Paramount’s own drilling company to handle majority of its 2018 oil and gas wells

Image: Paramount Resources

Unlike the majority of oil and gas producers, Paramount Resources owns its own drilling fleet.

This year that company, Fox Drilling, is expected to handle the majority of Paramount’s drilling operations.

Paramount has a 2018 capital program of $600 million that includes drilling of 77 wells or approximately 2,500 drilling days. The company estimates that the Fox fleet can accommodate about 1,900 or 76 percent of those days.

Based in Lethbridge, Alta., Fox owns seven triple-sized rigs that feature pad walking capabilities.

Paramount will focus 2018 drilling primarily in the Montney play, with 54 of 77 planned wells. The Duvernay play will also see investment, with 15 wells, followed by 2 wells in central Alberta and 6 wells listed under “other.”

Paramount has also contracted a dedicated frac unit for all of 2018 in order “to achieve efficient and timely well completions.” Additional frac units will be contracted as required throughout the year.