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Paramount Resources history
Paramount Resources company history timeline
In 1982, the company’s asset value was an estimated $80 million.
The first half of 1999 oil prices shot upward, taking the stock of oil and gas companies along for the ride.
Riddell owned 48.5 percent of Paramount Resources, which generated $391.5 million in revenue during 2000.
By the end of 2001, Riddell had built a fortune valued around $500 million, according to Canadian Business.
In 2001, Conoco had bought Gulf Canada, developer of the $1.3 billion oil sands project, and played a role in the deal, according to the Oil Daily.
“Producers Paid to End Dispute,” Oil Daily, March 1, 2002.
In 2003, after more than 20 years of successful exploration and development on the Northeast Alberta shallow gas trends, Clay and Paramount Resources successfully created a new public entity, Paramount Energy Trust.
The strong oil sector increased Clay Riddell’s net worth by more than 88 percent in 2005.
In January 2007 Paramount created MGM Energy Corp., spinning out far northern exploratory properties.
Riddell was inducted into the Calgary Business Hall of Fame and in 2008 he was made an Officer of the Order of Canada.
From a speech Clay gave in 2012: “What does a kid from Winnipeg know about starting and running a public oil and gas company – not much.
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Zippia gives an in-depth look into the details of Paramount Resources, including salaries, political affiliations, employee data, and more, in order to inform job seekers about Paramount Resources. The employee data is based on information from people who have self-reported their past or current employments at Paramount Resources. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by Paramount Resources. The data presented on this page does not represent the view of Paramount Resources and its employees or that of Zippia.
Paramount Resources may also be known as or be related to PARAMOUNT RESOURCES, PARAMOUNT RESOURCES LTD and Paramount Resources.