Paramount Resources Trims Stake in NuVista Energy for C$75 Mln

Dow Jones04-12

By Robb M. Stewart

Paramount Resources sold a chunk of its investment in oil and gas producer NuVista Energy, raking in 75 million Canadian dollars ($5.8 million).

The Calgary, Alberta natural gas company said Friday it sold 6 million NuVista shares a day earlier in a block trade at C$12.50 each, just ahead of the C$12.42 closing price for the stock on Thursday. NuVista's shares have risen just over 12% so far in 2024.

The disposal trims Paramount's holding to 15.2% from almost 18.1% previously.

Paramount said the sale was to monetize a portion of the NuVista investment.

Write to Robb M. Stewart at robb.stewart@wsj.com

(END) Dow Jones Newswires

April 12, 2024 07:18 ET (11:18 GMT)

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