U.S.-based Ovintiv Inc. has agreed to acquire NuVista Energy Ltd. in a cash and stock deal valued at $3.8 billion.
Through the terms of the deal, Ovintiv will acquire all of the outstanding shares of Calgary-based NuVista at an average price of approximately $17.80 per share.
NuVista says in a press release that the purchase price implies a 21 per cent premium.
Ovintiv, which moved its headquarters from Calgary to Denver, Colo. in 2020, says the acquisition will see it add about 100,000 barrels of oil equivalent per day from Alberta’s Montney region.
The transaction is subject to closing conditions and is expected to close by the end of the first quarter next year.
The deal is just the latest consolidation in the oilpatch, as Cenovus Energy Inc. is working to close its $8.6-billion acquisition of MEG Energy Corp.
This report by The Canadian Press was first published Nov. 4, 2025.
Companies in this story: (TSX:NVA)
