Home / Business and Economy / $3 Billion Oklahoma Sale Boosts Ovintiv Focus
$3 Billion Oklahoma Sale Boosts Ovintiv Focus
18 Feb
Summary
- Ovintiv has agreed to sell its Oklahoma Anadarko assets.
- The sale is valued at $3 billion to an undisclosed buyer.
- Focus will shift to Permian Basin and Canadian Montney plays.
Ovintiv announced on Tuesday its agreement to sell its Anadarko assets located in Oklahoma. The deal, valued at $3 billion, is with an undisclosed buyer. This significant divestment is part of Ovintiv's strategic initiative to redirect its resources and attention.
The company is sharpening its focus on plays that offer higher profit margins. Specifically, Ovintiv aims to enhance its operations in the Permian Basin and Canada's Montney region. These areas are identified as key growth opportunities for the energy firm.
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