Exploration & Production
Paramount Resources Takes Conservative Approach to The Horn River
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SHALE GAS
Paramount's shale gas land position encompasses 150,000 (127,000 net) acres which has potential for production from the Besa River shale gas formation in the Horn River and Liard Basins.
The Company has commenced drilling an initial vertical evaluation well in the Dunedin area of the Liard Basin of Northeast British Columbia. This well is expected to be drilled to 4,500 meters at a cost of approximately $15 million and will be cored and logged for evaluation.
Paramount continues to monitor industry activities in the Horn River and Liard Basins where operators are applying multi-stage fracturing technology to maximize production rates and reserve recoveries. The Company is taking a conservative approach to de-risking its shale gas holdings in the current low natural gas price…
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