FourPoint Resources Closes $2 Billion Acquisition of Ovintiv’s Uinta Basin Assets
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Ovintiv has closed on the sale of all its Uinta assets, located in Utah, to FourPoint Resources for approximately $2 billion.
In December 2024, FourPoint Resources, together with their partners Quantum Capital Group and Kayne Anderson signed the purchase and sale agreement.
“The Uinta sale builds on our track record of unlocking significant value from our non-core assets while focusing our portfolio and extending inventory runway in our core areas,” said Ovintiv President and CEO, Brendan McCracken.
“The opportunity to partner with Quantum and Kayne Anderson, two of the premier private equity firms in energy, will allow our team to immediately begin the work to grow production, cash flow and create value on one of the highest quality, inventory-rich assets in the Lower 48,” said George Solich, chairman and chief executive officer of FourPoint.
“The Uinta Basin boasts a unique combination of attributes that make it an exceptional asset including several thousand feet of hydrocarbon-rich reservoirs, premium quality crude oil, and a long history of stakeholder alignment. Coupled with FourPoint’s commitment to operational excellence and responsible stewardship, this asset presents a remarkable opportunity to generate long-term value for our investors, employees, and the broader community,” said Eric Eichler, chief operating officer of FourPoint.
FourPoint Resources is a privately held acquisition, exploration and production company headquartered in Denver, Colorado managed and operated by FourPoint Energy.
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