Another significant find of oil has been made in McClain County where Ovintiv USA Inc. reported two wells drilled on a single pad and combined production of nearly 1,500 barrels of oil a day.
Ovintiv Inc.announced this week the completion of its $4.2 billion acquisition of core Midland Basin assets in West Texas.
Permian Basin shale producer Ovintiv is set to expand its operational footprint in the region with its acquisition of three private-equity backed operators for $4.275 billion in cash and stock.
Ovintiv 2023 capital investment of approximately $2.25 billion at the midpoint, the Company expects to deliver total production volumes of 500 to 525 MBOE/d.
Ovintiv has a multi-basin portfolio with scale, anchored by large, contiguous positions in the heart of the Permian and Anadarko basins. Ovintiv ranks #14 in wells drilled in 2022 with 126 wells drilled in the Mid Continent of the US. OVINTIV USA ranks #23 in air permits approved in 2022 with 19 permits in Texas.
Kingfisher County remains a gold mine for Ovintiv Inc. The company filed completion reports in recent days showing two wells on a single pad, each with production of more than 1,300 barrels of oil a day. That’s a combined 2,600 barrels of oil from the same pad.
Oklahoma’s STACK came through in a big way for Ovintiv USA Inc. as the company just reported completion of three wells on a single pad with production of nearly 4,500 barrels of oil a day.
Ovintiv has ~360,000 net acres held by production, primarily in the black oil window of SCOOP and STACK.
Ovintiv latest venture in Kingfisher County were two Connie Fed 1608 wells on a single pad at a site about 5 miles west of Kingfisher where combined production was nearly 2,200 barrels of oil a day.
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.
