Ovintiv closes $2.307B Montney acquisition; pro forma EPS rises to $8.65 (FY2023)

Ovintiv Inc.

Acquisition adds ~109,000 net acres and ~900 net well locations in Montney formation from Paramount Resources.
Acquired assets: FY2023 operating income C$820M on revenue C$1,228M; 9M2024 operating income C$457M on revenue C$775M.
Pro forma combined: FY2023 diluted EPS $8.65 vs historical $7.90; 9M2024 diluted EPS $4.46 vs $4.41.
Funding from $2.0B Uinta sale (closed Jan 22, 2025) plus short-term borrowings; purchase price $2.307B (C$3.325B).

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