Paramount Resources

{{Short description|Canadian petroleum company}}

{{Use mdy dates|date=May 2020}}

{{Infobox company

| name = Paramount Resources Ltd.

| logo = Paramount_Resources_Logo.svg

| type = Public

| traded_as = {{tsx|POU}}

| genre =

| foundation = 1976{{cite web|url=http://www.paramountres.com/about-us |title=About Us |author= |publisher=Paramount Resources |date= |accessdate=2019-05-07}}

| founder = Clayton H. Riddell

| location_city = Calgary, Alberta

| location_country = Canada

| location =

| locations =

| area_served =

| key_people = Jim Riddell (President and CEO)
Bernard Lee (Executive Vice President){{cite web|url=http://www.paramountres.com/contact-us |title=Contact Us |author= |publisher=Paramount Resources |date= |accessdate=2019-05-07}}

| industry = Conventional Oil & Natural Gas

| products =

| services =

| revenue = {{Decrease}} C$1.80 billion

| operating_income =

| net_income = {{Decrease}} C$470.2 million

| assets = {{Increase}} C$4.34 billion

| equity =

| owner =

| num_employees = 455{{cite web|url=https://www.paramountres.com/content/uploads/2024/03/PRL-2023-AIF-SEDAR.pdf |title=2023 Annual Report |author= |publisher=Paramount Resources |date=March 2024 |accessdate=2024-04-25}}

| parent =

| divisions =

| subsid =

| homepage = {{URL|www.paramountres.com}}

| footnotes =

| intl =

}}

Paramount Resources Ltd. is a Canadian petroleum company, founded in 1976. The company is involved in the exploration, development, production, processing, transportation and marketing of natural gas and its byproducts and crude oil. The company was founded by Clay Riddell.{{cite web|title=The world's Billionairies: #1006 Clayton Riddell|url=https://www.forbes.com/profile/clayton-riddell/|work=Forbes|accessdate=4 December 2015}}

In addition to its own name, Paramount has several subsidiaries with names resembling those of Hollywood companies, including Fox Drilling, Summit Resources, and Pixar Petroleum. It also retains significant investment in MGM Energy, which it spun off in 2007.{{cite news |title=Walt Disney Stakes Claim After Oil Firm Adopts Famous Name |first=Erica |last=Orden |url=https://www.wsj.com/articles/SB10001424052970204397704577070742149431120 |newspaper=The Wall Street Journal |date=2011-12-02 |accessdate=2011-12-04}}

In 2017, Paramount acquired Apache Canada Ltd. for C$459.5 million and merged with Trilogy Energy Corp which itself was originally spun-off from Paramount.{{cite news | url=https://beta.theglobeandmail.com/report-on-business/paramount-resources-to-buy-apache-oil-sands-assets-for-459-million/article35581223/ | title=Apache joins foreign exit from Canada's energy sector | first=Kelly | last=Cryderman | newspaper=The Globe and Mail | date=July 6, 2017 | archiveurl=https://web.archive.org/web/20191222161833/https://beta.theglobeandmail.com/report-on-business/paramount-resources-to-buy-apache-oil-sands-assets-for-459-million/article35581223/ | archivedate=2019-12-22 | accessdate=2020-03-20}}

In January 2023, Paramount divested assets in the Kaybob Region near Fox Creek, Alberta to Crescent Point Energy for net cash of C$370.0 million.

Paramount reported an output of 96,393 barrels of oil equivalent per day (BOE/D) in its 2023 annual report, published in March 2024.