Ovintiv has closed the previously announced all cash sale of its Anadarko assets, located in Oklahoma, for $3.0 billion. After customary closing adjustments, proceeds from the sale are expected to total approx. $2.85 billion.
'The Anadarko sale completes the transformation of our portfolio and our balance sheet,' said Ovintiv President and CEO, Brendan McCracken. 'Proceeds from the sale will go to debt reduction, marking the achievement of our debt target and unlocking returns for our shareholders.'
In addition, the Company announced that it has issued a notice to the trustee of its 5.650% notes due 2028 to redeem the entire $700 million aggregate principal amount. The outstanding 2028 notes will be redeemed, pursuant to their terms and conditions, on April 20, 2026.
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Source: Ovintiv
