0001193125-26-149823
SEC filingOvintiv completed the $2.9 billion Anadarko asset sale, plans to terminate its NuVista acquisition credit agreement, and announced redemption of $700 million 5.650% Notes due 2028.
Ovintiv's completion of the Anadarko Sale marks a pivotal portfolio transformation, divesting 360,000 net acres in west-central Oklahoma for $2.9 billion cash after adjustments, with an effective date of January 1, 2026. This transaction, agreed on February 17, 2026, via a Purchase and Sale Agreement with MidCon II BuyerCo, LLC, generates substantial liquidity. Proceeds will immediately repay C$1.57 billion under the Two-Year Term Credit Agreement—originally entered November 25, 2025, by Ovintiv Canada ULC to fund the February 3, 2026, NuVista acquisition—plus interest, fully terminating that facility on April 10, 2026. Concurrently, Ovintiv issued a redemption notice for its entire $700 million 5.650% Notes due 2028, set for April 20, 2026, under the May 31, 2023, Indenture. Management highlights debt reduction to achieve targets, strengthening the balance sheet and unlocking shareholder returns, as stated by President and CEO Brendan McCracken. Exhibit 99.2 provides unaudited pro forma condensed combined financials as of and for the year ended December 31, 2025, illustrating impacts of the NuVista acquisition (adding Montney assets) and Anadarko divestiture, with preliminary adjustments for fair values and transaction costs.