Ovintiv - Oil Price Recovery and Acquisition of NuVista Energy Should Significantly Boost Results!
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Business Driver: Ovintiv (OVNV) has positioned itself as an oil and natural gas explorer in North America and Canada, with operations in the Permian Basin in Texas, the Montney Basin in Canada, and the Anadarko Basin in Oklahoma. With the acquisition of NuVista for $2.7 billion in cash, it aims to further strengthen its position. Thanks to the recent recovery in oil and natural gas prices, the outlook for operational business should also brighten. On February 3rd, Ovintiv received approval from the relevant competition authorities for the acquisition...
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