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Bloomberg: Paramount Resources explores midstream asset options

Dec. 08, 2015 2:42 PM ETParamount Resources Ltd. (PRMRF) Stock, POU:CA StockFCGYF, PRMRF, PBABy: Carl Surran, SA News Editor
  • 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.

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