M&A Deal Summary

Ovintiv Acquires Newfield Exploration

On November 1, 2018, Ovintiv acquired oil/gas exploration company Newfield Exploration for 5.5B USD

Acquisition Highlights
  • This is Ovintiv’s 2nd transaction in the Oil/Gas Exploration sector.
  • This is Ovintiv’s 2nd largest (disclosed) transaction.
  • This is Ovintiv’s 2nd transaction in the United States.
  • This is Ovintiv’s 2nd transaction in Texas.

M&A Deal Summary
Date 2018-11-01
Target Newfield Exploration
Sector Oil/Gas Exploration
Buyer(s) Ovintiv
Deal Type Add-on Acquisition
Deal Value 5.5B USD
Advisor(s) Scotia Capital, Inc. (Scotiabank - Global Banking and Markets) (Financial)
Kirkland & Ellis
Wachtell, Lipton, Rosen & Katz (Legal)

Target

Newfield Exploration

The Woodlands, Texas, United States
website
Newfield Exploration Co. is an independent energy company. Newfield is engaged in the exploration, development, and production of crude oil, natural gas, and natural gas liquids. The Company relies on a proven strategy of growing reserves through an active drilling program and select acquisitions. Newfield’s principal domestic areas of operation include the Mid-Continent, the Rocky Mountains and onshore Texas.

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Buyer(S) 1

Buyer

Ovintiv

Denver, Colorado, United States

website

Category Company
Founded 2020
Sector Oil/Gas Exploration
Employees1,916
Revenue 12.5B USD (2022)
DESCRIPTION

Ovintiv is a Canadian oil and gas exploration company. It is involved in the production and marketing of oil and natural gas and is based in Calgary. Ovintiv was founded in 2020 and is based in Denver, Colorado.

DEAL STATS #
Overall 2 of 2
Sector (Oil/Gas Exploration) 2 of 2
Type (Add-on Acquisition) 2 of 2
State (Texas) 2 of 2
Country (United States) 2 of 2
Year (2018) 1 of 1
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-01 Encana - San Juan Basin Assets

Calgary, Alberta, Canada

Encana Corp. - San Juan Basin Assets is a provider of an oil and gas exploration services across 182,000 net acres.

Sell -
Mergr

Product

Company

Legal