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Ovintiv to Sell Its Anadarko Assets for $3 Billion
Ovintiv sells 360,000 net acres in Oklahoma's Anadarko Basin for $3 billion to focus on higher-margin Permian and Montney plays, aiming to strengthen its balance sheet.
- Ovintiv Inc. agreed to sell its Anadarko Basin assets in Oklahoma for $3.0 billion to an undisclosed buyer, announced 02/17/2026.
- Describing the transaction as a milestone, Brendan McCracken said Ovintiv said the divestiture will streamline its portfolio and focus capital on higher‑margin Permian and Montney plays, delivering on a November plan.
- The divested package includes roughly 360,000 net acres—substantially all Anadarko assets—and month-to-date February production averages about 90,000 barrels of oil equivalent per day, including 27,000 bbl/d of oil and condensate, 240 million cubic feet per day natural gas and 23,000 bbl/d of natural gas liquids.
- The deal is expected to close early in the second quarter of 2026 with an effective date of January 1, 2026, and proceeds will reduce net debt to $4 billion while updating guidance on February 23, 2026.
- Amid industry consolidation, the move aligns with broader capital concentration trends as North American producers focus on core basins; Ovintiv's stock is up nearly 18% year-to-date following recent Montney and NuVista Energy Ltd. deals.
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14 Articles
14 Articles
Ovintiv To Sell Anadarko Energy Assets In $3 Billion Deal
Canada-based energy firm, Ovintiv Inc. (NYSE: OVV), has entered into a definitive agreement to sell its Oil & Gas assets in the Anadarko Basin in Oklahoma to an undisclosed buyer for $3 billion in cash. The assets include ~360,000 net acres, representing nearly all of the company's holdings in the Anadarko region. Ovintiv currently produces roughly 90,000 barrels of oil equivalent per day (boepd) from these assets, consisting of 27,000 bbl/d of…
·London, United Kingdom
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Total News Sources14
Leaning Left1Leaning Right0Center6Last UpdatedBias Distribution86% Center
Bias Distribution
- 86% of the sources are Center
86% Center
14%
C 86%
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