Mr. Brendan McCracken reports

OVINTIV ANNOUNCES CLOSING OF ANADARKO ASSET SALE

Ovintiv Inc. has closed the previously announced all-cash sale of its Anadarko assets, located in Oklahoma, for $3-billion. After customary closing adjustments, proceeds from the sale are expected to total approximately $2.85-billion.

"The Anadarko sale completes the transformation of our portfolio and our balance sheet," said Ovintiv president and chief executive officer Brendan McCracken. "Proceeds from the sale will go to debt reduction, marking the achievement of our debt target and unlocking returns for our shareholders."

In addition, the company today announced that it has issued a notice to the trustee of its 5.650 per cent notes due 2028 to redeem the entire $700-million aggregate principal amount. The outstanding 2028 notes will be redeemed, pursuant to their terms and conditions, on April 20, 2026.

Important information

Ovintiv reports in U.S. dollars unless otherwise noted.

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