Ovintiv completed the acquisition of certain Montney assets of Paramount Resources for $2.38bn.

Ovintiv, an American petroleum company, completed the acquisition of certain Montney assets of Paramount Resources, a Canadian petroleum company, for $2.38bn. "We are set to rapidly integrate the new Montney asset into our portfolio. We consider it to be one of the highest quality undeveloped acreage positions in North America. It extends our premium Montney oil and condensate inventory life to approximately 15 years and positions Ovintiv as the premier operator in the play. This transaction, when combined with the impact of our recently closed Uinta asset sale, is accretive both immediately and long-term across all key financial metrics. Our 2025 Non-GAAP Free Cash Flow is expected to increase by approximately $300m, at current commodity strip pricing," Brendan McCracken, Ovintiv President and CEO.