Ovintiv Inc.

Ovintiv Inc. today issued the following statement: Ovintiv has received Kimmeridge's notice of its intent to nominate three director candidates to stand for election to our Board of Directors. We welcome discussions with all shareholders and have a history of open dialogue with all shareholders, including Kimmeridge. Our Corporate Responsibility and Governance Committee will carefully review the nominations. Ovintiv's [...]

Nominations come after Board has failed to properly evaluate recommendations to position Ovintiv as a leading E&P Board refreshment is an important step in restoring accountability and investor confidence Kimmeridge's slate brings substantial ownership and diversity of perspectives Kimmeridge Energy Management Company, LLC , a private investment firm focused on upstream energy, today announced its nomination of three [...]

Ovintiv dramatically underperforms peers and the energy sector Total Shareholder Return of since the current CEO joined in 2013; net debt increased 53% and $12.7B in impairment charges were recorded; CEO awarded over $75M in compensation over the same period CEO and Ovintiv Board own less than 0.2% of shares outstanding Kimmeridge proposes framework for restoring confidence in Ovintiv by addressing deficiencies in capital [...]

Ovintiv Inc. today announced preliminary financial results and select operating metrics for its fourth quarter and fiscal year ended December 31, 2020. Highlights: Reduced total long-term debt, including current portion, by $257 million in the fourth quarter. Ovintiv has been focused on debt reduction and has a plan to reduce total debt by at least $1 billion from the second half of 2020 through year-end 2021. As of [...]

Metric to be directly tied to compensation for all employees Ovintiv Inc. today disclosed a goal to reduce methane intensity 33% by 2025. The objective, approved this week by its board of directors, will be tied to Ovintiv's annual incentive compensation program for all employees beginning in 2021. The significant reduction will be benchmarked against the Company's 2019 actual methane intensity of 0.15 metric tons [...]

Ovintiv Inc. today announced that Meg A. Gentle has been named as an independent member of its board of directors, effective December 16, 2020. Gentle, 46, currently serves as the president and chief executive officer of Tellurian Inc. and as a member of its board of directors. Before joining Tellurian in 2016, she served as CFO and executive vice president of marketing for Cheniere Energy. Gentle graduated from James [...]

Ovintiv Inc. today named Brendan M. McCracken as president, effective December 1, 2020. "Today's appointment recognizes Brendan's significant impact on our success and reflects our confidence in his leadership," said CEO Doug Suttles. "This move is part of our ongoing executive development and ensures that we have leaders for the future." McCracken will maintain his current responsibilities of investor relations, external [...]

Commits to emissions-related performance metrics for 2021; delivers sixth safest year Ovintiv Inc. today published its Sustainability Report, focusing on the Company's innovative leadership in sustainability and highlighting its significant achievements in environmental, social and corporate governance. "We understand that investors and society expect more transparency, more consistency and continuous performance [...]

Results strengthen outlook for 2021 Scenario Consistent framework provided for future capital allocation and debt reduction Highlights: Posted $47 million of non-GAAP free cash flow and reduced net debt by $217 million during the third quarter, reaffirmed pledge that all excess cash flows will go toward debt reduction Reported third quarter cash from operating activities of $493 million and non-GAAP cash flow of $398 [...]

Ovintiv Inc. today announced plans to hold its 2020 third quarter results conference call at 9 a.m. MT on Thursday, October 29, 2020. The Company plans to release its third quarter financial and operating results after market close on Wednesday, October 28, 2020. In addition to the release, supplemental slides and financial statements will be available on the Company's website, located at www.ovintiv.com. To participate [...]