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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (148354)	4/3/2023 9:23:31 AM
From: Goose94	Read Replies (1) of 203382

Ovintiv (OVV-T) Makes US$4.3 Billion Bet On Shale The company formerly known as EnCana is making a splash in America’s energy heartland, with Ovintiv announcing a US$4.3 billion deal to acquire oil and gas assets from private equity firm EnCap investments in the Permian basin. The deal will add about 1,000 well locations to Ovintiv’s operations, along with about 65,000 acres in the Permian’s Midland Basin. Concurrent to the deal, Ovintiv has reached an agreement to sell the entirety of its Bakken assets in North Dakota’s Williston Basin to a different portfolio company of funds managed by EnCap for US$825 million. And just for good measure, Ovintiv is also returning some more cash to shareholders, announcing a 20 per cent quarterly dividend increase to boost the payout to $0.30 per share. BNN.ca

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