Canadian energy company Paramount Resources Ltd said on Thursday that it would buy subsidiaries of U.S. oil and gas producer Apache Corp for C$459.5 million. ($353.7 million USD)
The company would buy Apache's subsidiary, Apache Canada Ltd, and fund the deal with cash on hand and no debt. Paramount said it entered into a merger agreement with petroleum and natural gas company Trilogy Energy Corp , in which the company would buy the remaining 85 percent of the common shares and non-voting shares of Trilogy. (Reporting by Aishwarya Venugopal in Bengaluru; Editing by Peter Cooney and Bill Trott)