Ovintiv

Ovintiv, Inc. engages in the production and development of oil, natural gas liquids and natural gas producing plays. The firm operates through the following segments: Canadian Operations, USA Operations and Market Optimization. The Canadian Operations segment includes the exploration for, development of, and production of oil, NGLs, natural gas and other related activities within Canada. The USA Operations segment includes the exploration for, development of, and production of oil, NGLs, natural gas and other related activities within the United States. The Market Optimization segment’s activities are managed by the Midstream, Marketing & Fundamentals team, which is responsible for the sale of the company’s proprietary production to third party customers. The company was founded in 1881 and is headquartered in Denver, CO.

Earnings data Q1 2021

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Ovintiv (OVV) exceeds Q2 earnings expectations, emphasizes sustainable growth

Ovintiv's Q2 2024 earnings call showcased impressive financial performance, strategic focus on sustainable growth, and commitment to shareholder returns. While facing inquiries on operational aspects and financial strategies, the company remains poised to leverage opportunities for value creation and operational excellence.

Ovintiv reports robust Q3 earnings, eyes growth through efficiency

Ovintiv delivered a strong Q3 performance with robust financial results and operational excellence, positioning the company for sustainable growth and profitability.
While facing challenges in capital structure optimization and strategic decision-making, Ovintiv has opportunities to drive growth through operational efficiencies and strategic initiatives.
By maintaining production guidance, capital spending discipline, and a focus on asset performance, Ovintiv demonstrates resilience and a commitment to creating long-term value for shareholders.

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Ovintiv, Inc. engages in the production and development of oil, natural gas liquids and natural gas producing plays. The firm operates through the following segments: Canadian Operations, USA Operations, and Market Optimization. The Canadian Operations segment includes the exploration for, development of, and production of oil, NGLs, natural gas and other related activities within Canada. The USA Operations segment includes the exploration for, development of, and production of oil, NGLs, natural gas and other related activities within the United States. The Market Optimization segment’s activities are managed by the Midstream, Marketing & Fundamentals team, which is responsible for the sale of the company’s proprietary production to third party customers. The company was founded in 1881 and is headquartered in Denver, CO.

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DENVER , April 13, 2023 /PRNewswire/ - Ovintiv Inc. (NYSE: OVV) (TSX: OVV) today announced plans to hold its first quarter 2023 results conference call at 9:00 a.m. MT, on Wednesday May 10, 2023.

Ovintiv to Host its First Quarter 2023 Results Conference Call and Webcast on May 10, 2023

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Ovintiv is buying 3 Permian companies and selling one Bakken Company. OVV stock rose 11% on the day of the announcement of the deal.

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Ovintiv (OVV) is set to strengthen its position in the Permian Basin and boost its overall production capacity with the acquisition of Core Midland Basin Assets.

Ovintiv (OVV) to Acquire Midland Basin Assets for $4.275B

The cash-and-stock deal sees Ovintiv issue 36 million shares and $3.13 billion in cash to asset manager EnCap Investments L.P.

Ovintiv Doubles Down on Permian Basin With Big Acquisition

Ovintiv announced it has entered into a definitive purchase agreement to acquire substantially all leasehold interest and related assets of Black Swan Oil & Gas, PetroLegacy Energy, and Piedra Resources (NMB sellers), which are portfolio companies of funds managed by EnCap Investments L.P. in a cash and stock transaction valued at approximately $4.275 billion.

Ovintiv Buying Core Midland Basin Assets For $4.275 Billion

Ovintiv got the shareholder return strategy right in 2022. Ovintiv, however, messed up in a big way on hedging for both 2022 and 2023.

Ovintiv: Bad Decisions Put Management In The Penalty Box

Ovintiv announced Monday it is acquiring oil exploration and production assets in the Permian Basin, in the United Stataes from Black Swan Oil & Gas, PetroLegacy Energy and Piedra Resources, companies controlled by private equity firm EnCap Investments, for about $4.275 billion in cash and stock. The acquisition supports the company's efforts to expand its operations in the Permian Basin, where it has already committed to undertaking additional drilling work.

Ovintiv to acquire Permian oil assets from EnCap for $4.3B

Ovintiv Inc. OVV, +2.53% OVV, +2.40% said Monday it has agreed to acquire all leaeshold and related assets of Black Swan Oil & Gas, PetroLegacy Energy and Piedra Resources in a cash-and-stock deal valued at about $4.275 billion. The three companies are portfolio companies of funds managed by EnCap Investments L.P.

Ovintiv to buy assets from trio of companies for about $4.275 billion in cash and stock

Transaction Expands Permian Premium Inventory, Enhances Shareholder Returns Company to Exit Bakken Position with Announced Asset Sale Highlights: Acquiring approximately 65,000 net acres of largely undeveloped resource in Martin and Andrews Counties, highly complementary with Ovintiv's existing Permian Basin position Valued at approximately 2.8 times next twelve months ("NTM") Adjusted EBITDA with a 19% NTM Non-GAAP Free Cash Flow Yield at current commodity strip pricing Adds approximately 1,050 net well locations, including approximately 800 premium(1) return well locations and approximately 250 high potential upside locations Immediately accretive to Non-GAAP Cash Flow per share, Non-GAAP Free Cash Flow per share, net asset value per share and shareholder returns at current commodity strip pricing Increases NTM cash returns per share by more than 25% and 2024 cash returns per share by more than 40% Agreement reached to divest entirety of Bakken assets for proceeds of approximately $825 million At closing, the Company's leverage ratio is expected to be approximately 1.4 times Debt to Adjusted EBITDA, based on twelve month projected Adjusted EBITDA at March 30, 2023 strip prices Ovintiv will steward towards a 1.0 times leverage ratio and $4.0 billion of total debt Ovintiv remains committed to an investment grade balance sheet and expects the ratings agencies to affirm its investment grade rating 20% per share increase to base dividend announced, effective for the June 2023 record date Strong first quarter production exceeds Company guidance with total volumes of approximately 510 thousand barrels of oil equivalent per day ("MBOE/d"), including approximately 165 thousand barrels per day ("Mbbls/d") of oil and condensate; expected first quarter capital of $610 to $620 million 1) Premium return well locations defined as generating a greater than 35% internal rate of return at $55/bbl WTI oil and $2.75/MMBtu NYMEX natural gas prices. DENVER , April 3, 2023 /PRNewswire/ - Ovintiv Inc. (NYSE: OVV) (TSX: OVV) ("Ovintiv" or the "Company") today announced it has entered into a definitive purchase agreement to acquire substantially all leasehold interest and related assets (the "assets") of Black Swan Oil & Gas, PetroLegacy Energy and Piedra Resources ("NMB sellers"), which are portfolio companies of funds managed by EnCap Investments L.P.

Ovintiv to Acquire Core Midland Basin Assets

During 2022, hedges saw Ovintiv partially missing out on the booming oil and gas prices. Now in 2023, they entered the year with few hedges but sadly, oil and gas prices have slumped, especially for the latter.

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Ovintiv (OVV) expects spending of $2.15-$2.35 billion, crude oil and condensate volumes of 165-175 K bpd and natural gas production of 1,525-1,575 MMcf/d in 2023.

Ovintiv's (OVV) Q4 Earnings Miss Estimates, Revenues Beat

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Ovintiv Inc. (NYSE:OVV ) Q4 2022 Results Conference Call February 28, 2022 11:00 AM ET Company Participants Jason Verhaest - IR Brendan McCracken - President, CEO Corey Code - EVP, CFO Greg Givens - COO Conference Call Participants Neal Dingmann - Truist Securities Greg Pardy - RBC Capital Markets Arun Jayaram - JP Morgan Gabe Daoud - Cowen Lloyd Byrne - Jefferies John Abbott - Bank of America Jeoffrey Lambujon - Tudor, Pickering and Holt Roger Read - Wells Fargo Umang Choudhary - Goldman Sachs Operator Good morning, ladies and gentlemen, and thank you for standing by. Welcome to Ovintiv's 2022 Fourth Quarter and Year-End Results Conference Call.

Ovintiv Inc. (OVV) Q4 2022 Earnings Call Transcript

Company Delivers Record Financial Results and Significant Inventory Additions Highlights: Full Year 2022 Generated net earnings of $3.6 billion, cash from operating activities of $3.9 billion, Non-GAAP Cash Flow of $4.1 billion and Non-GAAP Free Cash Flow of $2.3 billion after capital expenditures of $1.8 billion Reduced total long-term debt by approximately $1.2 billion; Non-GAAP Debt to Adjusted EBITDA ratio of 0.8 times at year-end, down from 1.5 times at year-end 2021 Returned $958 million to shareholders through the combination of base dividend payments and share buybacks Added approximately 450 net premium drilling locations through inventory renewal program, replacing approximately 200% of full-year 2022 net wells turned in line ("TIL") Increased quarterly dividend payments by 25% to $1.00 per share annualized Delivered average annual production volumes of 510 thousand barrels of oil equivalent per day ("MBOE/d"), including 176 thousand barrels per day ("Mbbls/d") of oil and condensate, 86 Mbbls/d of other NGLs (C2 to C4) and 1,494 million cubic feet per day ("MMcf/d") of natural gas; all in line with Company guidance Fourth Quarter 2022 Generated fourth quarter net earnings of $1.3 billion, cash from operating activities of $875 million, Non-GAAP Cash Flow of $895 million and Non-GAAP Free Cash Flow of $537 million after capital expenditures of $358 million Delivered average quarterly production volumes of 524 MBOE/d, including 175 Mbbls/d of oil and condensate, 89 Mbbls/d of other NGLs and 1,561 MMcf/d of natural gas; all in line with Company guidance 2023 Outlook Announced 2023 capital program of approximately $2.15 to $2.35 billion, which is expected to deliver total production volumes of 500 to 525 MBOE/d DENVER , Feb. 27, 2023 /PRNewswire/ - Ovintiv Inc. (NYSE: OVV) (TSX: OVV) ("Ovintiv" or the "Company") today announced its fourth quarter and year-end 2022 financial and operating results. The Company plans to hold a conference call and webcast at 9:00 a.m.

Ovintiv Reports Fourth Quarter and Year-end 2022 Financial and Operating Results

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In 2023, Ovintiv could be a very strong performer. Why? Because its hedged portfolio is now dramatically improved. Ovintiv has been dead money since the summer. But I believe that in the coming quarters, this will change.

Ovintiv: +10% Returns Coming

DENVER , Jan. 17, 2023 /PRNewswire/ - Ovintiv Inc. (NYSE: OVV) (TSX: OVV) today announced plans to hold its 2022 fourth quarter and year-end results conference call at 9:00 a.m. MT, on Tuesday February 28, 2023.

Ovintiv to Host its 2022 Fourth Quarter and Year-end Results Conference Call and Webcast on February 28, 2023

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