Ovintiv Strengthens Portfolio with Core Oil-Rich Montney Asset Acquisition
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Ovintiv Inc. has announced a $2.377 billion acquisition of Montney assets from Paramount Resources, expanding its oil inventory and divesting Uinta assets for $2 billion. The transactions are expected to be accretive, with increased free cash flow and cost synergies.
November 14, 2024 | 11:15 am
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Ovintiv Inc. is acquiring Montney assets for $2.377 billion and selling Uinta assets for $2 billion. The transactions are expected to be accretive, increasing free cash flow by $300 million and achieving $125 million in cost synergies.
The acquisition of Montney assets and the sale of Uinta assets are significant strategic moves for Ovintiv. The transactions are expected to be accretive, enhancing free cash flow and achieving cost synergies, which are positive indicators for the company's financial health and stock performance.
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