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Ovintiv Looking to Sell Eagle Ford Asset Sale
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Ovintiv Inc. is nearing striking an agreement to sell its Eagle Ford portfolio, according to a report by Reuters.
Citing sources faimilar with the matter, the report stated that PE firm Pontem Energy Capital is the prospective buyer of the assets.
According to estimates, the deal could have a price tag of over $800 million.
Ovintiv is actively looking to reduce its debt load to by $1.25 billion this year, and the sale of its Eagle Ford assets would be a crucial part of that plan.
The company has current debt levels of $6.885 billion, per its Q4 2020 report.
Ovintiv's Eagle Ford Assets
The asset is primarily in Karnes County, TX and encompasses 42,000 net acres.
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