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Ovintiv to buy Logan Energy in deal valued at $1.26 billion, including debt
The deal adds about 266,000 net acres and 20,000 barrels of oil equivalent per day in the Montney region, Ovintiv said.
- On Monday, Ovintiv Inc. announced a deal to acquire Logan Energy Corp. for $1.26 billion, including the assumption of debt, to expand its presence in the Montney region.
- The acquisition adds approximately 266,000 net acres and about 20,000 barrels of oil equivalent per day of production to Ovintiv's existing portfolio.
- Ovintiv said the deal adds about 420 net drilling locations, including 220 premium-return wells, alongside two oil batteries and interests in two natural gas processing facilities.
- Logan Energy shareholders will receive $1.40 per share in cash, plus shares in Logan Oil Corp. and warrants, bringing total consideration to about $1.48 per share.
- Closing is expected early in the first quarter of 2027, with warrants for Logan Oil Corp. shares exercisable at $1 within 60 days following the closing date.
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Leaning Left6Leaning Right1Center3Last UpdatedBias Distribution60% Left
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- 60% of the sources lean Left
60% Left
L 60%
C 30%
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