Founder and chairperson of Canadian natural gas resources firm Paramount Resources, Clayton Riddell, has died at 81.
An icon of the Canadian oil patch, Riddell was a fervent advocate for the responsible development of Canada's natural resources and he epitomised the entrepreneurial spirit, the company said on the weekend, noting that he was also a committed philanthropist.
Riddell enjoyed a storied career that spanned nearly six decades. In 1976, he laid the foundation of Paramount and took the company public two years later in December 1978.
"He was an incredible man with so many accomplishments," son and Paramount CEO Jim Riddell said. "He will be dearly missed."
Riddell received many accolades over the years, including being made an officer of the order of Canada in 2008. He was also inducted into the Calgary Business Hall of Fame (2006), the Canadian Petroleum Hall of Fame (2015) and the Canadian Business Hall of Fame (2017). Some of the industry awards he received include the J.C. Sproule Memorial Plaque from the Canadian Institute of Mining (1994), the Stanley Slipper gold medal from the Canadian Society of Petroleum Geologists (1999), the outstanding explorer award from the American Association of Petroleum Geologists (2004) and the Fraser Institute's T. Patrick Boyle Founder's Award (2012). He also received an honorary doctor of science degree from the University of Manitoba (2004), an honorary doctor of laws degree from Carleton University (2014), and an honorary degree from The Southern Alberta Institute of Technology (2017).