Ovintiv to buy oil-rich assets in Canada's Montney shale for $2.38-billion [Globe and Mail, The (Toronto, Canada)]
Ovintiv Inc. (DE) (OVV)
Last ovintiv inc. (de) earnings: 2/19 08:54 pm
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Source: Globe and Mail, The
increase announced a $2.38-billion all-cash acquisition of oil assets from Paramount Resources POU-T increase on Thursday, expanding its presence in Canada's Montney shale play. The shale formation, a 50,000-square-mile (32-million acre) area spanning northern Alberta and British Columbia, is considered one of Canada's most attractive oil and gas-producing regions due to its strong economics. “The assets come with ample midstream capacity, unlocking optionality for mid-single digit growth in our Montney volumes … with this acquisition, we have solidified our position as the premier operator in the play,” CEO Brendan McCracken said in a statement. The assets are located near Ovintiv's current operations and will add nearly 70,000 barrels of oil equivalent per day of production at the Montney formation in Alberta, along with about 900 net well locations. Upon the deal's completion, Ovintiv expects overall total annual production volumes of about 620,000 boepd as well as oil a
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News
- Ovintiv's Q3 Earnings Beat Estimates, Revenues Down 12% Y/Y [Yahoo! Finance]Yahoo! Finance
- Ovintiv Inc. (NYSE: OVV) had its price target raised by analysts at UBS Group AG from $57.00 to $59.00. They now have a "buy" rating on the stock.MarketBeat
- Ovintiv Inc. (NYSE: OVV) had its price target raised by analysts at Scotiabank from $50.00 to $53.00. They now have a "sector outperform" rating on the stock.MarketBeat
- Ovintiv's Twin Deals: What Are the Key Takeaways for Investors? [Yahoo! Finance]Yahoo! Finance
- Ovintiv Inc. (NYSE: OVV) had its price target raised by analysts at Truist Financial Co. from $57.00 to $59.00. They now have a "buy" rating on the stock.MarketBeat
OVV
Earnings
- 11/7/24 - Beat
OVV
Sec Filings
- 11/20/24 - Form 4
- 11/20/24 - Form 4
- 11/20/24 - Form 4
- OVV's page on the SEC website