Ovintiv Inc.

2024 Non-GAAP Free Cash Flow Up Approximately 50% Year-Over-Year Highlights: Full Year 2024 Generated cash from operating activities of $3.7 billion, Non-GAAP Cash Flow of $4.0 billion and Non-GAAP Free Cash Flow of $1.7 billion after capital expenditures of $2.3 billion Produced average total volumes of 585 thousand barrels of oil equivalent per day , including 211 thousand barrels per day of oil and condensate, 91 [...]

Ovintiv Inc. today closed the previously announced acquisition of certain Montney assets from Paramount Resources Ltd. The acquisition adds approximately 70 thousand barrels of oil equivalent per day of production, 900 net 10,000 foot equivalent well locations, and approximately 109,000 net acres of land, strategically located near the Company's current Montney operations with ample access to midstream infrastructure [...]

Ovintiv Inc. today announced that Terri G. King has been named as an independent member of its board of directors, effective January 31, 2025. King, 63, retired from ConocoPhillips Company in 2023 as Chief Commercial Officer and Vice President. During her lengthy career with ConocoPhillips, she held various roles including President, Lower 48; President, Europe & North Africa; President, United Kingdom; and General [...]

Ovintiv Inc. today closed the previously announced all cash sale of substantially all its Uinta assets, located in Utah, to FourPoint Resources, LLC, for approximately $2 billion. "The Uinta sale builds on our track record of unlocking significant value from our non-core assets while focusing our portfolio and extending inventory runway in our core areas," said Ovintiv President and CEO, Brendan McCracken. Ovintiv's [...]

Ovintiv Inc. today announced plans to hold its 2024 fourth quarter and year-end results conference call at 9:00 a.m. MT, on Thursday February 27, 2025. The Company plans to release its financial and operating results after market close, Wednesday February 26, 2025. In addition to the release, supplemental slides and financial statements will be available on the Company's website, located at www.ovintiv.com. To join the [...]

Transaction to Significantly Expand Existing Montney Premium Oil Inventory, Company to Exit Uinta Basin with Asset Sale Highlights: Agreement reached to acquire approximately 109,000 net acres and approximately 70 thousand barrels of oil equivalent per day in the core of the Alberta Montney for $2.377 billion Acquisition will add approximately 900 total net well locations, including approximately 600 premium return well [...]

Paramount Resources Ltd. is pleased to announce that it has entered into a purchase and sale agreement with Ovintiv Inc. and one of its wholly-owned subsidiaries pursuant to which Ovintiv will acquire Paramount's Karr, Wapiti and Zama properties for $3.325 billion in cash plus certain Horn River Basin properties of Ovintiv . The Assets include approximately 170 net sections of Montney lands with 114 MMBoe of proved [...]

Full Year Production Guidance Increased; Strong Operational Execution and Debt Reduction Continue Highlights: Generated net earnings of $507 million, cash from operating activities of $1,022 million, Non-GAAP Cash Flow of $978 million and Non-GAAP Free Cash Flow of $440 million after capital expenditures of $538 million Third quarter production was above the high-end of the guidance range on every product with average [...]

Ovintiv Inc. today announced plans to hold its third quarter 2024 results conference call at 7:00 a.m. MT, on Friday November 8, 2024. The Company plans to release its financial and operating results after market close, Thursday November 7, 2024. In addition to the release, supplemental slides and financial statements will be available on the Company's website, located at www.ovintiv.com. To join the conference call [...]

Company Receives TSX Approval for Renewal of Normal Course Issuer Bid Ovintiv Inc. today announced it has received regulatory approvals for the renewal of its share buy-back program. This action is consistent with the Company's capital allocation framework, which returns at least 50 percent of post base dividend Non-GAAP Free Cash Flow to shareholders. The Toronto Stock Exchange has accepted Ovintiv's notice of intention [...]