June and 27,000 boe/d in July​.Qtrly funds flow from operations per share $0.33.Qtrly net income per share $0.42.Paramount Resources - ‍sales volumes in August 2017 will be impacted by scheduled outages at third-party facility and third-party natural gas pipeline​.Q2 earnings per share view c$-0.03 -- Thomson Reuters I/B/E/S.  Full Article

Apache announces strategic exit from Canada
Thursday, 6 Jul 2017 06:10pm EDT 

July 6 (Reuters) - Apache Corp ::Apache announces strategic exit from Canada.Apache Corp - also in June, Apache sold assets at Midale and House mountain, located in Saskatchewan and Alberta, to Calgary-based Cardinal Energy Ltd.Apache Corp says Apache budgeted $125 million of capital expenditures to canada for 2017 and 2018.Apache Corp - ‍upon completion of exit from Canada, Apache will realize a significant reduction in asset retirement obligations and annual overhead costs​.Apache Corp - in a separate transaction signed in June, Apache agreed to sell its provost assets in Alberta to an undisclosed privately owned company.Apache Corp - ‍total company revenues per boe, cash margins per boe, and earnings per share will also improve with completion of transactions​.Apache Corp - Apache budgeted $125 million of capital expenditures to Canada for 2017 and 2018.Apache - production from Apache's Canadian operations averaged approximately 300 million cubic feet of gas equivalent per day for second-quarter 2017.Apache Corp - ‍plans to update its 2017 and 2018 guidance following closings of three transactions​.Apache Corp - proceeds from transactions to be used to fund portion of co's 2017-2018 capital program, to reduce debt, or improve overall liquidity.  Full Article

Trilogy Energy agrees to merge with Paramount Resources
Thursday, 6 Jul 2017 06:04pm EDT 

July 6 (Reuters) - Trilogy Energy Corp ::Trilogy Energy Corp. Agrees to merge with Paramount Resources Ltd..Trilogy Energy Corp - Paramount today announced that it has also entered into an agreement to acquire Apache Canada Ltd.Trilogy Energy Corp - ‍upon completion of merger, Paramount will have approximately 134.7 million shares outstanding​.Trilogy Energy Corp - merger with Paramount is conditional upon, among other things, Paramount completing acquisition of Apache Canada.Trilogy Energy - Paramount would buy all shares, non-voting shares of Trilogy not already owned by Paramount for class A common shares of Paramount.Trilogy Energy - Paramount to buy shares of Trilogy not already owned by Paramount on basis of one Paramount share for every 3.75 of co's shares.Trilogy Energy Corp - outstanding high yield notes of Trilogy will remain outstanding following completion of merger.Trilogy Energy - ‍clayton H. Riddell will beneficially own or control, directly or indirectly, about 44% of outstanding shares of Paramount, post merger​.  Full Article

Paramount Resources to acquire Apache Canada
Thursday, 6 Jul 2017 06:04pm EDT 

July 6 (Reuters) - Paramount Resources Ltd ::Paramount Resources Ltd to acquire Apache Canada Ltd. for $459.5 million; Paramount and Trilogy Energy Corp. Agree to merge.Paramount Resources Ltd - ‍paramount plans to fund Apache Canada acquisition with cash on hand and no debt will be assumed​.Paramount Resources - once completed Apache Canada acquisition, merger to result in co having combined Q4 2017 production expected to exceed 90,000 boe/d.Paramount Resources-‍paramount, upon acquiring Apache Canada & merging with Trilogy, to become montney, duvernay & deep basin focused intermediate E&P co.Paramount Resources Ltd - ‍apache Canada acquisition is not conditional on completion of merger​.Paramount Resources Ltd - ‍merger is conditional upon completion of Apache Canada acquisition and is targeted for completion in September 2017​.Paramount Resources-co's ‍credit facility has been increased from $100 million to $300 million and revolving term of facility has been extended to April 30, 2018​.Paramount Resources - senior management of Paramount and Trilogy are expected to be part of Paramount management team following completion of merger.Paramount Resources Ltd - it is anticipated that independent directors of trilogy will become directors of Paramount upon completion of merger.Paramount Resources Ltd - Clayton Riddell to remain chairman, Jim Riddell to remain president and CEO of Paramount following completion of merger.  Full Article

Paramount Resources reports qtrly earnings per share $0.19
Wednesday, 10 May 2017 07:00am EDT 

May 10 (Reuters) - Paramount Resources Ltd : :Paramount Resources Ltd announces first quarter 2017 results: sales volumes average 16,163 boe/d; karr 6-18 facility expansion on-stream ahead of schedule.Paramount Resources Ltd - liquids sales revenue totaled $38.0 million in Q1 of 2017.Paramount Resources Ltd - Paramount's capital budget for 2017 has been increased to $385 million.Paramount Resources Ltd - sales volumes averaged approximately 19,000 boe/d in March 2017 as new wells were brought on production at karr-gold creek.Paramount Resources Ltd - company's 2017 average sales volumes guidance remains at 20,000 boe/d.Paramount Resources Ltd - Q4 sales volumes are expected to average over 30,000 boe/d.Paramount Resources Ltd - annual operating costs for 2017 are anticipated to average approximately $10.00 per boe.Paramount Resources - Q4 2017 operating costs projected to be lower than in first part of year because of ramp-up in production volumes at Karr-Gold Creek.Paramount Resources Ltd qtrly earnings per share $0.19.  Full Article

Paramount Resources to sell its oil and gas properties in Valhalla for about $150 mln
Monday, 1 May 2017 07:30am EDT 

May 1 (Reuters) - Paramount Resources Ltd -:Paramount Resources Ltd. To sell its oil and gas properties in valhalla for approximately $150 million cash.Paramount Resources Ltd - deal for approximately $150 million.Paramount-Assets in deal encompass about 94 (74 net) sections of land, had estimated sales volumes of about 1,400 boe/d for 3-month period ended march 31.  Full Article

Paramount Resources Q4 2016 sales volumes averaged 11,901 boe/d
Thursday, 9 Mar 2017 07:00am EST 

Paramount Resources Ltd : Paramount resources ltd - q4 2016 sales volumes averaged 11,901 boe/d . Paramount resources ltd - paramount's sales volumes averaged approximately 16,000 boe/d for month of february 2017 . Paramount resources - hedged 2,000 bbl/d of liquids at an average wti price of c$70.43/bbl and 1,000 bbl/d of liquids at a wti price of us$54.50/bbl for 2017 . Paramount resources ltd - company has also locked in us$3.4 million of gains on natural gas hedging contracts that will be received over remainder of 2017. . Paramount resources ltd. Announces 2016 results: karr-gold creek p+p reserves increase 194 percent to 84.3 mmboe; 2017 annual sales volumes projected to average approximately 20,000 boe/d .Paramount resources- for karr-gold creek by end of 2017, co expects to have completed up to 22 of 27 wells, remaining wells to be completed in 2018.  Full Article

Paramount Resources Ltd announces that its senior unsecured notes due 2019 will be redeemed
Thursday, 17 Nov 2016 05:46pm EST 

Paramount Resources Ltd : Paramount Resources Ltd announces that its senior unsecured notes due 2019 will be redeemed . Paramount Resources Ltd says redemption price will be 102.542% of principal amount of 2019 notes redeemed . Paramount Resources says will redeem all of its outstanding 7.625% senior unsecured notes due 2019 in aggregate principal amount of $286.6 million on Dec. 19 .Paramount Resources says co will pay aggregate redemption price plus accrued & unpaid interest on notes to, but excluding, redemption date with cash on hand.  Full Article

BRIEF-Paramount Resources obtains shareholder approval for Trilogy merger

* Paramount Resources Ltd obtains shareholder approval for merger with Trilogy‍​