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 USA ranks #18 in wells drilled in 2023 with 173 wells drilled in the US. Download 2023 drilling report.
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.
Ovintiv wells near Kingfisher produced a thousand barrels of oil a day.
Ovintiv’s 2021 planned capital investments are approximately $1.5 billion and production 500BOE
