By Elias Schisgall

Ovintiv agreed to sell about 360,000 net acres of land in the Anadarko Basin in Oklahoma for $3 billion.

The natural-gas company said Tuesday that the land has produced about 90,000 barrels of oil equivalent per day so far in February.

It didn't disclose the buyer.

The sale encompasses nearly all of the company's acreage in the Anadarko Basin, it said.

"This transaction marks a significant milestone by focusing our portfolio, delivering on our debt target, and unlocking increased returns to our shareholders," Chief Executive Brendan McCracken said.

"We have built one of the deepest premium inventory positions in our industry in the two most valuable plays in North America, the Permian and the Montney," McCracken added. "This positions us to deliver superior returns for our shareholders for many years to come."

The transaction is expected to close in the second quarter with an effective date of Jan. 1.

Wells Fargo served as financial adviser for the transaction.

Write to Elias Schisgall at elias.schisgall@wsj.com

(END) Dow Jones Newswires

February 17, 2026 17:41 ET (22:41 GMT)

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