Ovintiv to buy Montney oil producer Logan Energy for $890M

Denver-based Ovintiv will acquire all shares of Montney oil producer Logan Energy for about $890 million (C$1.26 billion) including expected net debt. The deal adds roughly 266,000 net acres and about 20 MBOE/d of current production, funded with cash, credit facility borrowings and commercial paper.

Why it matters: The bolt-on adds about 420 oil well locations and 20 MBOE/d of production near Ovintiv's existing Montney operations.