Ovintiv Announces Agreement to Acquire Montney Oil Producer, Logan Energy Corp.
Ovintiv agreed to acquire Montney oil producer Logan Energy Corp. for C$1.40 per share in cash, valuing Logan at approximately $890 million (C$1.26 billion) including net debt. The deal adds roughly 266,000 net acres, ~420 net 10,000-foot equivalent oil well locations (220 premium return), and ~20 MBOE/d of production in the oil-rich Montney, plus owned oil batteries and gas processing interests. Management expects the transaction to be immediately accretive — ~5% to 2027 Non-GAAP Cash Flow per Share and ~3% to Free Cash Flow per Share — with ~$60 million in annual synergies, funded via cash, credit facility and commercial paper.
Key figures
- Deal Value Usd
- 890000000
- Deal value cad
- C$1.26 billion
- Net acres added
- 266000
- Per share price
- C$1.40
- Pro forma net debt
- below $4 billion
- Cfps accretion 2027
- 5%
- Annual synergies usd
- 60000000
- Fcfps accretion 2027
- 3%
- Well locations added
- 420
- Premium well locations
- 220
- Acquired production mboe d
- 20000
AI analysis
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