Ovintiv’s vision is to be the leading North American resource play company, known for our operational excellence, top tier assets, market fundamentals and strategic resource allocation.
NOTES:
Ovintiv has reached a deal with two counterparties to divest a portion of its holdings in the Uinta and Bakken Basins for $250 million. Combined production from the sold assets is 5 Mboe/d, including 4.9 Mbbl/d of oil and condensate. Closing is targeted for 3Q22.
The Uinta position covers 3,000 gross vertical wells and that are primarily mature waterflood assets. Ovintiv will retain 130,000 contiguous acres in the horizontal oil-rich portion of the play.
The Bakken sale includes 88 wells, which are mainly in Richland County, Montana.
NOTES:
Ovintiv has reached a deal to divest their Duvernay assets for $263 million, which included 10 Mboe/d in fourth quarter 2020 production. Closing is targeted for the second quarter of 2021.