Execution Driving Durable Returns Financial Outperformance More production, lower capital & relentless focus on profitability 1.92 3Q24 Earnings per Share 3.70 3Q24 Cash Flow per Share Diluted Diluted Resilient Free Cash…
Operational Excellence in 3Q24 3Q24 Operational Performance Guidance Actuals Production above guidance Oil & Condensate Driven by Permian & Montney (Mbbls/d) 204 - 208 212 Capital below guidance midpoint Other NGLs (C2-C4) 88 - 92…
Track Record of Shareholder Returns 17% Consistent & Transparent Framework In action for 3 years 2.7 B returned (850 MM base dividends & 1,850 MM in buybacks) 3Q24 Free Cash Flow Yield 40 MM shares repurchased through 3Q24 181 MM…
Committed to Debt Reduction September 30, 2024 5,877 MM Debt Debt / Leverage Target 4,000 MM Debt target reaffirmed 1.2x Debt to Adjusted EBITDA Asset Settlement (150 MM) to be received in 4Q24 & applied to debt Adjusted EBITDA…
Leading Permian Operations Well Performance in-line with 2024 Type Curve Permian Well Performance Wells completed across acreage position 18 2024 OVV Type Curve 16 4Q23 through 3Q24 (154 wells) Continuing to push the D&C envelope in…
Speed Driving Montney Efficiencies Drilled Ft/Day 3Q24 Drilling 1,820 1,800 6% faster drilling in 3Q24 vs. FY23 1,700 1,725 1,700 6% Faster Longest industry lateral in Montney history at 18,110 ft 1 3Q24 vs. FY23 Ovintiv…
Free Cash Flow Engine in the Anadarko First Year Production & Revenue Substantial Free Cash Flow Generation Year 1 Well Production Year 1 Well Revenue 85% of first-year revenue from oil &…
Resumed Uinta Drilling Program Competitive margin similar to the Permian Core Uinta Position Lower royalty rate and higher oil cut Duchesne Uintah 29 Mbbls/d oil & condensate production in 3Q24 50% increase from 3Q23 High-quality oil…
Updated Guidance More FY24E production for the same capital 2024 Production and Capital Guidance Third production guide increase this year 4Q24 FY24 Production guidance increase driven by 3Q24 results Total Production 575 595 583 587…
OVVs Keys to Success High-Quality Portfolio Four top-tier assets with substantial operating scale Innovations distributed across the portfolio to drive results Montney High-return oil & deep multi- Operational Excellence Drives…
Hedge Positions as of September 30, 2024 Oil and Condensate Hedge Positions1 Oil and Condensate 4Q24 1Q25 2Q25 3Q25 4Q25 WTI & NYMEX Realized Gain / Volume Mbbls/d 50 50 50 50 0 WTI 3-Way Call Strike /bbl 84.35 84.85 86.48 80.59 -…
Durable Cash Return Framework Committed to Our Proven Framework 4Q24 Cash Returns ( MM) 3Q24 Results Post Base Dividend 978 Non-GAAP Cash Flow Free Cash Flow (538) Capex 440 Non-GAAP Free Cash Flow (78) 3Q24 Base Dividend…
Proactive AECO & Waha Risk Management Successfully Managing 100% transport to market secured Gas Flow & Price Risk Minimal exposure to local market prices 4Q24 4Q25 Montney Price Exposures1 4Q24 Permian Price Exposures1 60% 45%…
Canadian Royalty Sensitivity Royalty Sensitivity1 Royalty Rates Vary Based on Commodity Prices 24 26% US Basin Average (20 25%) OVV Reports NRI volumes after royalties across its US and Canadian assets Changes in royalty rates seen in…
Track Record of Responsible Operations 50% Scope 1&2 Achieved 41% Reduction Through YE23 GHG Intensity Reduction Target Intensity Reduction1 (from 19 30) Tied to Compensation For All Employees 65% Methane Intensity Reduction2…
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