Ovintiv (OVV) said Friday that it has closed its $2.31 billion acquisition of certain Montney assets in Alberta, Canada from Paramount Resources.

The company said the acquisition price was lowered from the $2.38 billion quoted when it was announced in November due to currency swaps. Ovintiv said the currency swaps were used to manage the risk associated with buying an asset in Canadian dollars.

Ovintiv said the acquisition adds approximately 70 thousand barrels of oil equivalent production per day and is accretive immediately as well as long-term across "key financial metrics."