Mergers & Acquisitions ·
Ovintiv agrees to acquire Logan Energy for C$1.40 per share in all-cash deal valued at approximately $890 million
OVVOvintiv Inc.
Ovintiv has entered into a definitive Arrangement Agreement to acquire all outstanding shares of Logan Energy Corp. in an all-cash transaction offering C$1.40 per Logan Common Share. The deal values Logan at approximately $890 million, including the assumption of net debt. Ovintiv will acquire Logan's assets in the Montney oil window, adding roughly 266,000 net acres and approximately 20 thousand barrels of oil equivalent per day in production. The transaction is expected to close early in the first quarter of 2027, subject to shareholder, court, and regulatory approvals. Ovintiv anticipates the acquisition will be immediately accretive to cash flow per share and generate annual cost synergies of approximately $60 million. Ovintiv operates as an independent oil and gas exploration and production company focused on unconventional resources in North America.