Ovintiv Inc. (fka Encana Corp.)
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About
Ovintinv (fka Encana Corp.) is a leading North American energy producer that is focused on growing its strong portfolio of diverse resource plays producing natural gas, oil and NGL. By partnering with employees, community organizations and other businesses, Ovintiv contributes to the strength and sustainability of the communities where it operates. Ovintiv common shares trade on the Toronto and New York stock exchanges under the symbol OVV.
Editor's note: Updated Feb. 4, 2020.
Transactions
Ovintiv to Sell ‘Noncore’ Bakken, Uinta Assets for $250 Million
Ovintiv to Sell ‘Noncore’ Bakken, Uinta Assets for $250 Million
Ovintiv Sells Eagle Ford Asset to Private Operator for $880 Million
Ovintiv Sells Eagle Ford Asset to Private Operator for $880 Million
Ovinitv Sells Out of Canada’s Duvernay Shale Play
Ovinitv Sells Out of Canada’s Duvernay Shale Play
Ovintiv, PetroChina Split Duvernay Assets in JV Breakup
Ovintiv, PetroChina Split Duvernay Assets in JV Breakup
Empire Petroleum Agrees to Acquire Williston Basin Properties from Ovintiv
Empire Petroleum Agrees to Acquire Williston Basin Properties from Ovintiv
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New Financings
Encana Corp. announced the final results of its substantial issuer bid under which it has accepted to…
Encana Corp. commenced its previously announced substantial issuer bid to purchase for cancellation up to…
Commenced a normal course issuer bid through which Encana may spend up to $400 million to purchase up to…
Plans to spend up to $400 million to repurchase up to 35 million common shares.
Completed bought deal offer of about 85.6 million common shares priced at C$14.60 each. Syndicate of…
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News
Fury Road: Will $450MM Battalion M&A Fuel More Go-private Deals?
Delaware Basin E&P Battalion Oil is being acquired in a go-private transaction by a newly formed E&P Fury Resources. Could go-private sales become more common for small E&Ps with limited runway in the public markets?
Ovintiv CEO McCracken: Magnifying Margins
Ovintiv President and CEO Brendan McCracken has beefed up the E&P’s portfolio with a major acquisition in the Permian and added exposure to the lucrative Canadian LNG market.
E&P Reinvestment Rates Predicted to Drop, Rystad Says
Rystad believes the reinvestment rate—the ratio of capex and cash flow from operations—is in decline from a high of 72% reached in the second quarter.
Middle Innings: Shale E&Ps’ Slow Struggle to Woo Back Investors
To attract capital back into the sector, the largest oil and gas companies are spending less on exploration and development and more on shareholder returns. How long can they keep the gravy train rolling in different commodity cycles?
Uinta Rivals the Best of Permian, XCL Resources Contends
The Uinta competes with the Permian Basin’s best counties, although XCL Resources acknowledges the crude’s paraffin content presents transportation hurdles.
McKinsey: Over Half of Upstream M&A Has Hurt Shareholder Value
During the past 12 years, many of the largest upstream oil and gas deals have lost value for shareholders, according to analysis by McKinsey & Co.
Ovintiv’s $4.2 Billion Permian Deal Improves Inventory Runway, Crude Output
Ovintiv’s $4.275 billion bid to acquire three EnCap-backed E&Ps in the northern Midland Basin adds much-needed inventory and addresses key investor concerns, analysts say.
APA, Marathon Oil, Ovintiv Boost Returns as Oil Prices Surge
The sharp focus on returns comes as oil companies remain under pressure from shareholders to increase payouts rather than spend excessively on new oil growth.
Report Claims ESG-focused US Shale Producers Perform Better over Time
A new study shows how ESG ratings of oil and gas operators are impacting their long-term financial performance.
Ovintiv to Sell ‘Noncore’ Bakken, Uinta Assets for $250 Million
As a result of the agreements to sell portions of its assets located in the Bakken and Uinta basins, Ovintiv said it has elected to accelerate the doubling of its cash returns to shareholders starting immediately.
A&D Watch: Utah’s—Yes, Utah—M&A Spree
While it’s inevitable that another basin snatches a ray of limelight from the Permian Basin from time to time, probably no one expected a rare run on Utah’s Uinta Basin, where M&A has suddenly been heating up.
Shale Producer Ovintiv Considering Sale of Utah Land, Sources Say
Ovintiv’s Uinta Basin assets spanned around 207,000 net acres in central Utah and had production of around 13,000 boe/d as of its 2020 annual report.
Best of This Week’s Drilling Activity Highlights (Oct. 22, 2021)
Results from a trio of Devon Energy Bone Spring wells in the Permian Basin, an offshore Ghana oil discovery by Eni plus a test well in Australia’s Northern Territory top this week’s oil and gas drilling activity highlights from around the world.
Ovintiv CEO Doug Suttles Announces Retirement
The Ovintiv board has named Brendan McCracken as president and CEO, effective Aug. 1, as part of a comprehensive succession planning process, says Board Chair Peter Dea.
Ovintiv Accelerates Debt Goal Following Closing Eagle Ford Asset Sale
The roughly $880 million in proceeds from the Eagle Ford asset sale will be applied toward Ovintiv’s goal to cut debt by around 35% to $4.5 billion by year-end.