CA - Paramount Resources announces $375M asset sale planned special dividend
- Paramount Resources ( OTCPK:PRMRF ) has entered into an agreement with an affiliate of Crescent Point Energy for the sale of its Kaybob Smoky and Kaybob South Duvernay properties in the Kaybob Region for cash consideration of $375M .
- The Assets include ~114 gross sections of land, with 7.2 MMBoe of proved developed producing reserves, 40.2 MMBoe of proved reserves and 63.9 MMBoe of proved plus probable reserves.
- Closing of the Disposition is expected to occur in January 2023.
- The Co. has declare a special dividend of $1.00 per class A common share.
- Also, updates 2023 guidance, preliminary 2024 guidance and five-year outlook.
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Paramount Resources announces $375M asset sale, planned special dividend