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.

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.

To contact the reporter on this story: Kevin Orland in Calgary at This email address is being protected from spambots. You need JavaScript enabled to view it.. To contact the editors responsible for this story: Simon Casey at This email address is being protected from spambots. You need JavaScript enabled to view it. Ramsey Al-Rikabi, Jasmine Ng.