05:13 PM EST, 01/22/2025 (MT Newswires) -- Ovintiv ( OVV ) after close of trading Wednesday said it closed the US$2-billion sale of its oil and gas properties in Utah's Uinta Basin to FourPoint Resources.

Ovintiv's ( OVV ) previously announced US$2.38-billion acquisition of Alberta Montney assets from Paramount Resources (POU.TO) is expected to close before the end of the first quarter.

"The Uinta sale builds on our track record of unlocking significant value from our non-core assets while focusing our portfolio and extending inventory runway in our core areas," said chief executive Brendan McCracken.

Ovintiv ( OVV ) shares closed down $0.02 to $65.09 on the Toronto Stock Exchange.