Oil Magnate, Calgary Flames Co-Owner Riddell Dies at Age 81

(Bloomberg) -- Clayton Riddell, who founded Canadian oil company Paramount Resources Ltd. and co-owned the NHL’s Calgary Flames ice hockey team, has died. He was 81.

Riddell died on Saturday after a short illness, according to a statement from the Calgary-based company, which he founded in 1976 and took public two years later. His son, Jim Riddell, is the current chief executive officer.

Oil Magnate, Calgary Flames Co-Owner Riddell Dies at Age 81

Paramount last year doubled down on Canadian resources as international companies pulled out, buying Apache Corp.’s assets in Alberta and British Columbia for about C$460 million ($353 million).

Riddell served as chairman at Paramount, as well as at Perpetual Energy Inc., which was spun out from Paramount in 2002. He became a part owner of the National Hockey League’s Calgary Flames in 2003.

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