Paramount Resources Ltd. is a Canadian

petroleum Petroleum, also known as crude oil or simply oil, is a naturally occurring, yellowish-black liquid chemical mixture found in geological formations, consisting mainly of hydrocarbons. The term ''petroleum'' refers both to naturally occurring un ...

company, founded in 1976. The company is involved in the

exploration Exploration is the process of exploring, an activity which has some Expectation (epistemic), expectation of Discovery (observation), discovery. Organised exploration is largely a human activity, but exploratory activity is common to most organis ...

, development, production, processing, transportation and marketing of

natural gas Natural gas (also fossil gas, methane gas, and gas) is a naturally occurring compound of gaseous hydrocarbons, primarily methane (95%), small amounts of higher alkanes, and traces of carbon dioxide and nitrogen, hydrogen sulfide and helium ...

and its byproducts and crude oil. The company was founded by

Clay Riddell Clayton Howard Riddell, OC (July 13, 1937 – September 15, 2018) was a Canadian billionaire businessman who was the founder, president and CEO of Paramount Resources, based in Calgary, Alberta. Early life He was born on a farm near Treherne ...

. In addition to its own name, Paramount has several subsidiaries with names resembling those of

Hollywood Hollywood usually refers to: * Hollywood, Los Angeles, a neighborhood in California * Hollywood, a metonym for the cinema of the United States Hollywood may also refer to: Places United States * Hollywood District (disambiguation) * Hollywood ...

companies, including Fox Drilling, Summit Resources, and Pixar Petroleum. It also retains significant investment in MGM Energy, which it spun off in 2007. In 2017, Paramount acquired Apache Canada Ltd. for C$459.5 million and merged with Trilogy Energy Corp which itself was originally spun-off from Paramount. In January 2023, Paramount divested assets in the Kaybob Region near

Fox Creek, Alberta Fox Creek is a town in Northern Alberta, northwest Alberta, Canada. It is located on Alberta Highway 43, Highway 43, approximately northwest of Edmonton and southeast of Grande Prairie, and has an elevation of . Fox Creek is within the Upper Pe ...

to Crescent Point Energy for net cash of C$370.0 million. Paramount reported an output of 96,393 barrels of oil equivalent per day (BOE/D) in its 2023 annual report, published in March 2024.

References

External links

* Companies listed on the Toronto Stock Exchange Oil companies of Canada Companies based in Calgary Non-renewable resource companies established in 1976 1976 establishments in Alberta {{canada-company-stub