Ovintiv to buy Montney oil assets for $2.38 billion
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Ovintiv announced its acquisition of Montney oil assets from Paramount Resources for $2.38 billion in an all-cash deal.
November 14, 2024 | 11:30 am
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Ovintiv is acquiring Montney oil assets from Paramount Resources for $2.38 billion in cash, which could enhance its asset portfolio and production capabilities.
The acquisition of Montney oil assets is a significant move for Ovintiv, potentially increasing its production capabilities and asset portfolio. This could positively impact Ovintiv's stock price in the short term as investors may view the acquisition as a strategic expansion.
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