Ovintiv's Montney Buying Spree Continues With $890 Million Logan Deal
U.S.-based oil and gas producer Ovintiv (NYSE: OVV) has agreed to acquire Canadian energy company Logan Energy in an all-cash transaction valued at approximately $890 million (C$1.26 billion), including assumed debt, further expanding its position in Canada's prolific Montney shale play.
Under the agreement announced Monday, Logan shareholders will receive C$1.40 per share.
The acquisition adds approximately 266,000 net acres and 20,000 barrels of oil equivalent per day (boepd) of production, including 7,000 barrels daily of oil and condensate and 70 million cubic feet of natural gas.
Ovintiv will also gain approximately 420 drilling locations in the Simonette and Pouce Coupe areas, including 220 premium locations expected to generate returns exceeding 35% at $55-per-barrel WTI.
The transaction is the latest in a series of Montney acquisitions by Ovintiv.
As previously reported by Oilprice.com , Ovintiv agreed to acquire NuVista Energy for approximately $2.7 billion in November 2025, following a $2.4 billion purchase of Montney assets from Paramount Resources in 2024.
The latest acquisition will increase Ovintiv's core Montney holdings to approximately 720,000 net acres.
The company expects to generate approximately $60 million in annual cost savings, while the acquisition is projected to increase cash flow per share by approximately 5% in 2027.
The deal also includes two oil processing facilities with a combined capacity of 24,000 barrels per day and interests in additional natural gas processing infrastructure.
Completion is expected in early 2027, subject to shareholder and regulatory approvals. Logan will separately spin off certain non-Montney assets into a new company, Logan Oil Corp.
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