Ovintiv said on 26 August 2026 that it picked up 240 net drilling locations across the Permian and Montney basins through more than 60 separate deals closed this year.
The count is measured in net 10,000-foot equivalent wells, an industry measure that adjusts for varying lateral lengths so locations can be compared basin to basin. The transactions fall under the company's 2026 "ground game" acquisition program and covered about 41,000 net acres for a combined price of roughly $460 million.
Permian and Montney breakdown
In the Permian, Ovintiv added about 21,000 net acres and 120 well locations in the Midland Basin, split into 80 base locations and 40 upside locations, for roughly $230 million. In the Montney, it added roughly 20,000 net acres and 120 well locations in the liquids-rich Alberta oil window, comprising 110 base locations and 10 upside locations, for a similar $230 million.
| Basin | Net acres | Well locations | Base / upside | Cost |
|---|---|---|---|---|
| Permian (Midland) | ~21,000 | 120 | 80 / 40 | ~$230 million |
| Montney (Alberta) | ~20,000 | 120 | 110 / 10 | ~$230 million |
Year-to-date inventory total
Combined with its other 2026 activity, Ovintiv will have added about 500 net drilling locations this year, including 260 gained through organic inventory enhancement. The company expects its remaining pending transactions to close before the end of the year.
We reported last month that EON Resources began drilling the first of 92 planned Permian wells.
