Denver-based Ovintiv said last week it agreed to sell its Anadarko assets in Oklahoma to an undisclosed buyer for $3 billion. The sale includes about 360,000 net acres, which represents substantially all the company’s acreage in the play. Production to date in February is about 90,000 boed, including 27,000 b/d of oil and condensate, 240 million cfd of natural gas and about 23,000 b/d of NGLs.
Brendan McCracken, president and CEO, said Feb. 17, “This transaction marks a significant milestone by focusing our portfolio, delivering our debt target and unlocking increased returns to our shareholders. We have built one of the deepest premium inventory positions in our industry in the two most valuable plays in North America, the Permian and the Montney.”
Closing is expected early in second quarter.
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