- Canadian natural gas producer Paramount Resources (OTCPK:PRMRF) is exploring options for its midstream assets including a possible sale, and is working with Royal Bank of Canada on potential sales or partnerships for facilities that include gas processing plants, Bloomberg reports.
- Potential bidders could include the new midstream venture between Canada Pension Plan Investment Board and Wolf Infrastructure, as well as Apollo Global Management, or publicly traded Pembina Pipeline (NYSE:PBA) and Veresen (OTC:FCGYF), according to the report.
- Paramount's debt is expected to rise to 18x cash flow this year, says Raymond James analyst Kurt Molnar, who downgrades shares to Outperform from Strong Buy.