---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-088906"
form_type: "8-K"
ticker: "OVV"
cik: "0001792580"
company_name: "Ovintiv Inc."
filed_at: "2023-04-03T23:59:59+00:00"
generated_at: "2026-06-17T07:11:17.789323+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.95
calibrated_materiality_score: 0.95
confidence: "high"
source: SEC EDGAR
---

# Ovintiv acquires Midland Basin assets for $4.275B, sells Bakken for $825M

## Summary
- Acquires ~65,000 net acres in Midland Basin from EnCap for $3.125B cash + 32.6M shares; valued at 2.8x NTM Adj. EBITDA.
- Divests entire Bakken position for $825M cash to Grayson Mill Bakken, an EnCap fund.
- Combined transactions immediately accretive; adds ~800 premium well locations; pro forma Permian oil nearly doubles to ~125 Mbbls/d.
- Board increases quarterly dividend 20% to $0.30/share, payable June 30, 2023; second increase in 12 months.
- Q1 total production ~510 MBOE/d (above guidance), capital ~$610-620M (low end).

## SEC filing metadata
- accession: 0001193125-23-088906
- form_type: 8-K
- ticker: OVV
- cik: 0001792580
- company_name: Ovintiv Inc.
- filed_at: 2023-04-03T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.95
- calibrated_materiality_score: 0.95
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1792580/000119312523088906/0001193125-23-088906-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1792580/000119312523088906/d428844d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-088906
- JSON: https://secwatch.observer/filing/0001193125-23-088906.json
- Plain text: https://secwatch.observer/filing/0001193125-23-088906.txt

## Key facts
- Earnings Releases
  Ovintiv Inc. reported preliminary financial results for first quarter 2023.
  - Period: first quarter 2023
  - Result: preliminary results
  source text: Strong first quarter production exceeds Company guidance with total volumes of approximately 510 thousand barrels of oil equivalent per day (“MBOE/d”), including approximately 165 thousand barrels per day (“Mbbls/d”) of oil and condensate; expected first quarter capital of $610 to $620 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/1792580/000119312523088906/0001193125-23-088906-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.