On July 6, Paramount Resources Ltd. announced an agreement to sell 310 net sections of properties in the Musreau/Kakwa area of Alberta to Seven Generations Energy in a deal valued at $1.9-billion. Sale proceeds will initially be used to develop Paramount Resources' existing liquids-rich natural gas Karr/Gold Creek property. Following the news, insiders of Paramount spent more than $60-million buying shares in the market. Between July 8 and July 12, chairman and chief executive Clayton Riddell bought 5.12 million shares while director David Knott bought 150,000 shares.
Ted Dixon is CEO of INK Research, which provides insider news and knowledge to investors. For more background on insider reporting in Canada, visit the FAQ section. Securities referenced in this profile may have already appeared in recent reports distributed to INK subscribers. INK staff may also hold a position in profiled securities.
Infographic reflects public-market transactions of common shares or unit trusts by company officers and directors.