3Q21 Execution Driving Value Creation 4Q Shareholder Returns Strong FCF Generation 148 MM 480 MM In action TODAY on shareholder returns 1,370 MM FCF YTD21 37 MM base dividend + 111 MM Additional Returns Continued Debt Reduction…
Return Framework Focused on Value Creation Free Cash Flow After Base Dividend Net Debt Until 3.0B After 3.0B Incremental Shareholder Returns in action TODAY Shareholder Returns 25% 50% At least Share Buybacks Variable…
Substantial Cash Returns Today Capital Allocation Framework ( MM) 3Q21 Results 148 MM 4Q21 Shareholder Return 845 Cash Flow (365) 480 Capex Free Cash Flow 600 MM Annualized Shareholder Return (37) Base Dividend 443 Available…
2022 Shareholder Return Potential 2022 Shareholder Return Potential ( MM) Base Dividend How We Think About Additional Returns (Buyback or Variable Dividend) Buybacks vs. Variable Dividends Shareholder Returns in Addition 13% Yield…
Continuing Top Tier Operational Execution Strategic Proven Capital Efficiency Thinking Reaffirming 1.5B FY21 capex guidance OVV Culture of Innovation Provides a Efficient Development Cross Basin Demonstrating repeated…
Permian & Anadarko Updates Permian Fastest completions quarter to date: 3k feet/day Wet Sand Utilization 3 of 5 pads completed with 100% local, wet sand 48% NEW Operational Efficiency Record Lateral length: 13.5k lateral Drilling:…
Montney & Bakken Updates Montney Longest Laterals Drilled in Montney 3Q21 - Drilled 3 of 5 longest laterals in basin history 13% Ovintiv Optimized completions and flowback strategy Industry yielding strong well performance on all…
Proven Capital Efficiency Supports 22 Program Capital Efficient 2022 Program Capital Efficiency 1.5B Capex Maintain Capital Efficiencies YoY 180 - 190 Crude & Condensate (Mbbls/d) 2021 Program 2021 Inflationary Program…
Multi-Basin Portfolio Generating Balanced FCF 2021E Upstream Operating FCF Strip Base Industry Leading Portfolio 0.5B Permian Stability through cycle 1.0B Commodity optionality Anadarko 1.1B 3.7B Multi-basin risk…
Reducing Scope 1 & 2 GHG Intensity Scope 1 & 2 GHG Intensity Tangible results and targets 20% reduction in Scope 1&2 GHG intensity by YE21E vs. 19 Metric tons (C02e/Mboe) GHG Scope 1&2 intensity target tied to 2022 compensation 22.3…
Top Tier Operations & Performance Today Path Forward Committed to Shareholder Returns Returning Incremental Cash to Shareholders TODAY New framework in action TODAY 150 MM of base dividends & buybacks in 4Q21 13% cash yield in 2022…
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Appendix
High-Value Production Stream Driving Cash Flow Unchanged capital guidance Production Details Repeatable, load-leveled, program outperforming expectations FY21 Guidance Offsetting inflation through operational efficiencies and innovation…
Cost Savings Momentum Continues Declining Legacy Costs boost cash flows Legacy Cost Profile Accelerates Debt Reduction No execution risk, only subject to time Declining Legacy Costs ( MM) Panuke decommissioning, T&P & Opex Panuke Lease…
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