Ovintiv Sells Anadarko Assets for $3 Billion

The sale includes 360,000 net acres and production of 90,000 barrels of oil equivalent per day.

Published on Feb. 20, 2026

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Ovintiv Inc. announced it has entered into a definitive agreement to sell its Anadarko assets in Oklahoma to an undisclosed buyer for $3.0 billion in cash. The sale includes approximately 360,000 net acres, which represents substantially all of the company's acreage in the play, and current production of around 90,000 barrels of oil equivalent per day.

Why it matters

The sale of the Anadarko assets marks a significant milestone for Ovintiv as it focuses its portfolio, delivers on its debt target, and unlocks increased returns for shareholders. The company plans to reinvest the proceeds to further develop its premium inventory positions in the Permian and Montney basins, which it believes will drive superior returns for shareholders.

The details

Under the terms of the agreement, Ovintiv will sell its Anadarko assets, including approximately 360,000 net acres and current production of around 90,000 barrels of oil equivalent per day, to an undisclosed buyer for $3.0 billion in cash. The transaction is expected to close in the second quarter of 2026 with an effective date of January 1, 2026.

  • Ovintiv announced the sale agreement on February 17, 2026.
  • The transaction is expected to close in the second quarter of 2026 with an effective date of January 1, 2026.

The players

Ovintiv Inc.

An energy company focused on developing its premium inventory positions in the Permian and Montney basins.

Brendan McCracken

Ovintiv's President and CEO.

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What they’re saying

“This transaction marks a significant milestone by focusing our portfolio, delivering on our debt target, and unlocking increased returns to our shareholders.”

— Brendan McCracken, President and CEO, Ovintiv (Ovintiv Press Release)

What’s next

Ovintiv plans to issue its full-year and first quarter 2026 guidance and its updated shareholder return framework with the release of its fourth-quarter and full-year 2025 results on February 23, 2026.

The takeaway

The sale of Ovintiv's Anadarko assets allows the company to streamline its portfolio and focus on its core positions in the Permian and Montney basins, which it believes will drive superior returns for shareholders in the years to come.