Update: Market Chatter: Ovintiv Explores Divesture of Oil Asset in Uinta Basin-February 2024-www.financetom.com

Update: Market Chatter: Ovintiv Explores Divesture of Oil Asset in Uinta Basin

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Update: Market Chatter: Ovintiv Explores Divesture of Oil Asset in Uinta Basin

Aug 22, 2024 1:20 AM

02:43 PM EDT, 08/21/2024 (MT Newswires) -- (Updates with additional details and MT Newswires' attempt for comment from Ovintiv ( OVV ).)

Ovintiv ( OVV ) is weighing a possible sale of its oil operations in the Uinta Basin in Utah for as much as $2 billion, Bloomberg reported Wednesday, citing people with knowledge of the matter.

The company is working with an adviser on gauging buyer interest in the asset, according to the news outlet.

Ovintiv ( OVV ) is in the early stages of deliberations with no certainty a transaction will be complete, the people said, according to the report.

The company did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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