Ovintiv expands Montney shale operations with $2.7 billion acquisition of NuVista Energy.

Ovintiv has acquired NuVista Energy for $2.7 billion, expanding its presence in the Montney shale. NuVista's core assets are in the Western Canadian Sedimentary Basin, focusing on the condensate-rich Montney formation. Ovintiv now has a significant presence in the Wapiti and Pipestone areas, with non-core operations in three additional Alberta areas. The acquisition enhances Ovintiv's oil and natural gas production and reserves in the region.