09:17 AM EST, 01/31/2025 (MT Newswires) -- Ovintiv ( OVV ) said Friday that it has closed its $2.31 billion acquisition of certain Montney assets in Alberta, Canada from Paramount Resources.

The company said the acquisition price was lowered from the $2.38 billion quoted when it was announced in November due to currency swaps. Ovintiv ( OVV ) said the currency swaps were used to manage the risk associated with buying an asset in Canadian dollars.

Ovintiv ( OVV ) said the acquisition adds approximately 70 thousand barrels of oil equivalent production per day and is accretive immediately as well as long-term across "key financial metrics."