Business
Ovintiv Announces Closing of NuVista Energy Acquisition
Ovintiv Inc. (NYSE: OVV) (TSX: OVV) ("Ovintiv" or the "Company") announced today that it has completed its acquisition of all of the common shares ("NuVista Shares") of NuVista Energy Ltd. (TSX: NVA) ("NuVista") in a cash and stock transaction valued at $2.7 billion.
About this update from Ovintiv Inc. (de)
[{"type":"text","content":"DENVER, Feb. 3, 2026 /CNW/ - Ovintiv Inc. (NYSE: OVV) (TSX: OVV) ("Ovintiv" or the "Company") announced today that it has completed its acquisition of all of the common shares ("NuVista Shares") of NuVista Energy Ltd. (TSX: NVA) ("NuVista") in a cash and stock transaction valued at $2.7 billion.","length":336,"tagName":"p"},{"type":"image","alt":"Ovintiv Announces Closing of NuVista Energy Acquisition (CNW Group/Ovintiv Inc.)","displaySize":"","headline":null,"caption":"Ovintiv Announces Closing of NuVista Energy Acquisition (CNW Group/Ovintiv Inc.)","className":"","disableSlideshowImg":false,"size":{"original":{"width":155,"height":200,"url":"https://media.zenfs.com/en/prnewswire.com/8e146d00650eb37d60270d69551974fb"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/IiOuR4bAu07EW3ibiv942w--/YXBwaWQ9aGlnaGxhbmRlcjt3PTIxMDtoPTI3MTtjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/8e146d00650eb37d60270d69551974fb","width":155,"height":200}},"href":"https://mma.prnewswire.com/media/2875303/Ovintiv_Inc__Ovintiv_Announces_Closing_of_NuVista_Energy_Acquisi.pdf?p=original","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"The acquisition is expected to add approximately 930 net 10,000-foot equivalent well locations, and approximately 140,000 net acres (approximately 70% undeveloped) in the core of the oil-rich Alberta Montney. Full year 2026 production from the acquired assets is expected to average approximately 100 MBOE/d (approximately 25 thousand barrels per day ("Mbbls/d") of oil and condensate). The assets are directly adjacent to Ovintiv's current operations and include access to processing and downstream infrastructure with significant available capacity.","length":565,"tagName":"p"},{"type":"text","content":""These top decile rate of return assets in the heart of the Montney oil window are an exceptional fit with our existing acreage and infrastructure," said Ovintiv President and CEO, Brendan McCracken. "The team at NuVista did a great job building these assets and we are excited to apply our industry-leading expertise to the combined position. We expect to generate cost synergies of approximately $100 million annually, including per well cost savings of approximately $1 million, consistent with our current Montney well costs." McCrac...