Announced
Completed
Financials
Sources
Tags
oil and gas assets
Infrastructure
United States
Private
Single Bidder
Integrated Oil and Gas
Domestic
Majority
Friendly
Acquisition
Completed
Synopsis
Energy company Validus Energy completed the acquisition of the Eagle Ford assets from Ovintiv, one of the largest producers of oil, condensate and natural gas in North America, for $880m. "Today's Eagle Ford announcement continues our track record of unlocking value from non-core assets. Proceeds will significantly accelerate the achievement of our debt reduction target and allow us to pay off near-term debt maturities with cash on hand. Our 2021 outlook is strong and we expect to generate significant free cash flow for the fourth consecutive year," Doug Suttles, Ovintiv CEO.
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