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Ovintiv Announces Closing of Montney Asset Acquisition

1. Ovintiv completed acquiring Montney assets, adding 70 MBOE/d production. 2. The acquisition includes 900 well locations and 109,000 net acres.

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$43.8701/31 08:47 AM EDTEvent Start
$42.2202/03 09:07 AM EDTLatest Updated
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FAQ

Why Bullish?

The acquisition significantly boosts production capacity, potentially enhancing OVV's revenue. Past acquisitions have positively impacted stock performance as they expand operational capabilities.

How important is it?

The acquisition strengthens OVV's position, influencing investor sentiment and stock performance. Such corporate actions typically lead to increased market confidence.

Why Long Term?

Increased production is expected to benefit OVV over the long term. Historical growth from similar asset acquisitions supports this outlook.

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PARAM
DENVER , Jan. 31, 2025 /PRNewswire/ - Ovintiv Inc. (NYSE: OVV) (TSX: OVV) ("Ovintiv" or the "Company") today closed the previously announced acquisition of certain Montney assets from Paramount Resources Ltd. The acquisition adds approximately 70 thousand barrels of oil equivalent per day ("MBOE/d") of production, 900 net 10,000 foot equivalent well locations, and approximately 109,000 net acres of land, strategically located near the Company's current Montney operations with ample access to midstream infrastructure capacity.

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