07:07 AM EDT, 08/22/2024 (MT Newswires) -- (Updates with additional details and the company's response to MT Newswires' request for comment.)

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.

In response to MT Newswires' request for a statement on the matter, the company said it does not comment on rumored acquisition or divestiture activities.

(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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