Ovintiv to Sell 360,000 Acres of Anadarko Assets for $3 Billion
Ovintiv agreed to sell its Anadarko assets (360,000 net acres producing about 90,000 barrels of oil equivalent per day) for $3.0 billion in cash. The transaction, effective January 1, 2026, will close early in Q2 2026 and refocus the portfolio on the Permian and Montney while targeting debt reduction.
1. Transaction Overview
Ovintiv has entered a definitive agreement to sell its Anadarko assets for $3.0 billion in cash, with an effective date of January 1, 2026. The deal covers approximately 360,000 net acres in the region and is expected to close early in the second quarter of 2026.
2. Asset Production Profile
The Anadarko portfolio currently produces about 90,000 barrels of oil equivalent per day month-to-date, including 27,000 barrels of oil and condensate, 240 million cubic feet of natural gas, and 23,000 barrels of natural gas liquids. These volumes represent nearly all of Ovintiv’s holdings in the Anadarko region.
3. Strategic Impact and Outlook
Proceeds from the sale will be used to reduce debt and sharpen focus on high-margin plays in the Permian and Montney. Management anticipates this divestiture will strengthen the balance sheet ahead of full-year and Q1 2026 guidance to be issued on February 23, 2026.