Ovintiv completed the acquisition of NuVista Energy for $2.7bn.

Ovintiv, an American petroleum company, completed the acquisition of NuVista Energy, a Canadian oil and natural gas exploration and production company, for $2.7bn. "These top decile rate of return assets in the heart of the Montney oil window are an exceptional fit with our existing acreage and infrastructure. The team at NuVista did a great job building these assets and we are excited to apply our industry-leading expertise to the combined position. We expect to generate cost synergies of approximately $100 million annually, including per well cost savings of approximately $1 million, consistent with our current Montney well costs." McCracken continued, "The combination of this transaction with the planned divestiture of our Anadarko assets, will streamline and high-grade our portfolio, help us to meet or exceed our debt target, and uniquely position us with significant inventory duration in the two most valuable oil plays in North America, the Permian and the Montney," Brendan McCracken, Ovintiv President and CEO.