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State: 27.04.2025 | 6PM
Wed, 05.03.2025       Paramount Resources
CA6993202069

CALGARY, AB, March 5, 2025 /CNW/ - Paramount Resources Ltd. ("Paramount" or the "Company") (TSX: POU) is pleased to announce its 2024 annual financial and operating results. 

RECENT EVENTS

On January 31, 2025, Paramount closed the sale of its Karr, Wapiti and Zama properties to a wholly-owned subsidiary of Ovintiv Inc. ("Ovintiv") for cash proceeds of approximately $3.3 billion, after adjustments, plus certain Horn River Basin properties of Ovintiv (the "Grande Prairie Disposition").The Company used a portion of the proceeds of the Grande Prairie Disposition to pay a special cash distribution (the "Special Distribution") of $15.00 per class A common share ("Common Share") to shareholders on February 14, 2025 comprised of a return of capital of $12.00 per Common Share and a special dividend of $3.00 per Common Share.Paramount repurchased a total of 5.7 million Common Shares under its normal course issuer bid between late-November 2024 and early-February 2025 at a total cost of $177 million.
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