Ovintiv buys 41,000 net acres in Permian, Montney for USD 460 million

Ovintiv entered more than 60 deals to add about 41,000 net acres in the Permian, Montney for about USD 460 million.

• The transactions add 240 net 10,000-foot equivalent drilling locations, including 190 base locations and 50 upside locations.
• The Permian package totals about 21,000 net acres in the Midland Basin for about USD 230 million.
• The Montney package totals about 20,000 net acres in Alberta’s liquids-rich oil window for about USD 230 million.
• Closings are expected before year-end; year-to-date inventory additions are projected at about 500 net locations, including 260 from organic enhancements.