denver, February 17, 2026 /CNW/ – Ovintiv Inc. (NYSE: OVV) (TSX: OVV) (“Ovintiv” or the “Company”) today announced that it has entered into a definitive agreement to sell its Anadarko assets in Oklahoma to an undisclosed buyer for $3 billion in cash proceeds.
The sale includes approximately 360,000 net acres, representing substantially all of the company’s acreage in the play. Year-to-date production in February has been approximately 90,000 barrels of oil equivalent per day, including approximately 27,000 barrels per day of oil and condensate, approximately 240 million cubic feet per day of natural gas and approximately 23,000 barrels per day of natural gas liquids (“NGL”).
“This transaction marks an important milestone in our focus on our portfolio, achieving our debt goals and delivering accretive returns for our shareholders,” said Brendan McCracken, President and CEO of Ovintiv. “We have built one of the industry’s deepest premium inventory positions in two of North America’s most valuable regions, the Permian and Montney. This positions us to deliver superior returns to our shareholders for many years to come.”
The sale is subject to the satisfaction of customary closing conditions and customary closing adjustments. The transaction is expected to close in the early second quarter of 2026, with an effective date of January 1, 2026.
Wells Fargo is acting as financial advisor to Ovintiv on this transaction. Kirkland & Ellis LLP is acting as legal advisor to Ovintiv in connection with the transaction.
Ovintiv plans to announce full-year and first-quarter 2026 guidance and an updated shareholder return framework when it releases its fourth-quarter and full-year 2025 results on February 23, 2026.
Important information
Ovintiv reports in U.S. dollars unless otherwise noted. Production estimates are reported on a net-of-royalties basis unless otherwise noted. Unless otherwise specified or the context requires otherwise, references to “Ovintiv,” “we,” or “us” include references to Ovintiv Inc. and its subsidiary subsidiaries and partnership interests held by them.
Visit Ovintiv’s website and investor relations pages at www.ovintiv.com and investor.ovintiv.com. Ovintiv frequently discloses important information about our company, our business, and our results of operations.
Recommendation Regarding Forward-Looking Statements – This news release contains forward-looking statements or information within the meaning of applicable securities laws, including Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (collectively, “forward-looking statements”). All statements, other than statements of historical fact, that relate to our anticipated future activities, plans, strategies, objectives or expectations are forward-looking statements. When used in this news release, words and phrases such as “anticipate,” “believe,” “continue,” “may,” “estimate,” “expect,” “focus,” “anticipate,” “guidance,” “intend,” “sustain,” “may,” “opportunity,” “outlook,” “plan,” “potential,” “strategy,” “goal,” and similar words and phrases are used in this news release. Although the words “will,” “will,” and other similar terminology are intended to identify forward-looking statements, not all forward-looking statements contain such identifying words or phrases. Without limiting the generality of the foregoing, forward-looking statements contained in this news release include: the expected completion date of the Anadarko asset sale; and the timing of Ovintiv’s full-year and first quarter 2026 guidance and updated shareholder return framework.
The forward-looking statements provided in this news release are based on a number of important factors and assumptions made by Ovintiv as of the date of this news release. our ability to complete pending acquisitions or sales (including the transactions described herein); our ability to access credit facilities and capital markets; the availability of attractive products or financial hedges and the enforceability of risk management programs; our ability to obtain and maintain productivity and efficiency improvements; our ability to generate cash profits and implement our stock repurchase plans; expectations regarding our plans, strategies and goals, including anticipated production volumes and capital expenditures; our ability to manage expected cost inflation and our expected cost structure, including expected operating, transportation, processing and labor costs; the outlook for the oil and natural gas industry generally, including the impact of changes in the geopolitical environment; Our forecasts are based on our historical experience and awareness of past industry trends, and are broadly consistent with these. and other assumptions contained herein. Although we believe that the expectations expressed in forward-looking statements are reasonable based on information available on the date such statements are made, forward-looking statements are only predictions and expressions of our current beliefs, and there can be no assurance that such expectations will prove to be correct.
All forward-looking statements contained in this news release are made as of the date of this news release, and the Company undertakes no obligation to publicly update or revise any forward-looking statements, except as required by law. The forward-looking statements contained in or incorporated by reference in this news release and all subsequent forward-looking statements attributable to us, whether written or oral, are expressly qualified by these cautionary statements.
Readers should carefully read the risk factors described in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the Company’s most recent Annual Report (Form 10-K), Quarterly Reports (Form 10-Q) and other filings with the SEC or Canadian securities regulators. A description of certain risks that could cause actual results to differ from those in these forward-looking statements is included. Other unpredictable or unknown factors not discussed in this new release may also materially adversely affect the forward-looking statements.
For more information about Ovintiv Inc., visit our website at www.ovintiv.com or contact us at:
Investor contact information:
(888) 525-0304
Media contact:
(403) 645-2252
Source Ovintiv Inc.
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