TrentKlarenbach
Oct 27, 3:07 AM
Friday's rumour is now a signed cheque.
Ovintiv will buy Logan Energy for C
$1.40 a share in cash.
That's about US
$890 million, or C
$1.26 billion including debt.
Ovintiv picks up roughly 266,000 net Montney acres and about 420 net drilling locations.
That takes its core Montney footprint to about 720,000 net acres, with
$60 million a year in expected cost synergies.
Logan's non-core assets get spun out to shareholders as Logan Oil Corp.
$OVV $LOECF
https://www.commodityape.ca/p/teck-s-biggest-copper-mine-walks-off-the-job-and-ovintiv-turns-a-rumour-into-a-1-26-billion-cheque
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