Paramount Sells Kaybob Properties for C$341 Million, Raises Production Target
Paramount Resources agreed to sell its Kaybob Properties to Outwest Energy for C$341 million, comprising C$198 million in cash and a 49% equity stake. It also raised its Willesden Green Duvernay plateau production target to 80,000 Boe/d by 2029.
Paramount Resources Ltd. released its third-quarter 2026 financial results and provided updated 2027 budget and production guidance. As part of a strategic shift, the company agreed to sell its Kaybob Properties to Outwest Energy for C$341 million, consisting of C$198 million in cash and a 49% equity stake in Outwest. This transaction is intended to simplify the company's operational footprint and allow for reinvestment into its Willesden Green Duvernay and Sinclair Montney assets.
Additionally, Paramount announced an accelerated expansion of its Willesden Green Duvernay development, raising its targeted plateau production level to 80,000 Boe/d by 2029.