Ovintiv to acquire Logan Energy for C$1.40 a share in cash and spin out Logan Oil
Calgary-based Logan Energy agrees to a C$1.26 billion takeover by Ovintiv, with shareholders also receiving shares in a new spin-out, Logan Oil.
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what happened
According to TradingView, citing the company's press release, Logan Energy Corp. has signed a definitive agreement to be acquired by Ovintiv Inc. Ovintiv Canada will buy all Logan shares for C$1.40 each in cash. The deal values Logan at about C$1.26 billion including assumed net debt.
Shareholders will also receive shares of Logan Oil, a newly formed company to be spun out in the transaction. Its initial equity value is about C$0.08 per Logan share, bringing total consideration to C$1.48 per share. Logan Oil's assets will include the Sawn Lake SAGD project in Alberta, bought from Andora Energy, and the Woodcote acquisition. Closing is expected in early Q1 2027, with a special meeting around January 4, 2027.
why it matters
For energy markets, the deal shows continued interest from larger buyers in Montney and Alberta assets. The company says the cash component represents a premium of about 17% to its 20-day VWAP, a relevant benchmark for small-cap oil and gas valuations in Canada.
market impact
Canadian oil and gas small caps: takeover interest in Alberta assets supports valuations of similar producers
tags
instruments
sources
- LOGAN ENERGY CORP. ANNOUNCES AGREEMENT TO BE ACQUIRED BY OVINTIV INC., FOR $1.40 PER SHARE IN CASH AND THE SPIN-OUT OF LOGAN OIL CORP., A NEW GROWTH-ORIENTED OIL COMPANY — TradingView, 26 October 2026 at 10:45 UTC
- Logan Energy Announces Agreement To Be Acquired By Ovintiv For $1.40 Per Share In Cash And The Spin-Out Of Logan Oil — Reuters, 26 October 2026 at 10:55 UTC
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