Ovintiv Inc. (NYSE/TSX: OVV) has announced a major portfolio transformation, signing a definitive agreement to acquire NuVista Energy Ltd. (TSX: NVA) for approximately US $2.7 billion (C$3.8 billion) in a cash-and-stock transaction. The deal expands Ovintiv’s footprint in the oil-rich Alberta Montney, adding scale, infrastructure, and premium drilling inventory that directly complements its existing operations.

The Delaware Basin continues to lead U.S. onshore drilling momentum, with activity levels holding steady through the second half of 2025. Since June, more than two dozen operators have spudded new wells across West Texas and southeastern New Mexico, highlighting a mix of capital discipline and strategic rig deployment.