From Financialpost · · 1m 10s
Ovintiv Acquires Logan Energy for $1.26B
Ovintiv buys Logan Energy in $1.26 billion deal to expand Montney oil operations.
In brief
Ovintiv buys Logan Energy in $1.26 billion deal to expand Montney oil operations. Ovintiv Inc. agreed to acquire Canadian oil and gas producer Logan Energy Corp. for $1.26 billion, adding 266,000 net acres and 20,000 barrels of oil equivalent per day to its Montney operations. Originally reported by Financialpost.
Ovintiv Acquires Logan Energy
Ovintiv Inc. agreed to acquire Canadian oil and gas producer Logan Energy Corp. in an all-cash transaction valued at about $1.26 billion, including net debt.
Deal Details
Denver-based Ovintiv will pay $1.40 a share for Logan, adding 266,000 net acres and approximately 20 thousand barrels of oil equivalent per day.
Expected Closing
The transaction is expected to close early in the first quarter of 2027.
Montney Expansion
The purchase boosts Ovintiv’s Montney operations, building on the company’s US$2.3 billion acquisition of assets from Paramount Resources Ltd. completed in early 2025.
Canadian Energy Context
Canadian energy dealmaking picks up as Prime Minister Mark Carney vows to speed permits for major projects to make Canada an energy superpower.
Here's the gist
Ovintiv Inc. agreed to acquire Canadian oil and gas producer Logan Energy Corp. for $1.26 billion, adding 266,000 net acres and 20,000 barrels of oil equivalent per day to its Montney operations.
