Ovintiv to buy Canadian producer Logan Energy in a US$890-million all-cash deal

Cash per Logan share

1.40 $

Ovintiv would pay C$1.40 in cash for each Logan share. With shares in a spun-out company and warrants, shareholders would get about C$1.48 per share in total.

What Ovintiv gets

• About 266,000 net acres in the Montney
• About 20,000 barrels of oil equivalent a day
• About 420 net drilling locations
• Two oil batteries, two gas-plant stakes

The deal adds about 266,000 net acres in the oil-rich Montney region and roughly 20,000 barrels of oil equivalent a day of production. It also brings about 420 net drilling locations.

What's next

Logan will spin off its new subsidiary, Logan Oil Corp, to its shareholders as part of the deal. The deal is expected to close early in the first quarter of 2027.