Ovintiv to Sell 360,000 Acres of Anadarko Assets for $3 Billion
Ovintiv agreed to sell its 360,000 net-acre Anadarko portfolio in Oklahoma for $3.0 billion, assets that currently produce roughly 90,000 barrels of oil equivalent per day (27,000 barrels of oil, 240 million cubic feet of gas and 23,000 barrels of NGLs). The transaction, effective January 1, 2026 and expected to close early in Q2 2026, will streamline Ovintiv’s focus on its Permian and Montney operations.
1. Asset Sale Agreement
Ovintiv has signed a definitive agreement to divest its Anadarko assets in Oklahoma for $3.0 billion in cash. The package includes about 360,000 net acres with current production of approximately 90,000 barrels of oil equivalent per day (27,000 barrels of oil and condensate, 240 million cubic feet of natural gas and 23,000 barrels of natural gas liquids). The transaction carries an effective date of January 1, 2026 and is expected to close early in the second quarter of 2026.
2. Strategic Focus and Financial Impact
This divestiture supports Ovintiv’s strategy to streamline its portfolio, enhance shareholder returns and achieve targeted debt reduction. Proceeds will bolster financial flexibility as the company concentrates on its higher-margin operations in the Permian and Montney regions.
3. Upcoming Guidance and Analyst Outlook
Ovintiv will release fourth-quarter and full-year 2025 results along with full-year and first-quarter 2026 guidance on February 23, 2026. The stock trades at a premium valuation near a 49.5x P/E multiple and maintains a buy consensus with average price targets around $51.