Ovintiv continues to align upstream execution with long-term market access after signing a 12-year agreement with Pembina for 0.5 million tonnes per annum (mtpa) of liquefaction capacity at the Cedar LNG facility, with commercial operations expected in late 2028. The agreement provides Ovintiv with direct exposure to global LNG markets while strengthening the value of its core Canadian natural gas assets.
Ovintiv Inc. (NYSE, TSX: OVV) has announced a series of transformative transactions aimed at strengthening its core portfolio and enhancing shareholder value. The company has entered into a definitive agreement to acquire premium oil-rich assets in the Alberta Montney from Paramount Resources for $2.377 billion. Concurrently, Ovintiv has agreed to divest its Uinta Basin assets in Utah for $2.0 billion.
Ovintiv expects capital investment in the third quarter to be the high point for the year as a result of the high level of activity in the Midland Basin assets at the time of acquisition.
Ovintiv has a multi-basin portfolio with scale, anchored by large, contiguous positions in the heart of the Permian and Anadarko basins, and the Montney.
