Paramount recently released some mineral rights from confidential status, which it press released in its Q3 report. The company cited 20 new or previously confidential sections of Montney rights at Karr/Wapiti. These mineral rights transfers were also picked up by BOE Intel.
The location of Paramount’s new 20 net sections are particularly interesting as they surround one of the more expensive parcels of Crown land sold in recent years. That land sale saw 32 sections go for $45.3 MM ($1.4 MM/section) back on the August 9, 2023 Crown land sale and are currently held by a land broker. While the true owner of those 32 sections is still a mystery, we also noted that Shell had recently revealed new mineral rights in the area as well.
In our BOE Intel asset transfers and activity map below, we show Crown mineral rights (all zones) around Grande Prairie held by Paramount (yellow), as well as Paramount’s newly disclosed mineral rights (purple). Also pictured is the location of the 32 section parcel from the August 9th land sale (blue).
The Alberta Montney continues to be one of the more intriguing areas in Western Canada with several recent M&A transactions over the last year and a half. BOE Intel allows users to follow along with all of the activity and asset transfers in the area, along with detailed company financial and production information. Reach out here for a demo.