DENVER, May 6, 2024 /PRNewswire/ - Ovintiv Inc. (NYSE: OVV) (TSX: OVV) (the "Company") today announced that the following matters, as further described in the Company's Proxy Statement filed on March 21, 2024 (the "Proxy Statement"), were voted upon at its 2024 Annual Meeting of Shareholders held on May 2, 2024. Election of Directors Each director listed in the Proxy Statement was elected as a director of the Company. The results of the vote by ballot were as follows: Shares For Percent Shares Against ...

Investors are always looking for stocks that are poised to beat at earnings season and Ovintiv Inc. (OVV) may be one such company. The firm has earnings coming up pretty soon, and events are shaping up quite nicely for their report.That is because Ovintiv is seeing favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat. After all, analysts raising estimates right before earnings — with the most up-to-date information possible — is a pretty good indicator ...

Exhibit 99.2 Ovintiv Inc. Selected Financial Information (unaudited) For the year ended December 31, 2023 U.S. Dollar / U.S. Protocol | For the years ended December 31 (US$ millions, except per share amounts) | | 2023 | | 2022 | | 2021 | | --- | --- | --- | --- | --- | --- | --- | | Revenues | | | | | | | | Product and service revenues | S | 10,661 | S | 14,263 | S | 10,468 | | Gains (losses) on risk management, net | | 151 | | (1,867) | | (1,883) | | Sublease revenues | | 71 | | 68 | | 73 | | Total Revenue ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 001-39191 Ovintiv Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) Suit ...

Financial Data and Key Metrics Changes - The company reported earnings per share of $1.47 and cash flow per share of $4.02, meeting consensus estimates [42] - Free cash flow generated in the quarter was $278 million, with approximately $127 million returned to shareholders through share buybacks and dividends [42] - Total debt at quarter end was just over $6.1 billion, with a leverage ratio of 1.5 times, and the company remains committed to a mid-cycle leverage target of 1 times or about $4 billion [18] Business Line Data and Key Metrics Changes - The company brought on 116 net wells, exceeding plans by 16, with 15 of those in the Permian [7] - The average oil IP30 for wells on recently acquired acreage exceeded the 2022 and 2023 Midland basin average, with approximately 20 wells showing IP30 oil rates of more than 1,100 barrels per day [11] - The Uinta basin's recent nine-well Tomlin pad achieved an IP30 rate of 1,490 barrels of oil per day per well, outperforming the Delaware basin by almost 10% [48] Market Data and Key Metrics Changes - Year-to-date, the company realized 97% of WTI prices for its products, making the Montney competitive with top oil basins in North America [23] - The Uinta basin margin is now consistent with the Permian basin margin, enhancing margin stability [80] Company Strategy and Development Direction - The company focuses on deepening premium inventory and generating durable returns through innovation and operational efficiency [15][28] - The strategy includes a commitment to distribute at least 50% of post-dividend free cash flow to shareholders, with the remaining 50% allocated to debt reduction [9] - The company is actively testing high-potential locations identified during the acquisition and expects to see improved well performance and capital efficiency [21] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the operational execution and the ability to stabilize production at 200,000 barrels per day in the second quarter of 2024 [20] - The company has raised its full-year 2023 production guidance and narrowed the range for capital spending, indicating improved capital efficiency [50] - Management emphasized the importance of consistent execution and innovation in driving operational and financial success [16][28] Other Important Information - The company has integrated the Permian acquisition ahead of schedule and accelerated the timeline for wells in progress [44] - The Trimulfrac technology is expected to reduce cycle time and save costs, with significant savings observed in recent completions [22][95] Q&A Session Summary Question: Future potential project size changes in the Permian - Management indicated that consistent lateral lengths and well spacing will be maintained, with strong well performance expected without upspacing [31][32] Question: Thoughts on accelerating shareholder payout - Management plans to maintain a 50-50 approach to shareholder returns and debt reduction, focusing on generating more free cash flow [34] Question: Productivity and efficiency gains for 2024 - Management confirmed that projections for 2024 remain stable at 200,000 barrels per day, with no changes to the basis for this projection [37][62] Question: Evolution of Simulfrac to Trimulfrac - Management explained that Trimulfrac builds on previous innovations, enhancing capital efficiency and returns [69][75] Question: Update on Montney assets and capital allocation - Management stated that 20% of capital will be deployed in the Montney, focusing on the oil window, with plans for future gas market access [77] Question: Clarification on base decline rates and D&C costs - Management highlighted efforts to reduce base decline rates and indicated that costs are similar to pre-pandemic levels, except for tubulars [82][85]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 001-39191 Ovintiv Inc. (Exact name of registrant as specified in its charter) Delaware 84-4427672 (State or other jurisdiction of incorporation or organization) ( ...

2Q23 Results Conference Call Certain measures in this presentation do not have any standardized meaning as prescribed by U.S. GAAP and, therefore, are considered non-GAAP measures. These measures may not be comparable to similar measures presented by other companies and should not be viewed as a substitute for measures reported under U.S. GAAP. These measures are commonly used in the oil and gas industry and/or by Ovintiv to provide shareholders and potential investors with additional information regarding ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 001-39191 Ovintiv Inc. (Exact name of registrant as specified in its charter) Delaware 84-4427672 (State or other jurisdiction of incorporation or organization) (I.R.S ...

Financial Data and Key Metrics Changes - The company reported net earnings of $487 million, cash from operating activities of $1.1 billion, and free cash flow of $241 million, exceeding consensus estimates [3] - Cash flow per share was $3.44, and approximately $300 million was returned to shareholders through share buybacks and dividends, representing a cash return yield of nearly 15% [3] Business Line Data and Key Metrics Changes - Production during the quarter was 511,000 BOEs per day, exceeding guidance on oil, gas, and NGL [19] - The company achieved an impressive IP30 rate of 1,165 barrels of oil per day in the Permian, indicating strong well performance [10] - In the Montney, a recent well posted a 30-day IP rate of over 5,300 BOE per day, showcasing robust productivity [26] Market Data and Key Metrics Changes - The company realized 111% of NYMEX after hedges across its portfolio, with Canadian gas prices exceeding 140% of NYMEX on a pre-hedge basis [8][27] - The economics in the Montney remain strong, with expected returns of over 100% across the 2023 program [27] Company Strategy and Development Direction - The company announced two transactions aimed at enhancing capital efficiency and extending inventory depth, including acquiring Midland acreage and selling Bakken assets for $825 million [4][14] - The acquisition is expected to enhance capital efficiency and lower cash costs per BOE, while maintaining a strong investment-grade rated balance sheet [14][15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's strategy and execution, highlighting strong operational performance and innovation culture [7][21] - The company anticipates production growth in Q2 2023 to approximately 515,000 to 535,000 BOEs per day, with capital spending of $590 million to $630 million [41] Other Important Information - A 20% increase in the base dividend per share was announced alongside the transactions [20] - The company expects to run a low-level development program in 2024, producing over 200,000 barrels of oil and condensate per day with a capital range of $2.1 billion to $2.5 billion [56] Q&A Session Summary Question: Clarification on cash outflow and acquisition price adjustments - Management estimated the closing adjustment on the Permian acquisition to be under $100 million, noting that the asset is running free cash flow negative during the interim period [39] Question: Thoughts on shareholder return program - Management confirmed the shareholder return framework remains unchanged, emphasizing buybacks as the best value for returning cash to shareholders [53][81] Question: Integration plans for newly acquired assets - Management stated that integration processes are in motion, covering drilling, completion plans, and midstream marketing [97][99]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 001-39191 Ovintiv Inc. (Exact name of registrant as specified in its charter) Delaware 84-4427672 (State or other jurisdiction of incorporation or organization) (I.R. ...