Calgary’s NuVista Energy Sold for $2.7 Billion: What It Means for Locals

Calgary's energy landscape just saw a major shake-up! On November 4, 2025, Denver-based Ovintiv acquired local player NuVista Energy for approximately $2.7 billion (C$3.8 billion), including net debt. This massive deal shines a spotlight on Calgary's continued relevance in the global energy market.

Amidst ongoing efforts for economic diversification, Calgary's energy sector shows strong resilience and continues to attract significant investment. NuVista Energy is known for its focus on condensate-rich natural gas in the Montney formation, a key resource in the Alberta Deep Basin. This acquisition by a major North American producer like Ovintiv, originally a Canadian company before its 2020 restructuring, underscores the value of Calgary's assets.

While immediate shifts might not be obvious, the acquisition could spark new local job opportunities and influence energy prices for Calgarians. It’s a powerful reminder of our city's vital role in the energy sector and the ripple effects of international investments on our economy.