Well-Positioned to Weather Volatility Current commodity fundamentals validate choice for maintenance-level investment in 2025 B FY25E Free Cash Flow Scenarios1 Positioned to generate returns & Free Cash Flow through the cycle 2.1…
A Permian and Montney Oil Powerhouse Differentiated Oil Portfolio Top performer anchored in the Permian & Montney, paired with stable, low-decline Free Cash Flow in the Anadarko Position of Strength & Resiliency Portfolio built on a…
1Q25 Results Driven by Strong Ops 3.86 1Q25 Cash Flow per Share 3871Q25 Free Cash Flow MM 206 Mbbls/d 1Q25 Oil & Condensate Production Diluted Production at or above guide ranges 1Q25 Operational Performance Oil beat primarily…
Robust Cash Returns & Restarted Buyback Fully committed to our capital return framework Restarted buybacks in 2Q25 as planned 146 MM in expected buybacks in 2Q25; 40 MM executed through April (1.2 MM shares, average price of…
Committed to Debt Reduction Managed 1Q25 debt via buyback pause Modest increase in Net Debt from YE24 to 3/31 4Q24-1Q25 Debt Bridge MM 78 2 5,530 5,411 426 50% of post-base div. Free Cash Flow allocated to Balance Sheet in 2Q25E+…
2Q25 & FY25 Guidance Reaffirming FY25 production & capex guidance Capital savings prioritized over higher production should 2025 Production and Capital efficiencies accelerate and/or service costs decline 2Q25E FY25E Total Production…
Leading Permian Operations Maximizing capital efficiency, driving ops faster & maintaining well productivity 2025E Permian Type Curve 2,050 ft/d 16 1Q25 Average 14 FY24A (145 wells) Drilling 2,800 ft/d Pacesetter 12 10…
Exceptional Montney Well Productivity Acquisition further cements Ovintivs premier oil & condensate position Most Recent Well Results Over- Normally Pressured 16 Pressured Pipestone bbls/ft Avg. 12-Month Cume Condensate…
Montney Integration on Track Significant drilling savings today; high confidence in 1.5 MM / well savings 1 MM / Well Drilling Savings Captured to Date 600k / well 400k / well Savings vs. Prior Owner Savings vs. Prior Owner First…
Anadarko Free Cash Flow Machine First FY25 completions in February FY25E at 1-2 rigs & frac crew 1Q25 Anadarko D&C Highlights 15% of company FY25E capital with full optionality to adjust if needed 1,500 ft/d On track for expected D&C…
Why Ovintiv A Permian & Montney Oil Powerhouse Durable Free Cash Flow & Returns Deep Premium1 Oil & Gas Inventory Montney Delivering Debt Reduction Execution Excellence Anadarko Permian 14 Non-GAAP measures defined in…
Hedge Positions as of March 31, 2025 Oil and Condensate Hedge Positions1 Oil and Condensate 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26 4Q26 Volume Mbbls/d 50 50 50 15 0 0 0 WTI & NYMEX Realized Gain / WTI 3-Way Options Call Strike /bbl Put Strike…
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…
Industry-Leading Montney Operations Oil-focused Free Cash Flow generation with limited direct tariff risk Legacy D&C Performance Limited Tariff Risk Ft/d 100% Drilling Completions Of cross-border gas sales are compliant with the…
Diversified Montney Natural Gas Pricing Significantly priced outside of AECO today with an option to participate in LNG AECO Price Mitigation1 1.0 Bcf/d FY25E Montney Gas priced outside AECO Montney / WCSB Gas Export Infrastructure…
Significant Torque to Higher Gas Prices Scale 2Q25E-4Q25E Natural Gas Price Exposure2 Top 10 public onshore natural NYMEX gas producer1 AECO Price Diversity Waha 75% of FY25E gas production Downstream Markets priced ex AECO…
Durable Cash Return Framework Resumed buybacks in 2Q25 2Q25E Free Cash Flow Allocation ( MM) Committed to Our Proven Framework 1Q25 Results 1,004 Non-GAAP Cash Flow Post Base Dividend Free Cash Flow (617) Capex 387 Non-GAAP Free…
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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