By Tyler Losier, Energy Reporter, Oil & Gas 360

Paramount Resources completes divestiture of its Karr 6-18 facility to CSV Midstream Solutions
Paramount Resources Limited, a liquids-focused independent E&P based in Calgary, has completed the sale of its Karr 6-18 natural gas facility to CSV Midstream Solutions for a total of approximately $470 million.

The consideration includes approximately $330 million in cash, plus $140 million in capital commitments to fund and complete a planned expansion of the facility. Proceeds from the transaction will be used by Paramount to reduce amounts drawn on the company’s $1.5 billion bank credit facility, which totaled $827.3 million as at March 31, 2019.

 

The Karr 6-18 natu...


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