Ovintiv Inc - Company Profile
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Business Description
Ovintiv Inc (Ovintiv) is an upstream oil and natural gas exploration and production company. The company focuses on the development of a multi-basin portfolio of oil, natural gas liquids, and natural gas in the US and Canada. Its operations include the marketing of oil, Natural Gas Liquids (NGLs), and natural gas. The company operates through three business segments: USA Operations; Canadian Operations; and Corporate and Other. In FY2024, the company's capital expenditure stood at US$2,303 million, which declined 16.1% YoY. As of December 2024, the company had 580 MMbbls of proved reserves; 634.2 MMbbls reserves of NGLs; 5,057 Bcf reserves of natural gas; and 2,057.1 MMBOE of total proved reserves. It also had 5,437 total net productive wells.
Business Segments
Overview
It includes the exploration for, development of, and production of NGLs, natural gas, and other related activities within Canada. Major plays in Canada include Montney in northeast British Columbia; northwest Alberta; and Horn River in northeast British Columbia. In FY2024, the segment incurred a capital expenditure of US$428 million, which declined 22% YoY.
Performance
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Overview
It includes the Exploration, development, and production of oil, NGLs, natural gas, and other related activities in the US. Major petroleum plays include Permian in west Texas, Anadarko in west-central Oklahoma; and Uinta in northeastern Utah. In FY2024, the segment incurred a capital expenditure of US$1,868 million, which declined 14.7% YoY.
Performance
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Overview
It includes amounts related to sublease rentals. In FY2024, the segment incurred a capital expenditure of US$7 million, which grew 16.7% YoY.
Performance
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