Ovintiv ( (OVV) ) has shared an announcement.
Ovintiv Inc. is making strategic moves in the oil and gas sector with a significant acquisition and divestiture, enhancing its portfolio and financial metrics. The company has agreed to acquire oil-rich assets in Alberta’s Montney region for $2.377 billion, boosting its production and inventory, while divesting Uinta Basin assets for $2 billion. These transactions are expected to be accretive, enhancing free cash flow and operational synergies, while maintaining a strong balance sheet. Investors can anticipate Ovintiv’s strengthened position and potential growth in the lucrative Montney play.
Learn more about OVV stock on TipRanks’ Stock Analysis page.
