Ovintiv Inc

Logan’s Ovintiv Deal Pairs a Montney Cash Exit With New Heavy-Oil Development

Logan shareholders would receive C$1.40 per share in cash and an interest in a new heavy-oil company. Logan Oil’s planned C$120 million financing would leave C$50 million after Woodcote’s cash purchase price, before fees and other spending. Its development capacity will depend on operating cash generation and Sawn Lake’s capital requirements.