DENVER, Colorado — February 17, 2026 — Leads & Copy — Ovintiv Inc. has reached an agreement to sell its Anadarko assets in Oklahoma for $3.0 billion in cash.
The sale encompasses approximately 360,000 net acres, representing substantially all of Ovintiv’s acreage in the region. Production for February to date is about 90,000 barrels of oil equivalent per day, including 27,000 barrels per day of oil and condensate, 240 million cubic feet per day of natural gas, and 23,000 barrels per day of natural gas liquids.
Brendan McCracken, Ovintiv President and CEO, stated that the transaction marks a significant milestone by focusing the company’s portfolio, achieving its debt target, and increasing shareholder returns. He added that Ovintiv has built a premium inventory position in North America’s Permian and Montney plays, positioning the company to deliver superior shareholder returns for years.
The sale is subject to customary closing conditions and adjustments. The transaction is expected to close early in the second quarter of 2026, with an effective date of January 1, 2026.
Wells Fargo is acting as financial advisor and Kirkland & Ellis LLP as legal advisor to Ovintiv on the transaction.
Ovintiv plans to release its full-year and first quarter 2026 guidance and updated shareholder return framework alongside its fourth-quarter and full-year 2025 results on February 23, 2026.
Ovintiv reports in U.S. dollars. Production estimates are reported on an after-royalties basis.
Source: Ovintiv Inc.
