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Paramount Resources Ltd (POU.TO)

POU.TO on Toronto Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Paramount Resources reports qtrly ‍FFO per share $0.40​
Thursday, 9 Nov 2017 06:30am EST 

Nov 9 (Reuters) - Paramount Resources Ltd :Paramount Resources Ltd announces third quarter 2017 results; 2018 production and capital guidance; October 2017 sales volumes exceed 98,000 boe/d.Paramount Resources Ltd qtrly ‍FFO per share $0.40​.Paramount Resources Ltd - ‍average sales volumes for Q4 are expected to exceed 95,000 boe/d, with greater than 38 percent liquids volumes​.Says ‍average sales volumes for Q4 are expected to exceed 95,000 boe/d, with greater than 38 percent liquids volumes​.Says ‍Paramount's Q3 2017 sales volumes averaged 49,023 boe/d (40 percent liquids)​.Paramount Resources Ltd - ‍expects sales volumes to average approximately 100,000 boe/d in 2018, including 40 percent liquids volumes​.Paramount Resources Ltd - ‍capital expenditures for 2018 are expected to be approximately $600 million​.Paramount Resources Ltd - ‍in 2018 company plans to drill between 70 and 75 net development wells and complete up to 55 of those net wells​.Paramount Resources Ltd - estimates about $130 million of capital will be spent in Q4, bringing total projected annual spending for 2017 to about $510 million​.Paramount Resources Ltd - ‍also intends to spend approximately $28 million on abandonment and suspension activities in 2018​.  Full Article

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

BRIEF-Paramount Resources reports qtrly ‍FFO per share $0.40​

* Paramount Resources Ltd announces third quarter 2017 results; 2018 production and capital guidance; October 2017 sales volumes exceed 98,000 boe/d