Latest News and Analysis
Deals and Transactions
Track Drilling (Rigs by operator) | Completions (Frac Spreads)

    emailEmail    |    bookmarkBookmark

Ovintiv Inc → Newfield Exploration Co.- One-Page Deal Sheet

Announced Date
November 01,2018
Close Date
February 13,2019
Transaction Type
Corporate
Enterprise Value (EV)($MM)
7700




Snapshot
Net Acres
880,000
Proved Reserves
678 MMboe

Source Documents:
   Source Link
   Source Link
   Source Link
Location
Region
Mid-Continent - Arkoma Basin,Mid-Continent - Anadarko Basin,Williston Basin

Country
United States

State
Utah

Play
Bakken Shale & Three Forks,STACK & SCOOP,Arkoma-Basin


Production & Reserves
Production
199,000 Boe/d

Production Mix
61 % Liquid

Reserves
678 MMboe (1P)


Calculated Metrics( EV/Category)
$/ Flowing
38,693

$/ Acre
8,750

$/EBITDA
5,500,000

Transaction Details: 

Encana Corp. has inked a deal to acquire Newfield Exploration in an all-stock transaction valued at approximately $5.5 billion. In addition, Encana will assume $2.2 billion of Newfield net debt.

 

Newfield asset snapshot used in the deal

Production (NFX standalone, Q3-2018):

  • Oil & condensate: 74 Mbbl/d

  • NGLs: 48 Mbbl/d

  • Gas: 462 MMcf/d

  • Total: 199 Mboe/d. GlobeNewswire

Reserves (1P, YE2017):

  • Total proved: 680 MMBOE

    • Oil & condensate: 250 MMBbl (248 domestic + 2 China)

    • NGLs: 146 MMBbl

    • Natural gas: 1,704 Bcf. CloudFront+1

Acreage (YE2017):

  • Company-wide: ~2,215k gross / 1,105k net acres (developed 1,718k gross / 880k net; undeveloped 497k gross / 225k net). CloudFront

  • Anadarko Basin (STACK/SCOOP): ~680k gross / 369k net (developed + undeveloped). CloudFront

  • Deal highlight (STACK/SCOOP “core-of-core”): ~360k net acres. GlobeNewswire

Inventory / locations: “6,000+ gross risked well locations” in STACK/SCOOP and “~3 Bboe net unrisked resource”. GlobeNewswire

Profitability metrics (NFX, TTM to Sep 30, 2018):

  • EBITDA: $1,171 M

  • EBITDAX: $1,445 M (adds back exploration and other permitted adjustments; reconciliation disclosed in SEC filing). SEC

 

360,000 net acres
~6,000 gross risked locations
144 MBOE/d Q3 2018 production (60% liquids)

 

 

 

 



Price History


Date Deal Headline Price$/acre
Jul-08-2024 Devon To Acquired PE-Backed Grayson Mill For $5 Billion - -
Feb-21-2024 Chord Energy and Enerplus to Combine in $11 Billion Transaction Creating Premier Williston-Focused E&P Company - -
Apr-03-2023 Grayson Mill Adds More Bakken, Acquires Ovintiv's Assets For $825 Million - -

Other Newfield Exploration Co. Deals


Announced DateBuyerSellerDeal Value($mm)LocationCategory
Aug-03-2016 - - Click here Texas  E&P
May-05-2016 - - Click here Oklahoma  E&P
Jul-30-2014 - - Click here Oklahoma  E&P
Oct-22-2013 - - Click here Texas  E&P
Sep-18-2012 - - Click here   E&P

Other Ovintiv Inc Deals


Announced DateBuyerSellerDeal Value($mm)LocationCategory
Nov-14-2024 - - Click here Utah  E&P
Nov-06-2024 - - Click here Alberta  E&P
Apr-03-2023 - - Click here Texas  E&P
Apr-03-2023 - - Click here North Dakota  E&P
Jul-06-2022 - - Click here Montana  E&P