Strong 2023 Operational Execution; Enhanced Capital Efficiency Expected in 2024

Highlights:                                                                        

Full Year 2023

Generated net earnings of $2.1 billion, cash from operating activities of $4.2 billion, Non-GAAP Cash Flow of $3.9 billion and Non-GAAP Free Cash Flow of $1.2 billion after capital expenditures of $2.7 billionExceeded high end of full year production guidance on every product with average total volumes of 566 thousand barrels of oil equivalent per day ("MBOE/d"), including 202 thousand barrels per day ("Mbbls/d") of oil and condensate, 90 Mbbls/d of other NGLs (C2 to C4) and 1,642 million cubic feet per day ("MMcf/d") of natural gasReturned $733 million to shareholders through the combination of base dividend payments and share buybacksAcquired and seamlessly integrated high-quality Permian assets comprising approximately 65,000 net acres of largely undeveloped land directly adjacent to the Company's existing Permian operationsClosed the sale of the Company's Bakken assets, representing Ovintiv's exit from the playAnnounced the Company's inclusion on the S&P 400 index effective June 20, 2023

DENVER, Jan. 26, 2024 /CNW/ - Ovintiv Inc. (NYSE: OVV) (TSX: OVV) today announced plans to hold its 2023 fourth quarter and year-end results conference call at 8:00 a.m. MT, on Wednesday February 28, 2024. The Company plans to release its financial and operating results after market close, Tuesday February 27, 2024. In addition to the release, supplemental slides and financial statements will be available on the Company's website, located at www.ovintiv.com.

To join the conference call without operator assistance, you may register and enter your phone number at https://emportal.ink/3Segm9H to receive an instant automated call back.

DENVER, Jan. 26, 2024 /PRNewswire/ - Ovintiv Inc. (NYSE: OVV) (TSX: OVV) today announced plans to hold its 2023 fourth quarter and year-end results conference call at 8:00 a.m. MT, on Wednesday February 28, 2024. The Company plans to release its financial and operating results after market close, Tuesday February 27, 2024. In addition to the release, supplemental slides and financial statements will be available on the Company's website, located at www.ovintiv.com.

To join the conference call without operator assistance, you may register and enter your phone number at https://emportal.ink/3Segm9H to receive an instant automated call back.

DENVER, Jan. 11, 2024 /CNW/ - Ovintiv Inc. (NYSE: OVV) (TSX: OVV) today announced that Sippy Chhina has been named as an independent member of its board of directors, effective January 15, 2024.

Chhina, 57, recently retired as a Partner at Deloitte Canada LLP, a leading multinational professional services network, where she held various roles since 2006. In addition to her client responsibilities, she also served as a member on the Board of Deloitte Canada and was a Vice Chair of the Firm. Prior to joining Deloitte Canada, Chhina served in roles of increasing responsibility with BDO LLP, including Partner from 1999 to 2006. She brings deep technical expertise in accounting, audit and financial reporting matters, extensive energy industry experience and professional services experience. Chhina immigrated to Canada from India in 1985, is a Chartered Professional Accountant and has her ICD.D designation from the Institute of Corporate Directors. 

DENVER, Jan. 11, 2024 /PRNewswire/ - Ovintiv Inc. (NYSE: OVV) (TSX: OVV) today announced that Sippy Chhina has been named as an independent member of its board of directors, effective January 15, 2024.

Chhina, 57, recently retired as a Partner at Deloitte Canada LLP, a leading multinational professional services network, where she held various roles since 2006. In addition to her client responsibilities, she also served as a member on the Board of Deloitte Canada and was a Vice Chair of the Firm. Prior to joining Deloitte Canada, Chhina served in roles of increasing responsibility with BDO LLP, including Partner from 1999 to 2006. She brings deep technical expertise in accounting, audit and financial reporting matters, extensive energy industry experience and professional services experience. Chhina immigrated to Canada from India in 1985, is a Chartered Professional Accountant and has her ICD.D designation from the Institute of Corporate Directors. 

DENVER, Nov. 20, 2023 /CNW/ - Ovintiv Inc. (NYSE: OVV) (TSX: OVV) (the "Company") today announced the upsize and pricing of a previously announced underwritten public offering of its common stock (the "Offering") by NMB Stock Trust, a Delaware statutory trust (the "Selling Stockholder"). The size of the Offering increased from the previously announced 8,400,000 shares to an aggregate of 9,400,000 shares of the Company's common stock at a price to the public of US$44.35 per share, for gross proceeds of approximately US$416.9 million, before underwriting discount and estimated offering expenses. The Company will not sell any shares of its common stock in the Offering and will not receive any proceeds from the sale of the shares in the Offering. The Offering is expected to close on November 22, 2023, subject to customary closing conditions.

DENVER, Nov. 20, 2023 /PRNewswire/ - Ovintiv Inc. (NYSE: OVV) (TSX: OVV) (the "Company") today announced the upsize and pricing of a previously announced underwritten public offering of its common stock (the "Offering") by NMB Stock Trust, a Delaware statutory trust (the "Selling Stockholder"). The size of the Offering increased from the previously announced 8,400,000 shares to an aggregate of 9,400,000 shares of the Company's common stock at a price to the public of US$44.35 per share, for gross proceeds of approximately US$416.9 million, before underwriting discount and estimated offering expenses. The Company will not sell any shares of its common stock in the Offering and will not receive any proceeds from the sale of the shares in the Offering. The Offering is expected to close on November 22, 2023, subject to customary closing conditions.

DENVER, Nov. 20, 2023 /PRNewswire/ - Ovintiv Inc. (NYSE: OVV), (TSX: OVV) (the "Company" or "Ovintiv") today announced that NMB Stock Trust, a Delaware statutory trust (the "Selling Stockholder"), intends to offer for sale 8,400,000 shares of the Company's common stock, par value US$0.01 per share, pursuant to the Company's shelf registration statement previously filed with the Securities and Exchange Commission (the "Offering"). Ovintiv issued the shares to the Selling Stockholder on June 12, 2023 as part of the consideration for the Company's acquisition of certain upstream oil and gas assets located in the Permian Basin from portfolio companies of funds managed by EnCap Investments L.P.

DENVER, Nov. 20, 2023 /CNW/ - Ovintiv Inc. (NYSE: OVV), (TSX: OVV) (the "Company" or "Ovintiv") today announced that NMB Stock Trust, a Delaware statutory trust (the "Selling Stockholder"), intends to offer for sale 8,400,000 shares of the Company's common stock, par value US$0.01 per share, pursuant to the Company's shelf registration statement previously filed with the Securities and Exchange Commission (the "Offering"). Ovintiv issued the shares to the Selling Stockholder on June 12, 2023 as part of the consideration for the Company's acquisition of certain upstream oil and gas assets located in the Permian Basin from portfolio companies of funds managed by EnCap Investments L.P.

Strong Well Results and Successful Acquisition Integration Drive Increased Full Year Production Guidance

Highlights:

Generated net earnings of $406 million, cash from operating activities of $906 million, Non-GAAP Cash Flow of $1,112 million and Non-GAAP Free Cash Flow of $278 million after capital expenditures of $834 millionThird quarter production was at or above the high end of guidance on every product with average total production volumes of 572 thousand barrels of oil equivalent per day ("MBOE/d"), including 214 thousand barrels per day ("Mbbls/d") of oil and condensate, 87 Mbbls/d of other NGLs (C2 to C4) and 1,625 million cubic feet per day ("MMcf/d") of natural gasIncreased full year 2023 production guidance and tightened the range for full year capital guidanceReturned $127 million to shareholders through the combination of base dividend payments and share buybacksReceived regulatory approval for the renewal of the Company's normal course issuer bid, or NCIB program, enabling the Company to purchase up to approximately 26.7 million shares of common stock over a 12-month period ending October 2, 2024

Strong Well Results and Successful Acquisition Integration Drive Increased Full Year Production Guidance

Highlights:

Generated net earnings of $406 million, cash from operating activities of $906 million, Non-GAAP Cash Flow of $1,112 million and Non-GAAP Free Cash Flow of $278 million after capital expenditures of $834 millionThird quarter production was at or above the high end of guidance on every product with average total production volumes of 572 thousand barrels of oil equivalent per day ("MBOE/d"), including 214 thousand barrels per day ("Mbbls/d") of oil and condensate, 87 Mbbls/d of other NGLs (C2 to C4) and 1,625 million cubic feet per day ("MMcf/d") of natural gasIncreased full year 2023 production guidance and tightened the range for full year capital guidanceReturned $127 million to shareholders through the combination of base dividend payments and share buybacksReceived regulatory approval for the renewal of the Company's normal course issuer bid, or NCIB program, enabling the Company to purchase up to approximately 26.7 million shares of common stock over a 12-month period ending October 2, 2024

DENVER, Oct. 10, 2023 /CNW/ - Ovintiv Inc. (NYSE: OVV) (TSX: OVV) today announced plans to hold its third quarter 2023 results conference call at 10:00 a.m. MT, on Wednesday November 8, 2023. The Company plans to release its financial and operating results after market close, Tuesday November 7, 2023. In addition to the release, supplemental slides and financial statements will be available on the Company's website, located at www.ovintiv.com.

To join the conference call without operator assistance, you may register and enter your phone number at https://emportal.ink/3nQ9Md7 to receive an instant automated call back.

DENVER, Oct. 10, 2023 /CNW/ - Ovintiv Inc. (NYSE: OVV) (TSX: OVV) today announced plans to hold its third quarter 2023 results conference call at 10:00 a.m. MT, on Wednesday November 8, 2023. The Company plans to release its financial and operating results after market close, Tuesday November 7, 2023. In addition to the release, supplemental slides and financial statements will be available on the Company's website, located at www.ovintiv.com.

To join the conference call without operator assistance, you may register and enter your phone number at https://emportal.ink/3nQ9Md7 to receive an instant automated call back.

Company Receives TSX Approval for Renewal of Normal Course Issuer Bid

DENVER, Sept. 26, 2023 /CNW/ - Ovintiv Inc. (NYSE: OVV) (TSX: OVV) today announced it has received regulatory approvals for the renewal of its share buy-back program. This action is consistent with the Company's capital allocation framework, which returns at least 50 percent of post base dividend Non-GAAP Free Cash Flow to shareholders.

The Toronto Stock Exchange ("TSX") has accepted Ovintiv's notice of intention to renew its normal course issuer bid ("NCIB") to purchase up to 26,734,819 common shares during the 12-month period commencing October 3, 2023, and ending October 2, 2024. The number of shares authorized for purchase represents 10 percent of Ovintiv's public float as of September 21, 2023, as calculated pursuant to TSX rules.  Purchases will be made on the open market through the facilities of the TSX, New York Stock Exchange ("NYSE") and/or alternative trading systems at the market price at the time of acquisition, as well as by other means permitted by stock exchange rules and securities laws including Rule 10b-18 under the Securities Exchange Act of 1934, as amended.

Company Receives TSX Approval for Renewal of Normal Course Issuer Bid

DENVER, Sept. 26, 2023 /PRNewswire/ - Ovintiv Inc. (NYSE: OVV) (TSX: OVV) today announced it has received regulatory approvals for the renewal of its share buy-back program. This action is consistent with the Company's capital allocation framework, which returns at least 50 percent of post base dividend Non-GAAP Free Cash Flow to shareholders.

The Toronto Stock Exchange ("TSX") has accepted Ovintiv's notice of intention to renew its normal course issuer bid ("NCIB") to purchase up to 26,734,819 common shares during the 12-month period commencing October 3, 2023, and ending October 2, 2024. The number of shares authorized for purchase represents 10 percent of Ovintiv's public float as of September 21, 2023, as calculated pursuant to TSX rules.  Purchases will be made on the open market through the facilities of the TSX, New York Stock Exchange ("NYSE") and/or alternative trading systems at the market price at the time of acquisition, as well as by other means permitted by stock exchange rules and securities laws including Rule 10b-18 under the Securities Exchange Act of 1934, as amended.

DENVER, Sept. 11, 2023 /PRNewswire/ - Ovintiv Inc. (NYSE: OVV) ( TSX: OVV) (the "Company") today announced the pricing of an underwritten public offering of 15,000,000 shares of its common stock by NMB Stock Trust, a Delaware statutory trust (the "Selling Stockholder"), for gross proceeds of approximately US$684.8 million (the "Offering"). The Company will not sell any shares of its common stock in the Offering and will not receive any proceeds from the sale of the shares in the Offering. The Offering is expected to close on September 13, 2023, subject to customary closing conditions.

DENVER, Sept. 11, 2023 /CNW/ - Ovintiv Inc. (NYSE: OVV) ( TSX: OVV) (the "Company") today announced the pricing of an underwritten public offering of 15,000,000 shares of its common stock by NMB Stock Trust, a Delaware statutory trust (the "Selling Stockholder"), for gross proceeds of approximately US$684.8 million (the "Offering"). The Company will not sell any shares of its common stock in the Offering and will not receive any proceeds from the sale of the shares in the Offering. The Offering is expected to close on September 13, 2023, subject to customary closing conditions.

DENVER, Sept. 11, 2023 /CNW/ - Ovintiv Inc. (NYSE: OVV) (TSX: OVV) (the "Company" or "Ovintiv") today announced that NMB Stock Trust, a Delaware statutory trust (the "Selling Stockholder"), intends to offer for sale 15,000,000 shares of the Company's common stock, par value $0.01 per share, pursuant to the Company's shelf registration statement previously filed with the Securities and Exchange Commission (the "Offering").

The Offering consists entirely of secondary shares to be sold by the Selling Stockholder. The Selling Stockholder will receive all of the net proceeds from the Offering. Ovintiv is not offering any shares of common stock in the Offering and will not receive any proceeds from the sale of shares in the Offering. Ovintiv issued the shares to the Selling Stockholder on June 12, 2023 as part of the consideration for its acquisition of certain upstream oil and gas assets located in the Permian Basin from portfolio companies of funds managed by EnCap Investments L.P. The Offering is subject to market and other conditions, and there can be no assurance as to whether or when the Offering may be completed.

DENVER, Sept. 11, 2023 /PRNewswire/ - Ovintiv Inc. (NYSE: OVV) (TSX: OVV) (the "Company" or "Ovintiv") today announced that NMB Stock Trust, a Delaware statutory trust (the "Selling Stockholder"), intends to offer for sale 15,000,000 shares of the Company's common stock, par value $0.01 per share, pursuant to the Company's shelf registration statement previously filed with the Securities and Exchange Commission (the "Offering").

The Offering consists entirely of secondary shares to be sold by the Selling Stockholder. The Selling Stockholder will receive all of the net proceeds from the Offering. Ovintiv is not offering any shares of common stock in the Offering and will not receive any proceeds from the sale of shares in the Offering. Ovintiv issued the shares to the Selling Stockholder on June 12, 2023 as part of the consideration for its acquisition of certain upstream oil and gas assets located in the Permian Basin from portfolio companies of funds managed by EnCap Investments L.P. The Offering is subject to market and other conditions, and there can be no assurance as to whether or when the Offering may be completed.