The Financial Post reports in its Monday edition that Ovintiv's recent $3.8-billion acquisition of NuVista Energy highlights two key themes in the oil patch. The Post's Chris Varcoe writes that first, it signals Ovintiv's focus shift toward Canada, as it divests U.S. assets to concentrate on the Permian basin in Texas and the Montney formation in Western Canada. Michael Tims, vice-chair of Matco Investments, noted it reflects a strategic portfolio repositioning toward Canada. Additionally, it emphasizes the ongoing interest from Canadian and U.S. buyers in expanding operations within the Montney and Duvernay formations in British Columbia and Alberta. Ninepoint Partners manager Eric Nuttall says, "It's yet another example of the mid-cap space being hollowed out." Ninepoint is one of NuVista's largest shareholders. Under an agreement announced Tuesday, Ovintiv offered about $18 per share in cash and stock under a friendly deal. Denver-based Ovintiv has a long history in the Montney, as does its chief executive officer, Brendan McCracken. He says: "I was around when we drilled some of the first (Montney) horizontal wells in 2006. ... . They're the largest remaining undeveloped premium resource in North America."