The acquisition program splits evenly between the two regions, with $230 million allocated to each. In the Midland basin of the Permian, the firm added 21,000 net acres and 120 well locations. A similar capital commitment in the liquids-rich Alberta oil window of the Montney yielded 20,000 net acres and another 120 locations. These assets were picked up at an average valuation of approximately $11,000 per net acre.
Ovintiv Expands Drilling Inventory with $460 Million Land Buy
Ovintiv Inc. has finalized over 60 transactions year-to-date, securing 41,000 net acres across its Permian and Montney assets. The $460 million investment bolsters the company’s drilling portfolio by 240 net 10,000-foot equivalent well locations, signaling a strategic push to deepen its core operational footprint in North America.
Including organic inventory enhancements, Ovintiv has now added 500 net 10,000-foot equivalent well locations to its books since the start of 2026. The company expects the remaining pending transactions from this year’s ground game to close by the end of the fourth quarter.
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