Add-on Acquisition • Oil/Gas Exploration

Paramount Resources Acquires ProspEx Resources

On May 31, 2011, Paramount Resources acquired oil/gas exploration company ProspEx Resources for 140M USD

Acquisition Context
  • This is Paramount Resources’ 2nd transaction in the Oil/Gas Exploration sector.
  • This is Paramount Resources’ largest (disclosed) transaction.
  • This is Paramount Resources’ 2nd transaction in Canada.
  • This is Paramount Resources’ 2nd transaction in Alberta.

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M&A Deal Summary

Date May 31, 2011
Target ProspEx Resources
Sector Oil/Gas Exploration
Buyer(s) Paramount Resources
Deal Type Add-on Acquisition
Deal Value 140M USD
Advisor(s) Cormark Securities (Financial)

Target Company

ProspEx Resources

Calgary, Alberta, Canada
ProspEx Resources Ltd., a junior oil and gas company, engages in the exploration and development of natural gas assets in the Deep Basin and West Central Alberta in Canada.
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Buyer Overview 1

Buyer

Paramount Resources

Calgary, Alberta, Canada

Category Company
Founded 1976
Sector Oil/Gas Exploration
Employees566
Revenue 2.1B CAD (2024)
DESCRIPTION

Paramount Resources is a oil and natural gas exploration, development and production company with operations focused in Western Canada. Paramount Resources was incorporated in 1976 and is headquartered in Calgary, Alberta.


Deal Context for Buyer #
Overall 2 of 3
Sector: Oil/Gas Exploration 2 of 2
Type: Add-on Acquisition 2 of 3
State: Alberta 2 of 3
Country: Canada 2 of 3
Year: 2011 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-06-01 Redcliffe Exploration

Calgary, Alberta, Canada

Redcliffe Exploration, Inc. is an oil and gas exploration service provider.

Buy $68M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-03-17 Paramount Resources - Natural Gas Processing Assets

Paramount Resources - Natural Gas Processing Assets includes gathering pipelines, sales gas pipeline and future disposal wells.

Sell $556M