Ovintiv Inc.

Closed the $2.9 billion Anadarko Basin sale and used the proceeds to fully repay and terminate the C$1.57 billion NuVista acquisition term loan, plus called all $700 million of its outstanding 5.650% 2028 notes for early redemption — a swift, disciplined deleveraging following back-to-back acquisitions.

asset acquisition disposition

Agreed to sell its Anadarko Basin assets (roughly 360,000 net acres in west-central Oklahoma) to MidCon II BuyerCo for $3.0 billion cash — continuing the pattern of funding core Montney/Permian growth by exiting non-core basins.

material agreement

Closed the NuVista Energy acquisition, paying C$1.57 billion cash (funded by the new term loan) plus about 30.1 million Ovintiv shares to NuVista shareholders.

business combination

Arranged a $1.2 billion two-year term loan to finance the cash portion of the NuVista acquisition.

debt financing

Agreed to acquire the rest of NuVista Energy (an Alberta Montney producer in which Ovintiv already held a 9.6% stake from a prior private purchase) for about $2.7 billion (C$3.8 billion) in a 50% cash / 50% stock deal at C$18.00/share, adding roughly 140,000 net acres directly adjacent to Ovintiv's existing Montney operations.

business combination

Completed the Paramount Montney acquisition (approximately 109,000 net acres) for CAD$3.325 billion, funded by short-term borrowings, cash on hand including Uinta divestiture proceeds, and the Horn River asset swap.

asset acquisition disposition

Closed the sale of its Uinta Basin (Duchesne, Uinta and Wasatch Counties, Utah) oil and gas assets to FourPoint Resources, using the proceeds to retire and terminate the $1.5 billion asset-sale term loan that had backstopped the Montney acquisition — the planned divestiture-funds-acquisition sequencing playing out as designed.

material agreement termination

Arranged $2.5 billion in bridge term loans ($1.5 billion asset-sale-linked, $1.0 billion two-year) to partly finance the Paramount Montney acquisition, with the asset-sale facility explicitly designed to be repaid from a planned divestiture.

debt financing

Agreed to acquire Paramount Resources' Montney upstream and midstream assets in the Grande Prairie and Zama regions of Alberta for CAD$3.325 billion cash plus a swap of Ovintiv's own Horn River Basin (BC) gas assets — expanding its core Canadian Montney position while trading away a lower-priority gas play.

material agreement

Completed the Permian acquisition for $3.241 billion cash (after closing adjustments) plus stock, funded by the new notes, cash on hand including North Dakota divestiture proceeds, and undrawn/terminated term-loan backup financing.

asset acquisition disposition

Closed the $2.3 billion senior notes offering, completing the financing lined up for the Permian acquisition.

debt financing

Priced $2.3 billion of new senior notes across four maturities (2025-2053) to fund the cash portion of the Permian acquisition, alongside planned proceeds from selling North Dakota (Bakken) upstream and midstream assets — funding the Permian bolt-on partly by exiting a lower-priority basin.

material agreement

Arranged an $825 million two-year term loan, contingent on closing, to help finance the Permian acquisition's cash consideration.

debt financing

Agreed to acquire Permian Basin upstream and midstream assets from EnCap Investments-backed Black Swan Oil & Gas, PetroLegacy II and Piedra Energy III/IV for $3.125 billion cash plus about 32.6 million Ovintiv shares — a major deepening of its core Permian position.

capital raising announcement

Merged Newfield Exploration Company (by then renamed Ovintiv Exploration Inc.) directly into Ovintiv Inc., with Ovintiv assuming Newfield's remaining note obligations outright — the final legal consolidation of the Newfield acquisition, two years after the corporate reorganization.

security holder rights change

Established new credit facilities for the newly formed Ovintiv: $2.5 billion revolving commitments in the US and $1.5 billion in Canada ($4 billion combined), maturing 2024 — ample liquidity backing the new corporate structure.

debt financing

Completed the reorganization: Encana shareholders approved the plan with more than 90% support, the 5-for-1 share consolidation and share exchange closed, and Encana Corporation formally became Ovintiv Inc., a Delaware corporation trading on the NYSE and TSX.

business combination

The amendment set 9 December 2019 as the record date for the Encana meeting and laid out what changes for holders in moving from a Canadian to a Delaware company: Encana's articles say nothing about where shareholders must sue, and derivative, oppression and dissent remedies run through specified Canadian courts, whereas Ovintiv's certificate designates the Delaware Court of Chancery as the exclusive forum. Dividend and withholding tax treatment will also diverge between Canadian and US holders.

business combination

Filed to reorganize Encana Corporation into a new company, Ovintiv Inc.: a Canadian plan of arrangement exchanging Encana shares 1-for-1 into the new parent after a 1-for-5 share consolidation, followed by Ovintiv's migration from Canada to become a Delaware corporation — a rebrand and US redomiciliation, not a merger with an outside party.

business combination