Paramount Resources Announces Term Loan Facility, Credit Facility Extension, Sale of its Remaining Investment in NuVista Energy and Operations Update

Executive Summary

• Paramount Resources secured a $250 million delayed‑draw term loan facility with Export Development Canada and extended its $500 million senior secured revolving credit facility to Dec 15, 2029.
• The company sold its remaining stake in NuVista Energy, raising cash and cash equivalents to ~​$800 million (total liquidity ≈ $750 million undrawn).
• Operations update shows Q4 2025 production averaging > 45,000 Boe/d with 2025 capital spend expected at the low end of guidance ($795‑$825 M) and plans to double sales volumes to > 100,000 Boe/d by year‑end 2027.

Key Details

• Term Loan Facility
• Amount: up to $250 million (delayed draw).
• Term: 5 years; draws permitted through Dec 16, 2027.
• Maturity: Dec 15, 2030; non‑revolving, non‑amortizing, prepayable without penalty.

• Security: second charge over substantially all assets.

• Syndicated Credit Facility

• Original size: $500 million senior secured revolving facility.
• Maturity extended to Dec 15, 2029.
• Accordion feature allows increase up to $750 million pending lender commitments and achievement of ≥ 55,000 Boe/d average production for two consecutive quarters.

• First‑charge security over substantially all assets; financial‑covenant based.

• Sale of NuVista Energy Investment

• Completed sale of remaining shares in NuVista Energy Ltd.

• Cash and cash equivalents increased to approximately $800 million as of Nov 30, 2025.

• Liquidity Position

• Total available liquidity (cash + undrawn facilities) ≈ $750 million.

• Q4 Production & Guidance

• October‑November average sales: ~45,700 Boe/d (52% liquids).
• December production to date remains strong; full‑year 2025 sales expected at high end of guidance (41,000‑42,000 Boe/d, 47% liquids).

• Expected 2025 capital expenditures: $795‑$825 million (low end of range).

• Willesden Green (Duvernay)

• Oct‑Nov average sales: ~23,900 Boe/d (62% liquids), >10,000 Boe/d above Q3.

• New Alhambra Plant on‑streamed four net wells in Oct, one net well in Nov, one net well in Dec.

• Leafland Plant

• Three net wells brought on‑stream in late November.

• Sinclair (Montney)

• Extended flow test of first two Montney appraisal wells completed Q4.
• Drilling of second pilot pad (two net Montney appraisal wells) finished; completion/testing slated for Q2 2026.
• Sinclair Plant design in final stages – capacity up to 400 MMcf/d raw gas.

• Contracted firm service sales of 335 MMcf/d commencing Q4 2027 to align with plant start‑up.

• Future Sales Volume Outlook

• Target: >100,000 Boe/d (35% liquids) by end‑2027, representing more than double current volumes.

Notable Quotes

(No direct quotes were provided in the release.)