Ovintiv in talks to sell its Eagle Ford acreage for $800M – Reuters

Ovintiv Inc. is in advanced conversations with privately owned energy investment firm Pontem Energy Capital to divest Ovintiv's holding in the Eagle Ford acreage for about $800 million, according to a March 12 Reuters report.

The Eagle Ford would be part of Ovintiv's plan to bring in $1 billion through asset divestitures in a multi-year effort to reduce debt, according to the news report. Should the deal go forward, it could be disclosed as soon as next week, Reuters wrote.

Ovintiv revealed its initial interest to sell the Eagle Ford assets in November 2020.

In February, Ovintiv disclosed that it plans to sell its Duvernay assets in Alberta.