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Ovintiv Announces Closing of Uinta Asset Sale
OVVOvintiv(OVV) Prnewswire·2025-01-22 22:00

Core Insights - Ovintiv Inc. has completed the sale of substantially all its Uinta assets in Utah to FourPoint Resources, LLC for approximately 2billion,whichreflectsthecompany′sstrategytounlockvaluefromnon−coreassetsandfocusoncoreareas[1]−TheacquisitionofAlbertaMontneyassetsfromParamountResourcesLtd.isanticipatedtoclosebeforetheendofthefirstquarter[2]FinancialTransactions−TheUintaassetsalewasvaluedataround2 billion, which reflects the company's strategy to unlock value from non-core assets and focus on core areas [1] - The acquisition of Alberta Montney assets from Paramount Resources Ltd. is anticipated to close before the end of the first quarter [2] Financial Transactions - The Uinta asset sale was valued at around 2 billion, indicating a significant transaction aimed at optimizing the company's asset portfolio [1] - The upcoming acquisition of Alberta Montney assets suggests ongoing strategic investments to enhance the company's operational footprint [2]