Ovintiv Inc.
The X-News Explorer is the ultimate source of information for investors with an affinity for the stock market who want to get a quick and convenient overview of the current news situation of a listed company. Various newswire services are available here. If a news alert is displayed, you will find company news that may be of interest to you. This service is provided by PR-Newswire.
DENVER, Jan. 31, 2025 /PRNewswire/ - Ovintiv Inc. (NYSE: OVV) (TSX: OVV) ("Ovintiv" or the "Company") today closed the previously announced acquisition of certain Montney assets from Paramount Resources Ltd.
The acquisition adds approximately 70 thousand barrels of oil equivalent per day ("MBOE/d") of production, 900 net 10,000 foot equivalent well locations, and approximately 109,000 net acres of land, strategically located near the Company's current Montney operations with ample access to midstream infrastructure capacity.
DENVER, Jan. 31, 2025 /CNW/ - Ovintiv Inc. (NYSE: OVV) (TSX: OVV) ("Ovintiv" or the "Company") today closed the previously announced acquisition of certain Montney assets from Paramount Resources Ltd.
The acquisition adds approximately 70 thousand barrels of oil equivalent per day ("MBOE/d") of production, 900 net 10,000 foot equivalent well locations, and approximately 109,000 net acres of land, strategically located near the Company's current Montney operations with ample access to midstream infrastructure capacity.
DENVER, Jan. 27, 2025 /CNW/ - Ovintiv Inc. (NYSE: OVV) (TSX: OVV) today announced that Terri G. King has been named as an independent member of its board of directors, effective January 31, 2025.
King, 63, retired from ConocoPhillips Company (ConocoPhillips) in 2023 as Chief Commercial Officer and Vice President. During her lengthy career with ConocoPhillips, she held various roles including President, Lower 48; President, Europe & North Africa; President, United Kingdom; and General Manager of Global Production.
DENVER, Jan. 27, 2025 /PRNewswire/ - Ovintiv Inc. (NYSE: OVV) (TSX: OVV) today announced that Terri G. King has been named as an independent member of its board of directors, effective January 31, 2025.
King, 63, retired from ConocoPhillips Company (ConocoPhillips) in 2023 as Chief Commercial Officer and Vice President. During her lengthy career with ConocoPhillips, she held various roles including President, Lower 48; President, Europe & North Africa; President, United Kingdom; and General Manager of Global Production.
DENVER, Jan. 22, 2025 /PRNewswire/ - Ovintiv Inc. (NYSE, TSX: OVV) ("Ovintiv" or the "Company") today closed the previously announced all cash sale of substantially all its Uinta assets, located in Utah, to FourPoint Resources, LLC, for approximately $2 billion.
"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.
Ovintiv's previously announced acquisition of Alberta Montney assets from Paramount Resources Ltd. is expected to close before the end of the first quarter.
DENVER, Jan. 22, 2025 /CNW/ - Ovintiv Inc. (NYSE, TSX: OVV) ("Ovintiv" or the "Company") today closed the previously announced all cash sale of substantially all its Uinta assets, located in Utah, to FourPoint Resources, LLC, for approximately $2 billion.
"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.
DENVER, Jan. 16, 2025 /CNW/ - Ovintiv Inc. (NYSE: OVV) (TSX: OVV) today announced plans to hold its 2024 fourth quarter and year-end results conference call at 9:00 a.m. MT, on Thursday February 27, 2025. The Company plans to release its financial and operating results after market close, Wednesday February 26, 2025. In addition to the release, supplemental slides and financial statements will be available on the Company's website, located at www.ovintiv.com.
To join the conference call without operator assistance, you may register and enter your phone number at https://emportal.ink/3W9vdna to receive an instant automated call back.
DENVER, Jan. 16, 2025 /PRNewswire/ - Ovintiv Inc. (NYSE: OVV) (TSX: OVV) today announced plans to hold its 2024 fourth quarter and year-end results conference call at 9:00 a.m. MT, on Thursday February 27, 2025. The Company plans to release its financial and operating results after market close, Wednesday February 26, 2025. In addition to the release, supplemental slides and financial statements will be available on the Company's website, located at www.ovintiv.com.
To join the conference call without operator assistance, you may register and enter your phone number at https://emportal.ink/3W9vdna to receive an instant automated call back.
Transaction to Significantly Expand Existing Montney Premium Oil Inventory, Company to Exit Uinta Basin with Asset Sale
Highlights:
Agreement reached to acquire approximately 109,000 net acres and approximately 70 thousand barrels of oil equivalent per day ("MBOE/d") in the core of the Alberta Montney for $2.377 billion (C$3.325 billion)Acquisition will add approximately 900 total net well locations, including approximately 600 premium(1) return well locations and approximately 300 upside locations, extending premium Montney oil and condensate inventory life to approximately 15 yearsExpanded access to additional midstream and downstream infrastructure will enable future oil growth optionalityAgreement reached to divest Uinta assets for proceeds of $2.0 billionCombined transactions are immediately and long-term accretive across all key financial metrics, 2025 Non-GAAP Free Cash Flow expected to increase by approximately $300 million(2) at current commodity strip pricingAnnual cost synergies from the combined transactions are expected to total approximately $125 million(2)Commitment to investment grade balance sheet maintained, ratings agencies expected to affirm investment grade rating and stable outlookNon-GAAP Net Debt of approximately $5.65 billion, as of October 31, 2024Transaction to Significantly Expand Existing Montney Premium Oil Inventory, Company to Exit Uinta Basin with Asset Sale
Highlights:
Agreement reached to acquire approximately 109,000 net acres and approximately 70 thousand barrels of oil equivalent per day ("MBOE/d") in the core of the Alberta Montney for $2.377 billion (C$3.325 billion)Acquisition will add approximately 900 total net well locations, including approximately 600 premium(1) return well locations and approximately 300 upside locations, extending premium Montney oil and condensate inventory life to approximately 15 yearsExpanded access to additional midstream and downstream infrastructure will enable future oil growth optionalityAgreement reached to divest Uinta assets for proceeds of $2.0 billionCombined transactions are immediately and long-term accretive across all key financial metrics, 2025 Non-GAAP Free Cash Flow expected to increase by approximately $300 million(2) at current commodity strip pricingAnnual cost synergies from the combined transactions are expected to total approximately $125 million(2)Commitment to investment grade balance sheet maintained, ratings agencies expected to affirm investment grade rating and stable outlookNon-GAAP Net Debt of approximately $5.65 billion, as of October 31, 2024
P R O D U C T S U G G E S T I O N S
