Ovintiv(US:OVV) Prnewswire·2026-02-23 22:05Core Insights - Ovintiv has completed a strategic transformation, enhancing profitability and shareholder returns through asset sales and acquisitions [1][2] Full Year 2025 Financial and Operating Results - The company announced a planned sale of its Anadarko assets for $3.0 billion and acquired NuVista Energy Ltd. for approximately $2.7 billion, adding 100 MBOE/d of production [1] - Full year average realized price for oil and condensate was $64.48 per barrel, with total average realized price of $32.59 per BOE [1] - Generated cash from operating activities of $3.7 billion, with Non-GAAP Free Cash Flow of $1.6 billion after capital expenditures of $2.1 billion [1][2] - Full year net earnings were $1.2 billion, or $4.78 per share diluted, including non-cash ceiling test impairments of $703 million [1] Fourth Quarter 2025 Financial and Operating Results - Average quarterly production volumes were 623 MBOE/d, with cash from operating activities of $954 million and Non-GAAP Free Cash Flow of $508 million after capital expenditures of $465 million [1][2] - Fourth quarter net earnings totaled $946 million, or $3.70 per share diluted, including non-cash ceiling test impairments of $38 million [1] 2026 Outlook and Guidance - The company plans to return at least 75% of full year Non-GAAP Free Cash Flow to shareholders through dividends and share buybacks, with a new share buyback program authorized for $3.0 billion [2] - Full year 2026 capital program is estimated at $2.25 to $2.35 billion, targeting total production volumes of 620 to 645 MBOE/d [1][2] Asset Highlights - In the Permian Basin, production averaged 219 MBOE/d in Q4 2025, with plans to invest approximately $1.325 billion in 2026 [2] - Montney production averaged 305 MBOE/d in Q4 2025, with an investment plan of approximately $875 million for 2026 [2] Year-End 2025 Reserves - SEC proved reserves at year-end 2025 were 2.3 billion BOE, with a reserve life index greater than 10 years [2]