Ovintiv Closes $2.85 Billion Sale of Its Anadarko Assets, Oklahoma
[Click image to enlarge]
Ovintiv has closed on the all cash sale of its Anadarko assets, located in Oklahoma, for $3 billion. After customary closing adjustments, proceeds from the sale are expected to total approximately $2.85 billion.
“The Anadarko sale completes the transformation of our portfolio and our balance sheet. Proceeds from the sale will go to debt reduction, marking the achievement of our debt target and unlocking returns for our shareholders,” said Ovintiv President and CEO, Brendan McCracken.
The sale includes approximately 360 thousand net acres, which represents substantially all of the company’s acreage in the play. Month to date production in February is approximately 90 thousand barrels of oil equivalent per day including approximately 27 thousand barrels per day of oil and condensate, approximately 240 million cubic feet per day of natural gas and approximately 23 thousand barrels per day of natural gas liquids.
Ovintiv together with its subsidiaries, explores, develops, produces, and markets natural gas, oil, and natural gas liquids in North America. It has a portfolio of contiguous positions in the Permian and Anadarko basins, and the Montney.
Be in-the-know when you’re on-the-go!
FREE eNews delivery service to your email twice-weekly. With a focus on lead-driven news, our news service will help you develop new business contacts on an on-going basis.
CLICK HERE to register your email address.
Copyright © 2026 Mining Connection LLC. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
For licensing permission, .(JavaScript must be enabled to view this email address)
