Ovintiv Inc. is strategically shedding its Anadarko assets in Oklahoma for a substantial $3 billion cash infusion from an undisclosed buyer. This divestiture, encompassing approximately 360,000 net acres, marks a pivotal moment for the energy producer, allowing it to sharpen its operational focus and inch closer to its debt reduction targets. The assets currently contribute around 90,000 barrels of oil equivalent per day to Ovintiv’s production, with a significant portion comprising oil, condensate, natural gas, and natural gas liquids.
“This transaction represents a significant milestone in streamlining our portfolio, achieving our debt objectives, and enhancing shareholder returns,” stated Brendan McCracken, Ovintiv’s President and CEO. He emphasized the company’s strong position in premium acreage within North America’s Permian and Montney regions, setting the stage for sustained shareholder value creation.
The deal is expected to close in early Q2 2026, with an effective date of January 1, 2026, contingent on customary closing conditions. Wells Fargo advised Ovintiv on the financial aspects of the transaction, while Kirkland & Ellis LLP provided legal counsel.
Ovintiv is slated to release its full-year and Q1 2026 guidance, along with an updated shareholder return framework, when it reports its Q4 and full-year 2025 results on February 23, 2026. This strategic move underscores Ovintiv’s commitment to optimizing its asset base and delivering enhanced returns to its investors. The company’s ongoing focus on core, high-value plays positions it well to navigate the dynamic energy landscape.
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