DENVER, COLORADO (By Ovintiv, 26.Aug.2026, Words: 267) — Ovintiv Inc. provided an update on its 2026 ground game acquisition program.
On a year-to-date basis, the company has entered into over 60 transactions, which will result in the addition of approximately 41,000 net acres of land across its Montney and Permian assets for a total acquisition cost of approximately $460mn.
The transactions will add 240 net 10,000-foot equivalent well locations to Ovintiv’s drilling inventory (190 base locations and 50 upside locations). The assets are being acquired at an attractive valuation of approximately $11,000 per net acre, and approximately $1.3mn-$1.7mn per well location, when adjusted for minimal production volumes from the assets.
In the Permian, Ovintiv is acquiring:
— approximately 21,000 net acres of land,
— 120 total well locations (80 base locations and 40 upside locations) in the Midland basin,
— cost: approximately $230mn.
In the Montney, Ovintiv is acquiring:
— approximately 20,000 net acres of land,
— 120 total well locations (110 base locations and 10 upside locations) in the liquids-rich Alberta oil window,
— cost: approximately $230mn.
ANALYSIS: QUAKES EXPOSE LEADERSHIP VOID IN VENEZUELA RICH IN OIL, POOR IN GOVERNANCE
Following these transactions, the company will have added approximately 500 net 10,000-foot equivalent well locations year-to-date, with the inclusion of 260 locations from organic inventory enhancement.
Ovintiv expects the remaining transactions to close before the end of the year.
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