Ovintiv Inc. considers $2bn Uinta Basin operations sale in Utah to focus on Permian Basin.

Ovintiv Inc., a US energy firm, is considering the sale of its Uinta Basin operations in Utah, valued at up to $2bn. The sale would focus the company on its Permian Basin operations in Texas and New Mexico, and may face scrutiny from the Federal Trade Commission due to Salt Lake City refineries' reliance on Uinta Basin. Since the end of 2022, Utah's oil production has grown by nearly 40%.

August 21, 2024
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