Operator · Duvernay Shale, Montney Shale & Permian Basin
Ovintiv Inc
80 articles mentioning Ovintiv Inc · Page 1 of 4
Ovintiv’s Montney Move: $2.7B NuVista Deal Adds 930 Locations, 100Mboe/d
Ovintiv has taken a decisive step in its portfolio transformation, signing a definitive agreement to acquire NuVista Energy in a cash-and-stock transaction valued at approximately $2.7 billion (C$3.8 billion). The deal is designed to deepen and...
Large E&P Chops Permian/Anadarko Basin Frac Activity by 30% In 2024
Ovintiv provided an update to it's plan for 2024. The company plans to cut Permian well activity by 27%, the Anadarko basin by 67% and the Montney by 13%. This is as a result of the...
Large Permian E&P Cuts Capex;Outlines New D&C Plans, 2024
Ovintiv provided an updated guidance for the remainder of the 2023 development cycle. 2023 Guidance The Company issued its third quarter 2023 guidance and revised its full year guidance. Full year production guidance was increased due...
Permian E&P Cut Rigs from 10 Rigs To 5
Ovintiv, during its 1Q 2023 earnings call provided some update on the remainder of its 2023 development program. One thing we have always stressed is that with the consumation of any deal, upon closing of the...
Ovintiv Inc. Adds PSEG Exec to Board of Directors
Ovintiv Inc. announced that Ralph Izzo has been named as an independent member of its Board of Directors, effective September 6, 2022, and that Bruce Waterman will retire from the Board of Directors effective December 31,...
Ovintiv Inc. Second Quarter 2022 Results
Ovintiv Inc. announced its second quarter 2022 financial and operating results. Ovintiv President & CEO Brendan McCracken said: "In the second quarter, we delivered our highest quarterly cash flow and free cash flow in over a...
2022 Guidance Growth: Several Operators Bolster Capex, Production Outlook
In response to the skyrocketing oil demand and D&C activity seen in 1Q22, several E&Ps have added additional capital to their 2022 budgets. A few E&Ps have also adjusted production guidance expectations or drilling plans, increasing...
Ovintiv Inc. First Quarter 2022 Results; Capex Increased by $250MM
Ovintiv Inc. announced its first quarter 2022 financial and operating results. Highlights: Generated first quarter cash from operating activities of $685 million, Non-GAAP Cash Flow of $1,043 million and Non-GAAP Free Cash Flow of $592 million...
Ovintiv Inc. Fourth Quarter, Full Year 2021 Results
Ovintiv Inc. announced its fourth quarter and year-end 2021 financial and operating results. Highlights: Generated full year net earnings of $1.4 billion, cash from operating activities of $3.1 billion, Non-GAAP Cash Flow of $3.2 billion and...
Ovintiv Cuts Completions by 10% for 2022; Production, Spending Flat YOY
Ovintiv Inc. reported its 2022 capital plan and guidance. 2022 Plan - Capex: $1.5 billion - flat vs. 2021 - D&C Capex by Play Permian: $575-625 million Anadarko Basin: $300-350 million Montney: $275-325 million Bakken: $175-225...
An Early Look at 2022: E&P Budget, Drilling & Completion Plans
Several operators gave a sneak peek of their 2022 capital plans in their Q3 reports. Below is a summary of what the E&Ps are planning for next year. Capital budgets are set to increase and, with...
Ovintiv Inc. Third Quarter 2021 Results; 2022 Outlook Keeps Capex Flat YOY
Ovintiv Inc. reported its Q3 2021 results. Ovintiv President and CEO, Brendan McCracken said: "Our third quarter results demonstrate our commitment to unlocking shareholder value by delivering on our strategic priorities. Year-to-date, we have generated nearly...
Ovintiv Inc. Second Quarter 2021 Results
Ovintiv Inc. announced its second quarter 2021 financial and operating results. In addition, the Company increased its quarterly dividend payment by approximately 50%, accelerated its $4.5 billion net debt target timeline to the end of 2021...
Ovintiv Inc. Adds CFO of MasTec Inc. to Board
Ovintiv Inc. announced that George L. Pita has been named as an independent member of its board of directors, effective July1, 2021. Since early 2019, including Pita, the Company has expanded its board diversity, added five...
Ovintiv CEO Doug Suttles to Retire; McCracken Tapped to Lead
Ovintiv Inc. CEO Doug Suttles will retire effective August 1, 2021. Ovintiv's Board of Directors has named Brendan McCracken as President & Chief Executive Officer and elected him to the Board effective August 1, 2021. About...
Ovintiv Closes $880 Million Eagle Ford Asset Sale
Ovintiv Inc. has closed its previously announced $880MM Eagle Ford asset sale. The proceeds from this sale, combined with those recently received from the Duvernay asset sale, will be used for debt reduction. CEO Doug Suttles...
Ovintiv Inc. First Quarter 2021 Results
Ovintiv Inc. announced its first quarter 2021 financial and operating results. Highlights: First quarter 2021 net earnings of $309 million ($1.16 per share diluted), cash from operating activities of $827 million and non-GAAP cash flow of...
Ovintiv Looking to Sell Eagle Ford Asset Sale
Ovintiv Inc. is nearing striking an agreement to sell its Eagle Ford portfolio, according to a report by Reuters. Citing sources faimilar with the matter, the report stated that PE firm Pontem Energy Capital is the...
Ovintiv Adds Finance Pro to Board; Kimmeridge Withdraws Nominations
Ovintiv Inc. announced that Katherine L. Minyard has been appointed as an independent member of its board of directors, effective immediately. In connection with the appointment of Minyard, Ovintiv shareholder Kimmeridge Energy Management agreed to withdraw...
Ovintiv Inc. 2021 Plan; Fourth Quarter, Full Year 2020 Results
Ovintiv Inc. reported its Q4 and full year 2020 results. 2021 Outlook Regarding the Company's 2021 Outlook, Suttles said, "Our strong performance in 2020 sets us up well to deliver once again in 2021. We expect...