---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-089874"
form_type: "8-K"
ticker: "OVV"
cik: "0001792580"
company_name: "Ovintiv Inc."
filed_at: "2023-04-04T23:59:59+00:00"
generated_at: "2026-06-17T06:33:57.536448+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Ovintiv to acquire Permian assets for $3.125B cash + 32.6M shares; sells Bakken assets for $825M

## Summary
- Permian acquisition consideration: $3.125B cash plus 32,645,970 Ovintiv shares; effective date Jan 1, 2023.
- Bakken divestiture to Grayson Mill Bakken for $825M cash; expected close June 12, 2023.
- Ovintiv entered debt commitments: $825M term loan and $3.125B bridge loan to fund cash portion.
- Acquisition subject to HSR approval, other conditions; target close by June 27, 2023.
- Sellers get registration rights for Ovintiv shares issued as consideration.

## SEC filing metadata
- accession: 0001193125-23-089874
- form_type: 8-K
- ticker: OVV
- cik: 0001792580
- company_name: Ovintiv Inc.
- filed_at: 2023-04-04T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 3.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1792580/000119312523089874/0001193125-23-089874-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1792580/000119312523089874/d444841d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-089874
- JSON: https://secwatch.observer/filing/0001193125-23-089874.json
- Plain text: https://secwatch.observer/filing/0001193125-23-089874.txt

## Key facts
- Material Agreements
  Ovintiv Inc. entered into Securities Purchase Agreement with Black Swan Oil & Gas, LLC, PetroLegacy II Holdings, LLC, Piedra Energy III Holdings, LLC, Piedra Energy IV Holdings, LLC valued at $3.125 billion in cash and 32,645,970 million shares of Ovintiv common stock (effective 2023-04-03).
  - Action: entry
  - Agreement: asset purchase
  - Counterparty: Black Swan Oil & Gas, LLC, PetroLegacy II Holdings, LLC, Piedra Energy III Holdings, LLC, Piedra Energy IV Holdings, LLC
  - Value: $3.125 billion in cash and 32,645,970 million shares of Ovintiv common stock
  - Effective: 2023-04-03
  source text: On April 3, 2023, Ovintiv Inc. (“Ovintiv”), and its wholly-owned subsidiary, Ovintiv USA Inc. (the “OVV Buyer” and, together with Ovintiv, the “OVV Buyer Parties”), entered into a Securities Purchase Agreement (the “Purchase Agreement”) with Black Swan Oil & Gas, LLC, PetroLegacy II Holdings, LLC, Piedra Energy III Holdings, LLC, and Piedra Energy IV Holdings, LLC (collectively, the “Sellers”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1792580/000119312523089874/0001193125-23-089874-index.htm

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