Clayton H. Riddell
CEO Paramount Resources Ltd.
The late Clayton H. Riddell
Born near Treherne, Manitoba, Clayton H. Riddell grew up in Winnipeg, graduating from the University of Manitoba in 1959 (BSc Geology).
His career began with Chevron, but by 1969 the entrepreneurial spirit took over. Through exploration and development in northeastern Alberta, financed by joint venture partners, Clay accumulated the assets necessary to establish Paramount Resources Ltd. in 1978.
Conducting operations beyond the ends of pipelines became the Paramount business model and is still evident today with Paramount’s activities, including the Athabasca Oil Sands and the Cameron Hills, Liard and Colville Lake areas of the Northwest Territories.
Between 2003 and 2005, Paramount spun off two new public entities, Paramount Energy Trust and Trilogy Energy Trust, providing a tax-efficient income stream to Paramount shareholders. In 2007, Paramount spun out MGM Energy Corp. to explore and develop hydrocarbon resources in the Mackenzie Valley and Mackenzie Delta.
Mr. Riddell served on several scientific, industry and other volunteer boards, including as president of the Canadian Society of Petroleum Geologists and chairman of the Canadian Association of Petroleum Producers. Mr. Riddell had significant interest in several business trusts, including restaurants, thoroughbred horse racing and the Calgary Flames.
Mr. Riddell received an Honorary Doctor of Science degree from the University of Manitoba, the J.C. Sproule award and the Outstanding Explorer award from the American Association of Petroleum Geologists. Various business awards have recognized his entrepreneurial success.
The Faculty of Environment, Earth, and Resources at the University of Manitoba has recently been renamed the Clayton H. Riddell Faculty of Environment, Earth, and Resources.
In 2006, Mr. Riddell was inducted into the Calgary Business Hall of Fame and, in 2008, he was made an Officer of the Order of Canada. In 2014, Carleton University awarded Mr. Riddell the degree of Doctor Of Laws, honoris causa, “in recognition of his brilliant career in business and his thoughtful contributions to higher education as well as to good governance in Canada.” Mr. Riddell passed away in Calgary on Sept. 15, 2018.