Ovintiv to Buy Logan Energy in Roughly $890 Million Deal
The acquisition is expected to add about 266,000 net acres and 420 10,000-foot equivalent oil well locations to Ovintiv’s existing assets.
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Oil and gas producer Ovintiv NYSE:OVV said on Monday it would acquire Canadian producer Logan Energy TSXV:LGN in an all-cash deal valuing the company at about $890 million, including debt.Here are more details:($1 = 1.4020 Canadian dollars)
By Robb M. StewartOvintiv is extending its reach in Western Canada with a roughly $890 million deal to buy Alberta-based Logan Energy.The bolt-on acquisition is expected to add about 266,000 net acres and 420 10,000-foot equivalent oil well locations to the Denver-based energy company's existing as…