Ovintiv Inc.
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About
Ovintiv Inc. is a North American energy producer focused on developing its multi-basin portfolio of oil, natural gas liquids and natural gas producing plays.
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News
Ovintiv Swaps the Uinta for Montney in Multiple M&A Moves
Ovintiv is expanding greatly in the Canadian Montney Shale play through a US$2.38 billion deal with Paramount Resources and exiting the newly booming Uinta Basin in Utah with a $2 billion sale to FourPoint Resources.
CEO: Ovintiv Passes on Permian Prices for More Montney Condensate
Rumored to be a potential buyer in the Permian Basin, Ovintiv instead struck a deal for lower-cost oil and condensate assets in Alberta’s Montney Shale.
Lime Rock CEO: Small, Mid Cap E&Ps Stuck in M&A ‘No Man’s Land’
Eric Mullins said that as large-scale M&A players begin to rationalize their purchases, as much as $18 billion in non-core divestments could find homes to asset-hungry acquirers.
As Permian Targets Grow Scarce, 3Q M&A Drops to $12B—Enverus
Upstream M&A activity fell sharply in the third quarter as public consolidation slowed and Permian Basin targets dwindled, according to Enverus Intelligence Research.
Now, the Uinta: Drillers are Taking Utah’s Oily Stacked Pay Horizontal, at Last
Recently unconstrained by new rail capacity, operators are now putting laterals into the oily, western side of this long-producing basin that comes with little associated gas and little water, making it compete with the Permian Basin.
Ovintiv to Divest Permian Assets Amidst M&A Rumors
Ovintiv is marketing assets in the Permian Basin amidst rumors that the Denver-based E&P is looking to join in on the M&A frenzy.
With Montney Production Set to Grow, US E&Ps Seize Opportunities
Canada’s Montney Shale play has already attracted U.S. companies Ovintiv, Murphy and ConocoPhillips while others, including private equity firms, continue to weigh their options.
Trauber: Inventory Drives M&A, But E&Ps Also Vying for Relevancy
Legendary dealmaker Stephen Trauber keeps his eyes open for out of the box ideas: Why not a BP-Shell merger? Or Chevon and ConocoPhillips?Â
Mach Taps Equity Markets to Fund $136MM in Midcontinent M&A
Mach Natural Resources is offering to sell common units to fund two pending acquisitions in the Ardmore and Anadarko basins.
Midcon Momentum: SCOOP/STACK Plays, New Zones Draw Interest
The past decade has been difficult for the Midcontinent, where E&Ps went bankrupt and pulled back drilling activity. But bountiful oil, gas and NGL resources remain untapped across the Anadarko, the SCOOP/STACK plays and emerging zones around the region.
Why Buying Double Eagle Does (and Doesn’t) Make Sense for Ovintiv
Proceeds from an Ovintiv divestiture in the Uinta Basin could help fund a deal for Double Eagle’s Midland Basin assets, but analysts say the money could just as easily be used for debt reduction.
E&P Highlights: Aug. 26, 2024
Here’s a roundup of the latest E&P headlines, with Ovintiv considering selling its Uinta assets and drilling operations beginning at the Anchois project offshore Morocco.
CEO: Berry Seeks Horizontal Drilling Opportunities in Uinta Basin
Berry Corp., which has a large footprint in California’s San Joaquin Basin, might be more excited about deals and drilling near its Uinta Basin acreage.
Tourmaline’s $950MM Crew Energy M&A Drills Deeper In Montney
Tourmaline Oil is adding high-quality drilling locations in Canada’s Montney Shale with the CA$1.3 billion (US$950 million) acquisition of Crew Energy Inc.
Ovintiv to Boost 2024 Free Cash Flow to Nearly $2B
Ovintiv management reported its on track to generate $1.9 billion in 2024 free cash flow but skirted a question about the company’s possible pursuit of Midland Basin E&P Double Eagle.