Ovintiv Inc., Denver, has agreed to sell its Anadarko assets in Oklahoma to an undisclosed buyer for cash proceeds of $3 billion.
The sale includes about 360,000 net acres, primarily in the black oil window of SCOOP and STACK, which represents substantially all of the company's acreage in the play.
February production to date is about 90,000 boe/d, including about 27,000 b/d of oil and condensate, 240 MMcfd of natural gas, and 23,000 b/d of natural gas liquids (NGLs).
In a release Feb. 17, Brendan McCracken, Ovintiv president and chief executive officer, said the company has “built one of the deepest premium inventory positions in our industry in the two most valuable plays in North America, the Permian and the Montney,” and that the Anadarko assets sale “positions [Ovintiv] to deliver superior returns for our shareholders for many years to come.”
Ovintiv in 2025 had noted plans to sell the asset to help offset the cost of its acquisition of NuVista Energy Ltd. That $2.7-billion cash and stock deal, which closed earlier this month, added about 930 net 10,000-ft equivalent well locations and about 140,000 net acres (70% undeveloped) in the core of the oil-rich Alberta Montney.
Proceeds from the Anadarko assets sale are earmarked for accelerated debt reduction, the company said.
Ovintiv's sale of its Anadarko assets is expected to close early in this year's second quarter, subject to customary conditions, with an effective date of Jan. 1, 2026.
About the Author
Mikaila Adams
Managing Editor, Content Strategist
Mikaila Adams has 20 years of experience as an editor, most of which has been centered on the oil and gas industry. She enjoyed 12 years focused on the business/finance side of the industry as an editor for Oil & Gas Journal's sister publication, Oil & Gas Financial Journal (OGFJ). After OGFJ ceased publication in 2017, she joined Oil & Gas Journal and was later named Managing Editor - News. Her role has expanded into content strategy. She holds a degree from Texas Tech University.