Ovintiv selling portions of assets in Uinta and Bakken Basins for US$250M
Advertisement
Read this article for free:
or
Already have an account? Log in here »
To continue reading, please subscribe:
Digital Subscription
One year of digital access for only $205*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*First annual payment billed as $205.00 + GST for one year. This annual subscription will automatically renew at $233.00 + GST every 52 weeks (10% off the regular annual price of $259.35). Offer available to new and qualified returning subscribers only. Cancel any time.
To continue reading, please subscribe:
Add Free Press access to your Brandon Sun subscription for only an additional
$1 for the first 4 weeks*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*Your next Brandon Sun subscription payment will increase by $1.00 and you will be charged $17.95 plus GST for four weeks. After four weeks, your payment will increase to $24.95 plus GST every four weeks.
Read unlimited articles for free today:
or
Already have an account? Log in here »
Hey there, time traveller!
This article was published 06/07/2022 (1542 days ago), so information in it may no longer be current.
CALGARY – Ovintiv Inc. has signed a pair of deals to sell portions of its assets located in the Uinta and Bakken Basins for total proceeds of approximately US$250 million.
The company says the Uinta Basin assets being sold are mature waterflood assets.
The Bakken assets include approximately 88 wells, located mainly in Richland County, Mont.
Ovintiv says the combined production volumes from the assets being sold totalled about five thousand barrels of oil equivalent per day, including 4,900 barrels per day of oil and condensate, as of April.
The sales are subject to closing conditions, regulatory approvals and other adjustments, and are expected to close in the third quarter.
The effective date for both sales is April 1.
This report by The Canadian Press was first published July 6, 2022.
Companies in this story: (TSX:OVV)