Ovintiv – Oil & Gas 360

Ovintiv closes $2.3 billion acquisition of Montney assets in Alberta

February 3, 2025

(World Oil) – Ovintiv has closed its previously announced acquisition of certain Montney assets from Paramount Resources Ltd. The acquisition adds approximately 70 thousand barrels of oil equivalent per day (MBOE/d) of production, 900 net 10,000 foot equivalent well locations, and approximately 109,000 net acres of land, strategically located near the Ovintiv’s current Montney operations with ample access to midstream infrastructure

Ovintiv strengthens portfolio with core oil-rich Montney asset acquisition

November 14, 2024

(Oil & Gas 360) – Transaction to Significantly Expand Existing Montney Premium Oil Inventory, Company to Exit Uinta Basin with Asset Sale Highlights: Agreement reached to acquire approximately 109,000 net acres and approximately 70 thousand barrels of oil equivalent per day (“MBOE/d”) in the core of the Alberta Montney for $2.377 billion (C$3.325 billion) Acquisition will add approximately 900 total

Ovintiv explores $2 billion Uinta basin business sale to focus on Permian shale operations

August 22, 2024

World Oil (Bloomberg) – Ovintiv Inc. is considering a possible sale of its operations in the Uinta basin, which could fetch as much as $2 billion, people with knowledge of the matter said. Denver-based Ovintiv is working with an adviser to gauge buyer interest in the asset, the people said, asking not to be identified discussing confidential information. Ovintiv’s operations

Shale drilling Ovintiv increases 2024 oil and gas production target on unexpected Permian success

August 1, 2024

World Oil (Bloomberg) – Shale driller Ovintiv Inc. increased its 2024 production target, the second oil and gas company to do so this year. The company expects to pump the equivalent of 570,000 to 580,000 bbl of crude this year, compared with the previous forecast of 545,000 to 575,000, according to a statement. At the mid ranges of those targets,

Ovintiv closes Midland basin acquisition for over $4 billion, completes Bakken asset sale for $825 million

June 13, 2023

World Oil (WO) – Ovintiv Inc. closed the previously announced acquisition of core Midland Basin assets, adding approximately 1,050 net 10,000 foot well locations and approximately 65,000 net acres of largely undeveloped land adjacent to Ovintiv’s existing Permian operations. The company has acquired all the leasehold interest and related assets of Black Swan Oil & Gas, PetroLegacy Energy and Piedra

Ovintiv to acquire core Midland Basin assets

April 3, 2023

Oil and Gas 360 Transaction Expands Permian Premium Inventory, Enhances Shareholder Returns Company to Exit Bakken Position with Announced Asset Sale Highlights: Acquiring approximately 65,000 net acres of largely undeveloped resource in Martin and Andrews Counties, highly complementary with Ovintiv’s existing Permian Basin position Valued at approximately 2.8 times next twelve months (“NTM”) Adjusted EBITDA with a 19% NTM

Ovintiv to accelerate doubling of shareholder returns; announces agreements to sell portions of its Uinta and Bakken assets for approximately $250 million

July 6, 2022

Oil and Gas 360 DENVER, July 6, 2022 /CNW/ – Ovintiv Inc. (NYSE: OVV) (TSX: OVV) today announced it has reached agreements with two counterparties to sell portions of its assets located in the Uinta and Bakken Basins for total proceeds of approximately $250 million. As a result of these agreements and continued strong financial and operational results, Ovintiv has elected to accelerate

Ovintiv exceeds divestiture target, announces Eagle Ford sale and updates guidance

March 25, 2021

Oil and Gas 360 DENVER, March 24, 2021 /CNW/ – Ovintiv Inc. (NYSE: OVV) (TSX: OVV) today announced the signing of an agreement to sell its Eagle Ford assets to Validus Energy for $880 million. With this sale, the Company has exceeded its divesture target and, with other items, now anticipates year-end 2021 debt to be below $5 billion using its 2021 planning price deck of $50 WTI

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