Ovintiv Announces Agreement to Acquire Montney Oil Producer, Logan Energy Corp.
PR Newswire•26/10/2026•06:45 ET
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Key Highlights
- ➤Ovintiv agrees to acquire Logan for approximately $890 million, including expected Net Debt
- ➤Acquisition adds approximately 266,000 net acres and approximately 20 MBOE/d in Montney
- ➤2027 Non-GAAP Cash Flow per Share expected to increase approximately 5%
- ➤Annual cost synergies expected to total approximately $60 million
- ➤Ovintiv’s shareholder returns plan remains at least 60% of 2026 Non-GAAP Free Cash Flow
Expert Statements
Brendan McCracken, President and CEO of Ovintiv
“This bolt-on transaction delivers value for our shareholders by adding high margin oil and condensate production and infrastructure, utilizing our operational advantage to drive significant synergies, and adding to our already deep drilling inventory and future growth optionality. The Logan assets have demonstrated leading oil productivity performance and will immediately compete for capital alongside the rest of our portfolio.”
Ovintiv Announces Agreement to Acquire Montney Oil Producer, Logan Energy Corp. PR Newswire
Transaction Unlocks Incremental Profitability, Provides Additional Oil Growth Optionality, and Adds to Premium Return Drilling Inventory
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