A Permian & Montney Oil Powerhouse Differentiated Oil Portfolio Top performer anchored in the Permian & Montney, the two largest oil basins in North America Paired with stable, low-decline Free Cash Flow in the Anadarko Meaningful…
Delivering on our Durable Returns Strategy A Banner Year Generated 1.7 B of Free Cash Flow Returned 900 MM to shareholders 2024 Reduced Net Debt by 323 MM Delivered 6 Mbbls/d more oil & condensate and 25 MBOE/d more total…
4Q24 Results Driven by Strong Ops 3.86 4Q24 Cash Flow per Share 452 4Q24 Free Cash Flow MM 457 MM Net Debt Reduction in 4Q24 Diluted 4Q24 Operational Performance Oil & condensate production Guidance Actuals above guidance range…
Continued Financial Enhancement FY25E Free Cash Flow More y/y Free Cash Flow despite lower WTI MM 2,900 Oil-directed program in FY25 (80 & 4.50) Sustainable & durable capital efficiency 2,500 (75 & 4.25) Anchored in a diversified &…
Significant Torque to Higher Gas Prices Scale FY25E Natural Gas Price Exposure2 Top 10 public onshore natural gas producer1 NYMEX Downstream Markets Price Diversity AECO 75% of FY25E gas production Waha priced ex AECO & Waha…
Inventory Depth Fortifies Durable Returns 10-20 Strong Premium1 inventory depth today 10-20 years of expected oil inventory supports long-term durable returns (12-15 years in the Permian, 15-20 years in the Montney, and 10 years in…
2025 Guidance Details Maximizes capital efficiency & Free Cash Flow 2025 Production and Capital Maintenance program in FY25E with a portfolio that 1Q25 FY25 supports potential growth Total Production 575 595 595 - 615 Capital 100%…
Leading Permian Operations Consistent y/y well performance & similar y/y TILs in FY25E for less capital than FY24 Permian Well Performance Drilled Ft/Day Award-Winning Operations 2024 OVV Type Curve 2,000 1,700 FY24 (145 wells)…
Enhancing our Montney Oil Program Improving capital efficiency with 70% more oil y/y for only 40% more capital Leading Free Cash Flow Generation Drilled Ft/Day Montney Condensate Realizations2 95% Unmatched capital efficiency The…
Anadarko Free Cash Flow Machine Compelling returns from inexpensive operations, low declines & strong pricing Anadarko D&C1 /ft 640 Award-Winning Operations J.P. Morgan 2024 Maximizing lateral length Order of Merit for Anadarko…
Why Ovintiv Differentiated Oil Portfolio in the Permian & Montney Meaningful Scale In the Best Plays in North America Montney Durable Free Cash Flow & Returns Deep Premium1 Oil & Gas Inventory Anadarko Delivering Debt…
Oil-Directed Program in 2025 FY25E WTI Sensitivities 4.00 NYMEX Compelling returns with significant upside Free Cash Flow (B) 2.7 2.4 Sustainable & durable capital efficiency Maintenance program today with an option to grow 2.1…
Diversified Montney Natural Gas Pricing Significantly priced outside of AECO today with an option to participate in LNG OVV AECO Price Mitigation1 OVV Montney Natural Gas Realizations2 Firm Transport (2025+) 1,000 164% Dawn 330…
Committed to Debt Reduction December 31, 2024 5,411 MM Net Debt Debt / Leverage Target 1.2x Debt to Adjusted EBITDA 4B debt target reaffirmed Adjusted EBITDA is 4B at mid-cycle1 457 MM Net Debt Reduction in 4Q24 Debt…
Durable Cash Return Framework Expect to resume buybacks in 2Q25 1Q25 Free Cash Flow Allocation ( MM) Shareholder Return Framework 4Q24 Results Shareholder Returns 1,004 Non-GAAP Cash Flow At least Share Buybacks (552) Capex Uses…
Liquids-Focused, Multi-Basin Proved Reserves SEC Proved Reserves (Total BOE) SEC Proved Reserves (U.S. Oil) 200% Reserve Replacement Ratio 10 years Total Proved Reserve Life Index +12% Proved Oil Reserves (ex A&D and Price)…
Canadian Royalty Sensitivity Royalty Sensitivity1 Royalty rates vary based on commodity prices U.S. Basin Average (20 25%) 24 26% OVV Reports NRI volumes after royalties across its U.S. and Canadian assets Changes in royalty rates…
Track Record of Responsible Operations 50% Scope 1&2 Achieved 46% Reduction Through YE24 GHG Intensity Reduction Target Intensity Reduction1 (from 19 30) Tied to Compensation For All Employees 73% Methane Intensity Reduction2…
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