ovintiv inc ovv ovv said monday it has agreed to acquire all leaeshold and related assets of black swan oil  gas petrolegacy energy and piedra resources in a cashandstock deal valued at about 4275 billion the three companies are portfolio companies of funds managed by encap investments lp the deal will add about 1050 net 10000 foot well locations to ovintiv’s permian inventory and approximately 65000 net acres in the core of the midland basin the sellers will receive about 326 million ovintiv shares and 3125 billion of cash ovintiv is also planning to sell all of its bakken assets located in the willison basin of north dakota to grayson mill bakken llc for about 825 million in cash grayson mill is also a portfolio company of funds managed by encap ovintiv also said its board has approved a 20 hike in its quarterly dividend to 30 cents a share it is now expecting 2023 total production of 520 to 545 mboed up from earlier guidance of 500 to 525 the stock rose 54 premarket but is down 35 in the last 12 months while the sp 500 spx has fallen 10