Oil & Gas

The process began earlier this year after the energy giant announced it was reviewing the century-old unit as part of a broader portfolio shift.

The transaction adds an estimated 930 high-return drilling locations and 140,000 net acres, 70% of which are undeveloped, adjacent to Ovintiv’s Alberta Montney operations.

The assets include producing fields such as Hunt, Rose Creek, Shoshone North and West Oregon Basin.

The acquisition adds assets, including Guyana and U.S. Bakken, to Chevron’s portfolio.

The acquisition, announced in October 2023, is one of the oil industry's biggest deals in years.