Company Launches New Sustainability Website Ovintiv Inc. today announced the achievement of several sustainability milestones related to emissions reductions, social responsibility and corporate governance. In addition, the Company has launched a new dynamic sustainability website, highlighting Ovintiv's data-driven approach to environmental, social and governance performance matters. "Ovintiv is at the forefront of [...]
Company Announces TSX Acceptance of Normal Course Issuer Bid Ovintiv today announced it is progressing its commitment to increase shareholder returns with the receipt of regulatory approvals for a share buy-back program. This action is consistent with the Company's capital allocation framework, which supports the goal of unlocking shareholder value by delivering on Ovintiv's strategic priorities of financial strength [...]
Ovintiv Inc. today announced a new capital allocation framework, which supports the Company's goal of unlocking shareholder value by delivering on its strategic priorities of financial strength, increasing cash returns to shareholders, generating superior returns on capital investment, and driving ESG progress. "We are committed to unlocking shareholder value by delivering on our strategic priorities," said Ovintiv [...]
Brendan McCracken, Ovintiv President & CEO, will be participating in a fireside chat at the Barclays CEO Energy-Power Conference on Friday, September 10th, starting at 10:20 a.m. ET. The presentation will last approximately 30 minutes. The live webcast, an accompanying slide presentation and a replay will be available on Ovintiv's website under Presentations and Events. About Ovintiv Inc. Ovintiv is one of the largest [...]
Dividend Increased by ~50%, New Debt Target Established Second Quarter Highlights: Generated second quarter cash from operating activities of $750 million, non-GAAP cash flow of $733 million and non-GAAP free cash flow of $350 million Reduced net debt by $1.2 billion to $5.2 billion; accelerated expected timeline of $4.5 billion net debt target to year-end 2021 Continued to demonstrate industry-leading capital [...]
Ovintiv Inc. today announced that it has issued a notice to the trustee of its 3.90% notes due 2021 to redeem the entire $517,823,000 aggregate principal amount. The outstanding 2021 notes will be redeemed, pursuant to their terms and conditions, on August 16, 2021. ADVISORY REGARDING FORWARD-LOOKING STATEMENTS - This news release is not a notice of redemption with respect to the 2021 notes. This news release contains [...]
Ovintiv Inc. today announced plans to hold its second quarter 2021 results conference call at 7:30 a.m. MT, on Wednesday July 28, 2021. The Company plans to release its financial and operating results after market close, Tuesday July 27, 2021. 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 in the conference [...]
Ovintiv Inc. today announced that George L. Pita has been named as an independent member of its board of directors, effective July1, 2021. Pita, 59, currently serves as the executive vice president and chief financial officer of MasTec, Inc. , a leading North American infrastructure construction company. Before joining MasTec in 2013, he served in various leadership positions across multiple industries including CFO and [...]
Ovintiv Names Brendan McCracken as CEO Ovintiv Inc.'s CEO Doug Suttles announced today he will retire effective August 1, 2021. Ovintiv's Board of Directors has named Brendan McCracken as President & Chief Executive Officer and elected him to the Board effective August 1, 2021. Ovintiv Board Chair Peter Dea said, "On behalf of our Board, employees and shareholders, we wholeheartedly thank Doug for his dedicated service to [...]
Highlights: Closed previously announced Eagle Ford asset sale Issued notice to fully redeem outstanding 2022 notes in June of 2021 Announced intention to fully redeem outstanding 2021 notes at par in mid-August Ovintiv Inc. today closed its previously announced Eagle Ford asset sale. The proceeds from this sale, combined with those recently received from the Duvernay asset sale, will be used for debt reduction. In [...]
Ovintiv Inc. today announced that the following matters, as further described in the Company's Proxy Statement filed on March 12, 2021 , were voted upon at its 2021 Annual Meeting of Shareholders held on April 28, 2021. 1. Election of Directors Each nominee listed in the Proxy Statement was elected as a director of the Company. The results of the vote by ballot were as follows: Name of Nominee Votes For Percent Votes [...]
Strong start to 2021 accelerates debt paydown Highlights: First quarter 2021 net earnings of $309 million , cash from operating activities of $827 million and non-GAAP cash flow of $890 million Generated $540 million of non-GAAP free cash flow in the quarter and reduced total debt by $467 million to $6.4 billion Exceeded divestiture target with more than $1.1 billion in announced asset sales; well ahead of year-end 2022 [...]
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