The deal will add about 70,000 barrels of oil per day
The deal will add about 70,000 barrels of oil equivalent per day of production.
Ovintiv says the assets are strategically located near its current operations and have access to midstream infrastructure with available capacity.
The company also announced it has signed a deal to sell substantially all of its Uinta Basin assets in Utah, to FourPoint Resources, LLC, for total cash proceeds of about US$2.0 billion.
Cash from the Uinta deal is expected to be used to help fund the Montney acquisition.