Ovintiv Expands in Canada’s Montney Shale With $2.4 Billion Deal ...Middle East

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Ovintiv Expands in Canada’s Montney Shale With $2.4 Billion Deal
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The oil and gas industry’s mergers and acquisitions continue to expand to Canada, with Ovintiv agreeing to buy assets of Paramount Resources in the Montney shale play for US$2.37 billion (C$3.325 billion). Under the terms of the deal announced on Thursday, Paramount Resources will sell to Ovintiv its Karr, Wapiti, and Zama properties in the Montney shale play for US$2.37 billion (C$3.325 billion) in cash plus certain properties of Ovintiv in the Horn River Basin, a major shale gas play in British Columbia. The assets Paramount Resources is…

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