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Oil Updated: October 26, 2026 at 9:44a.m. EDT Published: October 26, 2026 at 8:45a.m. EDT The Ovintiv logo is shown in this undated handout photo.
THE CANADIAN PRESS/Handout-Ovintiv (Mandatory Credit) Ovintiv Inc. has signed a deal to buy Logan Energy Corp. in an agreement valued at $1.26 billion, including the assumption of debt. The company says the deal is expected to add approximately 266,000 net acres and about 20,000 barrels of oil equivalent per day of production in the Montney region. The acquisition also includes two new oil batteries and interests in two natural gas processing facilities.
Under the agreement, Ovintiv will pay $1.40 per share in cash for Logan Energy. Stay on top of your portfolio with real-time data, historical charts and the latest news on oil Logan Energy shareholders will also receive 0.0817 of a share, in a new company, Logan Oil, plus 0.05 of a Logan Oil purchase warrant for each Logan Energy share they hold. Each whole warrant will entitle the holder to buy one Logan Oil share at an exercise price of $1 per share, within 60 days following the closing date.
This report by The Canadian Press was first published Oct. 26, 2026. How to set BNN Bloomberg as your preferred source on Google
Source: BNN Bloomberg
