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Subsequent Events
12 Months Ended
Dec. 31, 2025
Subsequent Events [Abstract]  
Subsequent Events

28.

Subsequent Events

 

Acquisition of NuVista Energy Ltd.

 

On February 3, 2026, the Company closed its previously announced acquisition of all the issued and outstanding common shares of NuVista in a cash and stock transaction valued at approximately $2.8 billion (C$3.8 billion), including Ovintiv’s previous purchase of 18.5 million common shares of NuVista. The Company issued approximately 30.1 million shares of Ovintiv common stock and paid cash consideration of approximately $1.2 billion (C$1.6 billion), which was funded with proceeds from the Term Credit Agreement. Additionally, Ovintiv assumed NuVista’s debt, totaling approximately $282 million (C$385 million), which was subsequently repaid using proceeds from short-term borrowings and cash on hand. The acquisition is strategically located adjacent to Ovintiv’s current operations in the oil-rich Alberta Montney. The post-acquisition results of operations of NuVista will be included in the Company’s interim consolidated results for the period ended March 31, 2026.

Divestiture of Anadarko

On February 17, 2026, the Company announced it had entered into a definitive agreement to sell its Anadarko assets, located in Oklahoma, for cash proceeds of $3.0 billion before closing adjustments. The transaction is expected to close early in the second quarter of 2026 and is subject to customary closing conditions, regulatory approvals and closing adjustments. The transaction has an effective date of January 1, 2026.