Ovintiv to Sell Anadarko Assets for $3 Billion, Streamlines Portfolio
Ovintiv will divest its Anadarko assets for $3.0 billion, shedding roughly 360,000 net acres that produced about 90,000 barrels of oil equivalent per day in February. The deal, effective January 1, 2026 and expected to close early Q2, sharpens focus on the Permian and Montney plays.
1. Deal Details
Ovintiv agreed to sell its Anadarko assets for $3.0 billion in cash, divesting approximately 360,000 net acres in the region. This transaction will bolster liquidity and support the company's debt reduction targets as part of a broader portfolio optimization.
2. Asset Production Profile
The Anadarko assets produced about 90,000 barrels of oil equivalent per day in February, 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 Focus and Timeline
The sale aligns with Ovintiv's plan to concentrate on its core Permian and Montney operations and is expected to close early in Q2 2026 with an effective date of January 1, 2026. Ovintiv will issue full-year 2025 results and 2026 guidance on February 23, 2026.