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Announced

Completed

Validus Energy completed the acquisition of the Eagle Ford assets from Ovintiv for $880m.

Financials

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Transaction Value£637m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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oil and gas assets

Infrastructure

United States

Private

Single Bidder

Integrated Oil and Gas

Domestic

Majority

Friendly

Acquisition

Completed

Synopsis

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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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