Group 1 - Ovintiv Inc. plans to hold its third quarter 2024 results conference call on November 8, 2024, at 7:00 a.m. MT [1] - The financial and operating results will be released after market close on November 7, 2024 [1] - Supplemental slides and financial statements will be available on the company's website [1] Group 2 - Investors can join the conference call by registering online or dialing in directly [2] - The toll-free number for North America is 888-510-2154, and the international number is 437-900-0527 [2] - Participants are advised to join approximately 15 minutes prior to the call [2] Group 3 - A live audio webcast of the event will be available on Ovintiv's website and archived for approximately 90 days [3] - Additional information about Ovintiv Inc. can be found on their official website [3] - Investor and media contact information is provided for further inquiries [3]

Company Receives TSX Approval for Renewal of Normal Course Issuer Bid DENVER, Sept. 26, 2024 /PRNewswire/ - Ovintiv Inc. (NYSE: OVV) (TSX: OVV) today announced it has received regulatory approvals for the renewal of its share buy-back program. This action is consistent with the Company's capital allocation framework, which returns at least 50 percent of post base dividend Non-GAAP Free Cash Flow to shareholders. The Toronto Stock Exchange ("TSX") has accepted Ovintiv's notice of intention to renew its norma ...

Core Viewpoint - Ovintiv Inc. is considering the sale of its Uinta Basin operations, potentially fetching up to $2 billion, indicating a strategic shift in its portfolio focus towards higher-growth areas like the Permian Basin [1][2][12] Overview of Uinta Basin Operations - The Uinta Basin operations involve drilling at depths of approximately 2,600 feet in a reservoir rich in waxy crude oil, which is in high demand from Gulf Coast refineries [3] - Although a smaller part of Ovintiv's portfolio, the Uinta Basin assets are strategically valuable due to the unique properties of the crude and potential for long-term returns [4] Potential Buyers and Market Interest - The sale is attracting interest from private equity-backed energy groups, highlighting the lucrative nature of these operations and the attractiveness of specialized crude types [5] - The market environment suggests that such assets remain appealing, particularly for buyers with established infrastructure [5][6] Strategic Focus on the Permian Basin - Ovintiv is repositioning to focus on the Permian Basin, having made a $4.3 billion acquisition in 2023, which enhances its presence in a highly productive shale region [7] - Selling the Uinta Basin assets would allow Ovintiv to allocate more resources to its Permian operations, aligning with its goal of driving higher returns [8] Regulatory Considerations and Market Impact - Any potential sale may face scrutiny from the Federal Trade Commission due to the strategic importance of the Uinta Basin's waxy crude for regional fuel supplies [9] - Oil production in Utah has surged by nearly 40% since late 2022, increasing the market value of Uinta Basin assets, although regulatory hurdles may impact the sale [10] Ovintiv's Market Performance and Industry Position - Ovintiv's shares have declined by 12% over the past year, underperforming the S&P 500 Energy Index, with a current market value of approximately $11.2 billion [10] - The proposed sale is part of a broader strategy to streamline the portfolio and enhance shareholder value by focusing on high-growth regions [11] Conclusion - The potential sale of Uinta Basin assets represents a critical juncture for Ovintiv, with implications for its growth and industry position [12] - The company's shift towards the Permian Basin and recent acquisitions and divestitures reflect its commitment to maximizing returns through a concentrated asset portfolio [12]

Ovintiv Inc. (OVV) reported second-quarter 2024 adjusted earnings per share (EPS) of $1.24, which beat the Zacks Consensus Estimate of $1.22 and increased from the year-ago level of 93 cents. The outperformance can be attributed to higher oil price realization and successful year-over-year cost-control initiatives. The Denver, CO-based oil and gas exploration and production company's total revenues of $2.2 billion decreased 13.3% from the year-ago quarter's figure and missed the Zacks Consensus Estimate by ...

| --- | --- | --- | --- | --- | --- | --- | --- | |-----------------|-------|-------|-------|-------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | 2Q24 Results | | | | | | | | | Conference Call | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 1 | Forward Looking Statements This presentation contains forward-looking statements or information (collectively, "forward-looking statements") within the meaning of applicable securities legislation, including Section 27A of the Se ...

Ovintiv (OVV) came out with quarterly earnings of $1.24 per share, beating the Zacks Consensus Estimate of $1.22 per share. This compares to earnings of $0.93 per share a year ago. These figures are adjusted for nonrecurring items. Over the last four quarters, the company has surpassed consensus EPS estimates three times. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earn ...

Additional information on the Company's long-term incentive costs can be found in Note 17 to the Consolidated Financial Statements included in Part I, Item 1 of this Quarterly Report on Form 10-Q. Interest • Interest expense related to the senior unsecured notes issued in May 2023 ($21 million). partially offset by: Three months ended June 30, 2024 versus June 30, 2023 Six months ended June 30, 2024 versus June 30, 2023 Other (gains) losses, net, primarily includes other non-recurring revenues or expenses a ...

(1) Other Operations includes production volumes from plays that are not part of the Company's current focus. Production volumes associated with Bakken were included in USA Other Operations until the asset was divested on June 12, 2023. | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |------------------------------------------|---------------------------|-------------|-------|-------|-------|-------|-----------|--------------------|-------|-------| | Results by Play (continued) \n(averag ...

500 MMcf/d - ($1.08) Important information Non-GAAP Cash Flow is a non-GAAP measure defined as cash from (used in) operating activities excluding net change in other assets and liabilities, and net change in non-cash working capital. Non-GAAP Free Cash Flow is a non-GAAP measure defined as Non-GAAP Cash Flow in excess of capital expenditures, excluding net acquisitions and divestitures. Forecasted Non-GAAP Free Cash Flow assumes forecasted Non-GAAP Cash Flow based on price sensitivity of $80 WTI and $2.25 N ...

While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise. Revenues are expected to be $2.53 billion, up 0.5% from the year-ago quarter. Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts. The Zacks Earnings ESP c ...