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Ovintiv to buy oil-rich assets in Canada's Montney shale for $2.38 billion

  • Ovintiv Inc. Has signed a deal to acquire assets in the Montney region from Paramount Resources Ltd. For about US$2.38 billion.
  • The acquisition adds approximately 70,000 barrels of oil equivalent per day of production.
  • Cash from the Uinta Basin asset sale to FourPoint Resources, LLC, is expected to help fund the Montney acquisition.
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