Ovintiv Inc. has announced a significant agreement to sell its Anadarko assets, located in Oklahoma, for a substantial sum of $3.0 billion. This sale encompasses around 360 thousand net acres, representing the majority of the company's acreage in the play. Notably, the month-to-date production in February is approximately 90 thousand barrels of oil equivalent per day, including around 27 thousand barrels per day of oil and condensate, roughly 240 million cubic feet per day of natural gas, and about 23 thousand barrels per day of natural gas liquids.
Brendan McCracken, President and CEO of Ovintiv, emphasized the transaction as a significant milestone in focusing the company's portfolio, meeting debt targets, and generating increased returns for shareholders. The sale is anticipated to close early in the second quarter of 2026, with an effective date of January 1, 2026, subject to standard closing conditions and adjustments.
Wells Fargo is acting as the financial advisor to Ovintiv in this transaction, while Kirkland & Ellis LLP is serving as the legal advisor. Ovintiv is expected to release its full-year and first quarter 2026 guidance, along with an updated shareholder return framework, coinciding with the release of its fourth-quarter and full-year 2025 results on February 23, 2026. Today the company's shares have moved -0.65% to a price of $39.69. For more information, read the company's full 8-K submission here.
