Ovintiv said on 26 October 2026 that it had agreed to acquire Logan Energy for C$1.40 per share in cash, a deal worth about US$890m (C$1.26bn) including Logan's net debt expected at closing.
Why Ovintiv Inc. is buying Logan Energy Corp.
Ovintiv described the deal as a bolt-on that adds oil-weighted production and infrastructure in the Montney. It brings about 266,000 net acres, about 20 MBOE/d of production, about 420 net 10,000-foot-equivalent oil well locations and two wholly owned oil batteries at Simonette. Ovintiv expects about US$60m of annual cost synergies and about 5% accretion to non-GAAP cash flow per share in 2027.
“This bolt-on transaction delivers value for our shareholders”
Deal terms and financing
The cash price represents a premium of about 17% to Logan's 20-day volume-weighted average price on the TSX Venture Exchange to 23 October 2026. Before closing, Logan will spin out Logan Oil Corp., holding assets outside the Montney and Duvernay, to its shareholders. Ovintiv will fund the deal with cash on hand, credit facility borrowings and commercial paper, and expects net debt below US$4bn after closing. Logan's directors and officers, holding about 16.6% of the shares, have signed support agreements.
Regulatory approvals and timing
The plan of arrangement requires approval by at least two-thirds of votes cast at a Logan meeting expected on or about 4 January 2027, approval of the Court of King's Bench of Alberta and Competition Act clearance. Completion is expected early in the first quarter of 2027.
