The Globe and Mail reports in its Tuesday edition that Kelsey Dunwoodie at Deans Knight Capital Management in Vancouver is keen on Paramount Resources. The Globe's Brenda Bouw writes that the Calgary-based energy producer is a stock that Deans Knight has owned since 1998 and have been adding to regularly. "It's one of our core positions," Ms. Dunwoodie said. "The Riddell family, Paramount's founders and largest shareholders, have a track record of exploring and building oil and gas fields in Western Canada. The management team has a deep history of creating value. Last year, Paramount closed a deal to sell more than half of its production to Denver-based Ovintiv [for $3.3-billion], creating significant value for shareholders, including a special dividend payment. It then embarked on a plan to bring its production back to about 100,000 barrels [by 2027]. The company also owns land, service companies and energy equities, which are often misunderstood and undervalued by the market. Paramount and the Riddell family have found success in going where others can't or won't. Over the longer term, the company's consistent track record of building and selling assets has created substantial value for patient shareholders."
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