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DENVER, Nov. 20, 2023 /PRNewswire/ – Ovintiv Inc. ( NYSE: OVV ), ( TSX: OVV ) (the “Company” or “Ovintiv”) today announced that NMB Stock Trust, a Delaware statutory trust (the “Selling Stockholder”), intends to offer for sale 8,400,000 shares of the Company’s common stock, par value US$0.01 per share, pursuant to the Company’s shelf registration statement previously filed with the Securities and Exchange Commission (the “Offering”). Ovintiv issued the shares to the Selling Stockholder on June 12, 2023 as part of the consideration for the Company’s acquisition of certain upstream oil and gas assets located in the Permian Basin from portfolio companies of funds managed by EnCap Investments L.P. The Offering consists entirely of secondary shares to be sold by the Selling Stockholder. The Selling Stockholder will receive all of the net proceeds from the Offering. Ovintiv is not offering any shares of common stock in the Offering and will not receive any proceeds from the sale of shares in the Offering. The Offering is subject to market and other conditions, and there can be no assurance as to whether or when the Offering may be completed. In addition, the Company announced that the Company intends to repurchase […]
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