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Paramount Reports Completion of Transactions in Q3; Gives Preliminary Plan for 2018

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Paramount Reports Completion of Transactions in Q3; Gives Preliminary Plan for 2018
Paramount released its Q3 2017 results where it discussed highlights from the quarter as well as preliminary 2018 plans. Highlights include: Average sales volumes from Q3 were 49,023 boe/d (40% liquids) Capital expenditures in Q3 were $122MM Completed two transactions in Q3 : (1) closed the acquisition of Apache Canada and (2) completed a merger with Trilogy Energy Corp. Q3 Drilling Update : rig released 11 wells, completed 16 wells, and 12 wells were in the process of being completed

Grand Prairie Region

In Q3, Paramount added 45,000 net acres with the closing of the acquisition of Apache Canada bringing its total acreage in the area to 147,000 net acres.

Production in Q3 in the Grand Prairie Region averaged 24,000 boe/d. This production was lower than anticipated due to an outage…

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