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Ovintiv Inc OVV

Alternate Symbol(s):  T.OVV

Ovintiv Inc. is an oil and natural gas exploration and production company. The Company is focused on the development of its multi-basin portfolio of top tier oil and natural gas assets located in the United States and Canada. Its operations also include the marketing of oil, natural gas liquids (NGLs) and natural gas. Its segments include USA Operations, Canadian Operations, and Market Optimization. USA Operations segment includes the exploration for, development of, and production of oil, NGLs, natural gas and other related activities within the United States. Canadian Operations segment includes the exploration for, development of, and production of oil, NGLs, natural gas and other activities within Canada. Market Optimization segment is primarily responsible for the sale of the Company’s production to third-party customers and enhancing the associated netback price. The segment’s activities also include third-party purchases and sales of product to provide operational flexibility.


NYSE:OVV - Post by User

Bullboard Posts
Post by marpincanon Aug 26, 2016 11:19am
262 Views
Post# 25180227

Permian assets hot!

Permian assets hot!permian assets cost more now than what ECA paid.

Blackstone yesterday announced an agreement to invest $1.5B in a pair of drilling deals in West Texas, and committed another $500M to a group which has just purchased 16K acres in another area of the Permian Basin. The Blackstone (NYSE:BX) money for the deals came from an $8B pool raised early last year, but had mostly sat untapped. Other investors of late include Wilbur Ross, EIG Global Energy Partners and Apollo Global (NYSE:APO). Wall Street's rush could be a sign of a bottom... or a bubble - in some cases properties are going for higher prices that exceed those paid when oil was above $100 per barrel two years ago. "There's this one corner of the world, the Permian Basin, where investors will keep financing you to keep on acquiring," says Parsley Energy (NYSE:PE) CEO Bryan Sheffield, whose company has sold stock to buy land five times since 2014 (including a sale last week). PDC Energy (NASDAQ:PDCE) shot higher earlier this week on an agreement to buy $1.5B of Permian fields for an NY investment firm. "It's like musical chairs," says a Dallas portfolio manager. "At some point in time, there’s not going to be a chair, and [oil producers] want to make sure they have a seat."
Bullboard Posts