M&A Deal Summary

FourPoint Energy Acquires Ovintiv - Uinta Basin assets

On November 14, 2024, FourPoint Energy acquired oil/gas exploration company Ovintiv - Uinta Basin assets from Ovintiv for 2.0B USD

Acquisition Highlights
  • This is FourPoint Energy’s 1st transaction in the Oil/Gas Exploration sector.
  • This is FourPoint Energy’s largest (disclosed) transaction.
  • This is FourPoint Energy’s 1st transaction in the United States.

M&A Deal Summary

Date 2024-11-14
Target Ovintiv - Uinta Basin assets
Sector Oil/Gas Exploration
Buyer(s) FourPoint Energy
Sellers(s) Ovintiv
Deal Type Divestiture
Deal Value 2.0B USD

Target

Ovintiv - Uinta Basin assets

United States
Ovintiv's Uinta Basin assets is a provider of an oil and gas exploration services across 126,000 net acres and production of 29 Mbbls/d.

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Buyer(S) 1

Buyer

FourPoint Energy

Denver, Colorado, United States

Category Company
Founded 2013
Sector Oil/Gas Exploration
DESCRIPTION

FourPoint Energy is an operator of a private oil and gas exploration and production company. FourPoint Energy was founded in 2013 and is based in Denver, Colorado.


DEAL STATS #
Overall 1 of 1
Sector (Oil/Gas Exploration) 1 of 1
Type (Divestiture) 1 of 1
Country (United States) 1 of 1
Year (2024) 1 of 1
Size (of disclosed) 1 of 1

Seller(S) 1

SELLER

Ovintiv

Denver, Colorado, United States

Category Company
Founded 2020
Sector Oil/Gas Exploration
Employees1,743
Revenue 10.9B USD (2023)
DESCRIPTION

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


DEAL STATS #
Overall 6 of 6
Sector (Oil/Gas Exploration) 6 of 6
Type (Divestiture) 4 of 4
Country (United States) 2 of 2
Year (2024) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-01 Newfield Exploration

The Woodlands, Texas, United States

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.

Buy $5.5B