North American shale company Ovintiv sells Eagle Ford assets in Texas to Validus for $880 million

Thursday, 25 March 2021

Ovintiv Inc., the shale oil and gas company with assets in key basins in North America, has signed an agreement to sell its Eagle Ford resources in south Texas to Validus Energy for $880 million to reduce debts as exploration and production companies in the LNG-exporting region of the US Gulf Coast have been badly hit by the combined oil price and Covid-19 slump since early 2020.

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