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Paramount spins out oilsands business into separate company (Paramount-Oilsands)
CALGARY _ Paramount Resources Ltd. (TSX:POU) has reorganized its operations and plans to spin out its oilsands and bitumen businesses into a a new wholly owned subsidiary, Pixar Petroleum Corp.Paramount said Monday that William Roach, former CEO of oilsands operator UTS Energy, will become the new president and CEO of Pixar.James Riddell, Paramount`s president and chief executive, has been appointed the executive chairman of Pixar.The reorganization is being undertaken to create a focused, self-funding oilsands entity in order to accelerate the development of Paramount`s bitumen interests, the Calgary oil and...
Published By: Oilweek Magazine - 4 days ago
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