Ovintiv Inc. announced on Wednesday the sale of its Uinta assets located in northeastern Utah. According to the press release, Ovintiv closed on the previously announced all cash sale of its Uinta assets to FourPoint Resources, LLC, for approximately $2 billion dollars. Ovintiv President and CEO, Brendan McCracken, says, “The Uinta sale builds on our track record of unlocking significant value from our non-core assets while focusing our portfolio and extending inventory runway in our core areas.” Ovintiv notes that the Uinta assets sale closed before their previously announced acquisition of Alberta Montney assets. That acquisition is expected to close before the end of the first quarter.
