Paramount Resources Ltd. has retained CB Securities Inc. as its exclusive advisor for the sale of several of its non-core properties with total current production of ~800 BOE/day. Non-Binding Bids are due by March 22, 2017.
Mirage/Saddle Hills
- Current net production is 264 BOE/day from 25.3 net (33 gross) wells
- Additional revenues generated from 11 producing Spirit River Charlie Lake royalty interest wells
- Paramount holds an average 64% working interest in 101.5 sections of land in the Mirage / Spirit River / Saddle Hills area
- Multi-zone production and potential, including Wabamun, Montney, Halfway, Charlie Lake, Gething, Paddy, and Dunvegan
- 100% interest in the ~9 section Mirage Halfway Unit currently developed with verticals
- Royalty interests in ~5 sections of land with ongoing development of the Spirit River Charlie Lake hz play
- Working interests in 14 sections of land for horizontal development of the Spirit River Charlie Lake hz play
- A turnkey property with fully owned and operated field gathering and handling facilities
- Development potential with proprietary 2-D and 3-D seismic in this prolific area
- Consistent cash flow and low decline rates on existing production provides a solid base for future development
- Many workover candidates within the existing Halfway and Charlie Lake vertical interest wells
Harmattan/Ricinus
- Current net production is 260 BOE/day from 22 net (25 gross) wells
- Production is from 23 vertical Cardium wells completed in the upper conglomerate only, 1 vertical Glauconitic well, and 1 horizontal Ellerslie well
- Cardium halo horizontal play in the thick lower shoreface on 8 sections of interest land
- Ellerslie and Upper Glauconitic horizontal play on 7 sections of interest land
- Recomplete the existing Ellerslie hz gas well at 20 metre intervals vs the current 100 metre intervals
- Significant facilities and gas gathering system ownership
Ante Creek/Goose River
- Current net production is 98 BOE/day from 6.5 net (7 gross) wells, plus ~6 BOE/day of royalty volumes
- Upside to infill drill the Wabamun
- Existing vertical well commenced production at 250 Bbls/day and has produced 226 MBbls
- Potential to horizontally drill on Sections 21 and 28-67-22 W5M
- Upside to develop the Paddy (Viking equivalent)
- Offset well produced 4.6 Bcf from 1,200 metres depth
- Upside to develop the Debolt and Gething
- Significant facilities and gas gathering system ownership
- Potential water disposal project using existing wells and infrastructure
Pembina
- Current net production is 57 BOE/day from 4.5 net wells
- 75% average working interest in 20.5 sections of land
- Glauconitic marine bar potential in 49-03 W5M
- Lithic Glauconitic Channel play in 48-03 W5M for horizontal well in low permeability/porosity sand
- Single well battery facilities and gas gathering system ownership
Crooked Creek/Puskwa
- Current net production is 135 BOE/day from 1.5 net (5 gross) wells, plus 1 Bbl/day of royalty volumes
- Upside to vertically infill drill the Beaverhill Lake (4.5 sections of interest land within pool outlines)
- Overall property operating costs are $11/BOE including the non-producing wells
- Multi-zone potential (Montney, Beaverhill Lake, Duvernay)
- 18% to 100% in 9.25 sections of interest land and available Crown land in the area
Sunrise
- Paramount holds 100% working interests in 6 sections of land
- Multi-zone potential, including Dunvegan and Paddy-Cadotte
- 5 standing wells awaiting recompletion and short tie-ins to area infrastructure
- Year-round access and excess processing capacity available
Cutbank
- Paramount holds an average 57% working interest in 20 units of contiguous operated land
- Completed interest well with multi-zone potential in Conventional Montney turbidite reservoir, Tupper-type Upper Montney unconventional shale gas reservoir, Thick Doig and Halfway reservoir sandstones uphole
- Develop the Montney and Doig horizontally in the area (on interest land and available Crown land)
- 3-D seismic is available
- Lease upgraded for year-round access (including bridge and road) and good access to infrastructure in the area
Prospective purchasers wishing to access more detailed offering information on the properties are requested to contact Darryl Derouin at (403) 781-7041, or email info@cbsecurities.com.