Powered by

Paramount Resources closes C$470M sale of Canadian natural gas facility

Aug 02, 2019 - SNL Energy Finance Daily
Mergers and Acquisitions

Paramount Resources Ltd. completed the divestment of its Karr 6-18 natural gas facility and related midstream assets in Canada to CSV Midstream Solutions Corp. for about C$470 million.

The deal amount consists of about C$330 million in cash and a C$140 million capital commitment that will be allotted for expanding the Karr 6-18 facility, according to an Aug. 1 news release. The expansion, once completed in the second half of 2020, will increase the facility's total raw gas handling capacit...