The acquisition program splits evenly between the two regions, with $230 million allocated to each. In the Midland basin of the Permian, the firm added 21,000 net acres and 120 well locations. A similar capital commitment in the liquids-rich Alberta oil window of the Montney yielded 20,000 net acres and another 120 locations. These assets were picked up at an average valuation of approximately $11,000 per net acre.

Including organic inventory enhancements, Ovintiv has now added 500 net 10,000-foot equivalent well locations to its books since the start of 2026. The company expects the remaining pending transactions from this year’s ground game to close by the end of the fourth quarter.