Ovintiv buying Montney assets from Paramount for US$2.38 billion [Yahoo! Finance Canada]
Ovintiv Inc. (DE) (OVV)
Last ovintiv inc. (de) earnings: 2/19 08:54 pm
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Source: Yahoo! Finance Canada
The deal will add about 70,000 barrels of oil equivalent per day of production. Ovintiv says the assets are strategically located near its current operations and have access to midstream infrastructure with available capacity. Ovintiv chief executive Brendan McCracken says the acquisition is the result of an in-depth technical and commercial analysis of the basin to identify the highest value undeveloped oil resource. The company also announced it has signed a deal to sell substantially all of its Uinta Basin assets in Utah, to FourPoint Resources, LLC, for total cash proceeds of about US$2.0 billion. Cash from the Uinta deal is expected to be used to help fund the Montney acquisition. This report by The Canadian Press was first published Nov. 14, 2024. Companies in this story: (TSX:OVV, TSX:POU) The Canadian Press Recommended Stories
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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