Denver-based Ovintiv Inc. streamlined the business during 1Q2021 to focus only on the Anadarko, Montney and Permian basins as it eyes slashing debt to appease restless investors.

debt reduction

With long-held but neglected shale properties in Canada’s Duvernay and the South Texas Eagle Ford sold off, the independent has accelerated a $4.5 billion total debt target timeline to the first half of 2022, CEO Doug Suttles said during the quarterly conference call. 

Under pressure from activist investors to improve financial and environmental performance, the Eagle Ford assets were sold for $880 million and the Duvernay properties were dropped for $263 million. 

“We are focused on generating free cash flow and delivering quality returns,” Suttles told investors. “Our priorities today are...