Cavalier Energy Inc. is a private, Calgary-based, growth-oriented oilsands developer created in 2011. Paramount Resources Ltd. transferred its oilsands holdings to Cavalier as part of a corporate reorganization, and we’ve assumed responsibility for developing these leases and projects.
Cavalier holds over 300 sections representing approximately 200,000 net acres of Crown leases in the Western Athabasca region of Alberta, Canada. Approximately 1.25 billion barrels of probable undeveloped and best estimate economic contingent resources have been identified in the Grand Rapids oilsands formation on the Hoole property.* Our initial focus is developing the Hoole property, building on the $50 million that Paramount invested through land acquisitions, stratigraphic drilling, engineering studies, and environmental field programs in this area.
*Hoole volumes as per McDaniel report effective December 31, 2014. See forward looking statement advisory with disclosure on resource information and definitions.
To help ensure our success, we:
- Built a management team of experienced oilsands planning and development professionals
- Committed to resource recovery that maximizes benefits for the local economy, the province of Alberta, and our shareholders
- Conduct our operations in a manner that ensures the safety of employees and contractors, engages and is respectful of the local community, and minimizes environmental disturbance
Cavalier is currently a wholly owned subsidiary of Paramount.