Ovintiv to Sell Anadarko Assets for $3B, Divesting 360,000 Net Acres
Ovintiv agreed to sell its Anadarko assets for $3.0 billion, divesting roughly 360,000 net acres that produce about 90,000 barrels of oil equivalent per day. The transaction, effective January 1, 2026 and closing early in Q2, supports refocusing on Permian and Montney plays and achieving the company’s debt reduction target.
1. Definitive Asset Sale Agreement
Ovintiv entered into a definitive agreement to sell its Anadarko assets for $3.0 billion in cash proceeds, with the deal carrying an effective date of January 1, 2026. The transaction is expected to close early in the second quarter of 2026, strengthening the balance sheet and providing liquidity.
2. Anadarko Assets Divestment Details
The assets include approximately 360,000 net acres and currently produce about 90,000 barrels of oil equivalent per day, comprising 27,000 barrels of oil and condensate, 240 million cubic feet of natural gas, and 23,000 barrels of natural gas liquids. This divestment removes nearly all of Ovintiv’s Anadarko-region holdings.
3. Strategic Portfolio Refocus and Guidance
Proceeds from the sale will help Ovintiv reduce debt and concentrate capital on its core North American assets in the Permian and Montney. The company will issue full-year 2026 and first-quarter 2026 guidance alongside its fourth-quarter and full-year 2025 results on February 23, 2026.