Energy

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 ...

Metric to be directly tied to compensation for all employees

 Ovintiv Inc. (NYSE: OVV) (TSX: OVV) 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 CH 4 thousand barrels of oil equivalent (CH 4 MBOE), which was recently disclosed in its 16 th annual sustainability report ( https:www.ovintiv.comsustainability ). The 33% reduction in methane intensity to 0.10 metric tons CH 4 MBOE by 2025 will significantly reduce greenhouse gas emissions.

Independent Board Chair Peter Dea said, "ESG is one of the board's highest priorities. We safely produce the products that make modern life possible and realize the importance of reducing our emissions. From our ongoing dialog with investors and other stakeholders, we know they share the importance we place on this topic."

Ovintiv CEO Doug Suttles said, "We are proud of our track record on environmental performance but know we need to do more. By setting this ambitious target and linking it to every employee's compensation we are sending a clear signal. Based on our team's track record of innovation and efficient delivery, I'm confident we'll meet this target and strive to exceed it."

Ovintiv has been a leader and early adopter of key disclosure frameworks from the Task Force on Climate-related Financial Disclosures (TCFD) and the Sustainability Accounting Standards Board (SASB). A methane-focused reduction metric supports the United Nation's Sustainable Development Goals and provides guidance to direct the Company's approach to sustainability. Ovintiv executives also serve in leadership roles on climate-related issues within the largest industry trade associations in North America and are collaborating with industry peers to ensure the consistent disclosure of key metrics.

About Ovintiv Inc.

Ovintiv is one of the largest producers of oil, condensate and natural gas and natural gas liquids in North America . The Company is committed to preserving its financial strength, maximizing profitability through disciplined capital investments and operational efficiencies and returning capital to shareholders. A talented team, in combination with a culture of innovation and efficiency, fuels our economic performance, increases shareholder value and strengthens our commitment to sustainability in the communities where we live and work.

ADVISORY REGARDING FORWARD-LOOKING STATEMENTS – This news release contains certain forward-looking statements or information (collectively, "FLS") within the meaning of applicable securities legislation, including the United States Private Securities Litigation Reform Act of 1995. FLS include: the Company's aim to reduce methane intensity 33% by 2025; anticipated benefits of linking a methane intensity metric to the Company's annual incentive compensation program; and the ability of the Company to achieve meaningful emissions reductions under multiple future development scenarios. FLS involve assumptions, risks and uncertainties that may cause such statements not to occur or results to differ materially. These assumptions include expectations and projections made in light of the Company's historical experience. Risks and uncertainties include: changes or developments in environmental, greenhouse gas, carbon, tax and other laws or regulations; technological developments; and other risks and uncertainties as described in the Company's Annual Report on Form 10-K, Quarterly Report on Form 10-Q and as described from time to time in its other periodic filings as filed on EDGAR and SEDAR. Although the Company believes such FLS are reasonable, there can be no assurance they will prove to be correct. The above assumptions, risks and uncertainties are not exhaustive. FLS are made as of the date hereof and, except as required by law, the Company undertakes no obligation to update or revise any FLS.

Further information on Ovintiv Inc. is available on the Company's website, www.ovintiv.com , or by contacting:

Investor contact:

Media contact:

(888) 525-0304

(281) 210-5253

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SOURCE Ovintiv Inc.

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Rising Phoenix Royalties Announces 3rd Acquisition in 2022...Woodford Basin, Stephens County, Oil and Natural Gas Royalty Acquisition

Rising Phoenix Royalties (RPR) reveals a 49% oil51% natural gas royalty acquisition of roughly 5 net royalty acres from an undisclosed seller in the Woodford Basin, Stephens County, OK. Ovintiv Inc. (NYSE: OVV) (TSX: OVV) is the well-site Operator.

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Decklar Resources Inc. Announces Closing of Funding Transaction With San Leon Energy

Decklar Resources Inc. Announces Closing of Funding Transaction With San Leon Energy

  • Decklar Petroleum and San Leon have agreed to new terms on financing arrangements whereby San Leon will advance US$4,750,000 immediately and an additional US$2,000,000 by April 30, 2022 (or San Leon will accept a pro rata reduction in its shareholding in Decklar Petroleum).
  • Terms of previously announced agreements between Decklar Petroleum and San Leon have been modified in order to complete the transaction.
  • The Option Agreement that would have entitled San Leon to additional participation in the Oza Oil Field and additional ownership in Decklar Petroleum has been terminated.
  • San Leon will be involved in planning and location of the first new well to be drilled on the Oza Oil Field.

Decklar Resources Inc. (TSX-V: DKL) (OTCQX: DLKRF) (FSE: A1U1) ( the "Company" or "Decklar") is pleased to announce the closing of a funding agreement with San Leon Energy Plc (" San Leon ") whereby the previously announced Subscription Agreement will be completed for gross proceeds of US$7,500,000 (of which US$750,000 was previously paid as a refundable deposit) with US$4,750,000 paid immediately and US$2,000,000 to be paid by April 30, 2022.

As detailed below, in 2020, the Company announced that San Leon had conditionally agreed to advance US$7,500,000 by way of a loan to Decklar's wholly-owned subsidiary, Decklar Petroleum Limited (" Decklar Petroleum "). San Leon also announced that it was subscribing for a 15% equity interest in Decklar Petroleum in order to participate in the Oza Oil Field in Nigeria. San Leon advanced an initial deposit of US$750,000 at the time of the agreement, with US$6,750,000 of San Leon's proposed loan remaining in escrow and to be released upon satisfaction (or waiver) of certain conditions precedent. Delays were experienced in concluding conditions precedent to the San Leon transaction, and Decklar proceeded to complete the re-entry and testing of the Oza-1 well. Based upon the Oza-1 well test, which indicated positive oil results from two zones and gas in a third zone, San Leon has agreed to advance the additional funds and to proceed with its investment in Decklar Petroleum. Decklar has agreed to modified terms to proceed with the arrangement with San Leon and to involve San Leon in future development planning.

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Ian Atkinson, President and CEO of Southern, commented:

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Southern Energy Corp. ("Southern" or the "Company") (TSXV:SOU)(AIM:SOUC) announces the following purchases of Company common shares. The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail on the applicable transaction

1. Details of the person discharging managerial responsibilities / person closely associated
a) Name Steven Smith
2. Reason for the notification
a) Position/status Director
b) Initial notification /Amendment Initial notification
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a) Name Southern Energy Corp.
b) LEI 213800R25GL7J3EBJ698
4. Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a) Description of the financial instrument, type of instrument Common shares in Southern Energy Corp.
Identification code CA8428133059
b) Nature of the transaction Purchase of common shares on the open market
c) Price(s) and volume(s) 200,000 common shares at a price of CAD0.4088
d) Aggregated information N/A
e) Date of the transaction 18 January 2022
f) Place of the transaction Toronto Stock Exchange

For further information, please contact:

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Southern Energy CEO Ian Atkinson

Southern Energy CEO Ian Atkinson: Redeveloping and Recapitalizing Reservoirs for the Clean Energy Market

Southern Energy (TSXV:SOU) is pivoting away from burning coal to generate power, and Southern Energy CEO Ian Atkinson says the company's strategy focuses on the conventional nature of some undercapitalized assets.

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 Ovintiv Inc. (NYSE: OVV) (TSX: OVV) today announced plans to hold its 2021 fourth quarter and year-end results conference call at 9:00 a.m. MT on Friday, February 25, 2022 . The Company plans to release its financial and operating results after market close, Thursday, February 24, 2022 . In addition to the release, supplemental slides and financial statements will be available on the Company's website, located at www.ovintiv.com .

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