Paramount Resources Ltd. announced a cash dividend of $0.15 per share payable on September 27th. The company also revealed its acquisition of over 167 sections of Montney rights in the Sinclair area of Alberta, strategically positioning itself for future gas production.
The Northwest Territories government has criticized Paramount Resources Ltd.’s remediation efforts following a spill at the Pointed Mountain Surge Pond in June 2022. The spill involved 4,000 cubic meters of fluids and the government has expressed concerns about the company’s use of emergency measures as a long-term solution. The company has also been accused of violating the Waters Act in 2018 and is now facing a lawsuit from the Acho Dene Koe First Nation for allegedly not honoring community benefit agreements.
