🛢️ Strategic Asset Sale
Ovintiv Inc. announced it has entered into a definitive agreement to sell its Anadarko Basin oil and natural gas assets in Oklahoma for $3.0 billion in cash to an undisclosed buyer.
The sale covers roughly 360,000 net acres — representing nearly all of its holdings in the Anadarko basin.
These assets currently produce about 90,000 barrels of oil equivalent per day (including oil, natural gas and natural gas liquids).
The transaction is expected to close early in Q2 2026, with an effective date of Jan. 1, 2026, pending customary closing conditions.
📈 Market Reaction & Strategy
Following the announcement, Ovintiv’s share price rose modestly in after-hours trading.
The company says the sale sharply focuses its portfolio on higher-return regions, specifically the Permian Basin in the U.S. and the Montney formation in Canada, and is part of its plan to reduce debt and enhance shareholder returns.
📅 Next Steps
Ovintiv plans to release updated financial guidance and its shareholder return plan with its upcoming earnings report, scheduled for release around Feb. 23, 2026.
Why this matters:
This deal reflects a broader trend in the energy sector of streamlining portfolios — shedding non-core assets like Anadarko to concentrate capital on more profitable resource bases like the Permian and Montney.
Let me know if you’d like a breakdown of what this sale could mean for Ovintiv’s future finances or stock performance.