Ovintiv Gains Shareholder Approval for NuVista Energy Acquisition, Strengthening Market Position

Ovintiv's Strategic Move: NuVista Energy Acquisition Approved by Shareholders

In a significant development for the North American energy landscape, Ovintiv Inc. secures overwhelming support for its acquisition of NuVista Energy Ltd. During a special meeting held on January 23, 2026, approximately 99% of NuVista shareholders approve the proposed arrangement with Ovintiv, a clear indication of confidence in the transaction. The acquisition not only consolidates Ovintiv's market position but also promises to synergize operations between the two companies, enhancing efficiencies and expanding their resource portfolio.

Following the shareholder approval, the Court of King's Bench of Alberta grants a Final Order for the transaction, which is poised to close pending the necessary approvals under the Investment Canada Act. This judicial backing underscores the legal and regulatory confidence in the merger, paving the way for a smoother transition. The acquisition is expected to create a more robust entity capable of navigating the complexities of the energy sector, particularly in the face of evolving market dynamics and increasing competition.

NuVista shareholders had the opportunity to choose their preferred form of consideration ahead of the meeting, with options including either CAD $18.00 in cash per share or 0.344 shares in Ovintiv's common stock. This flexibility in consideration is indicative of Ovintiv's commitment to ensuring shareholder satisfaction while advancing its growth strategy. As the transaction progresses towards completion, it is anticipated that the merger will not only bolster Ovintiv’s asset base but also enhance its operational capabilities within the energy market.

In addition to the approval, NuVista has made detailed voting results available on its profile on SEDAR+, providing transparency to stakeholders. The successful move signifies a critical step for Ovintiv as it continues to fortify its strategic initiatives and reaffirm its position as a leading player in the energy sector, preparing for future growth opportunities and market challenges.

As the energy market continues to evolve, this acquisition could be pivotal for both companies, enabling them to leverage combined resources and expertise to drive innovation and operational excellence in a competitive industry.