Ovintiv
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About Ovintiv
Industries
Industrial & Manufacturing
Energy
Company Size
1,001-5,000
Company Stage
IPO
Headquarters
Calgary, Canada
Founded
1971
Overview
Simplify's Take
What believers are saying
- Montney asset integration may lead to operational synergies and cost efficiencies.
- Increased free cash flow and reduced debt levels indicate strong financial health.
- Terri King's appointment could enhance strategic decision-making and market reach.
What critics are saying
- Competition in Montney could reduce prices and margins for Ovintiv.
- Stricter Canadian environmental regulations may increase operational costs.
- Oil price volatility due to geopolitical tensions could impact Ovintiv's revenue.
What makes Ovintiv unique
- Ovintiv's Montney acquisition enhances its position in a prolific natural gas region.
- The appointment of Terri King strengthens Ovintiv's board with global production expertise.
- Streamlining through Uinta asset sale focuses Ovintiv on high-return core areas.
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Funding
Total Funding
$0
Below
Industry Average
Funded Over
2 Rounds
Benefits
Unlimited Paid Time Off
Flexible Work Hours
Company News
Ovintiv Inc. (OVV): among the Best Cheap Energy Stocks to Invest in Now.
2024 Non-GAAP Free Cash Flow Up Approximately 50% Year-Over-Year. Highlights:. Full Year 2024 Generated cash from operating activities of $3.7 billion, Non-GAAP Cash Flow of $4.0 billion and Non-GAAP Free Cash Flow of $1.7 billion after capital expenditures of $2.3 billion
DENVER, Jan. 31, 2025 /PRNewswire/ - Ovintiv Inc. (NYSE: OVV) (TSX: OVV) ("Ovintiv" or the "Company") today closed the previously announced acquisition of certain Montney assets from Paramount Resources Ltd. The acquisition adds approximately 70 thousand barrels of oil equivalent per day ("MBOE/d") of production, 900 net 10,000 foot equivalent well locations, and approximately 109,000 net acres of land, strategically located near the Company's current Montney operations with ample access to midstream infrastructure capacity. "We are set to rapidly integrate the new Montney asset into our portfolio," said Ovintiv President and CEO, Brendan McCracken. "We consider it to be one of the highest quality undeveloped acreage positions in North America
DENVER, Jan. 27, 2025 /PRNewswire/ - Ovintiv Inc. (NYSE: OVV) (TSX: OVV) today announced that Terri G. King has been named as an independent member of its board of directors, effective January 31, 2025. King, 63, retired from ConocoPhillips Company (ConocoPhillips) in 2023 as Chief Commercial Officer and Vice President. During her lengthy career with ConocoPhillips, she held various roles including President, Lower 48; President, Europe North Africa; President, United Kingdom; and General Manager of Global Production
DENVER, Jan. 22, 2025 /PRNewswire/ - Ovintiv Inc. (NYSE, TSX: OVV) ("Ovintiv" or the "Company") today closed the previously announced all cash sale of substantially all its Uinta assets, located in Utah, to FourPoint Resources, LLC, for approximately $2 billion. "The Uinta sale builds on our track record of unlocking significant value from our non-core assets while focusing our portfolio and extending inventory runway in our core areas," said Ovintiv President and CEO, Brendan McCracken. Ovintiv's previously announced acquisition of Alberta Montney assets from Paramount Resources Ltd. is expected to close before the end of the first quarter
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About Ovintiv
Industries
Industrial & Manufacturing
Energy
Company Size
1,001-5,000
Company Stage
IPO
Headquarters
Calgary, Canada
Founded
1971
Ovintiv is Hiring for 1 Jobs on Simplify!
Find jobs on Simplify and start your career today