Paramount Pipeline Project
Paramount Resources is building a 7km pipeline in the Deep Basin in Alberta. The project will connect a compressor to a well pad.
The Deep Basin assets provide short-cycle development opportunities with high return potential. The Elmworth gas field is located within the Deep basin near Grande Prairie, Alberta. The Deep basin covers about 26,000 sq miles and appears to contain an enormous amount of gas in different-quality rocks. Masters1 has estimated the Deep basin could contain more than 400 Tcf of gas, recoverable at various levels of price and technology.
Paramount Pipeline Map
Paramount Compressor Station
The Importance of Transportation Contaminated Soil Removal
About the Deep Basin
The Deep Basin gas system in the WCSB (Western Canada SedimAbout entary Basin) has been recognized by the industry for over two decades. First documented and published by Masters (1979) and Gies (1984), they suggested that the potential gas resource could exceed 400Tcf (trillion cubic feet). The petroleum industry has continued to exploit those resources since the 80’s, however, far from reaching the 400Tcf discovery gas mark.
The Deep Basin region is the largest with 40,000 square miles and one of very few growth areas in the WCSB. Its plays in aggregate, accounted for 19% of all 2007 WCSB output.
About Paramount Resources
Paramount Resources’ paramount business is discovery and development of natural gas assets, which accounts for 75% of its production. The company explores for, develops, processes, markets, and transports natural gas and petroleum. It has interests in more than 2.3 million gross acres, primarily in Alberta and elsewhere in Western Canada (the Northwest Territories and British Columbia) and the US (Montana an North Dakota). Paramount Resources has proved plus probable reserves of about 36.4 million barrels of oil equivalent. In 2010 the company acquired oil firm Redcliffe Exploration, and in 2011, Prospex Resources. Company management, led by chairman and CEO Clayton Riddell, controls Paramount Resources.
The company’s multi-layered strategy includes developing conventional oil and gas finds in its core producing areas (such as Kaybob and Grand Prairie in West and Central Alberta), while investing in long term development properties (such as oil sands projects in Northeast Alberta). Paramount Resources is also developing an investment portfolio of oil and gas companies by taking minor stakes in exploration and production firms. Strategic investments in 2008 included oil and gas firms Trilogy (23%) and MGM Energy (17%) and a minority stake in greenhouse gas technology company Paxton Corp.