Ovintiv Announces Release of 2022 Sustainability Report

Ovintiv Announces Release of 2022 Sustainability Report

 
 

 Ovintiv Inc. (NYSE: OVV) (TSX: OVV) today released its 2022 Sustainability Report, highlighting its progress and performance on several key sustainability initiatives related to emissions reductions, social responsibility and corporate governance.

 
 

  Ovintiv Announces Release of 2022 Sustainability Report (CNW Group/Ovintiv Inc.) 

 
 

"Ovintiv continues to drive real and measurable environment, social and governance progress," said Ovintiv President and CEO Brendan McCracken . "We strive to be a leader in disclosure, having published a sustainability report and key performance metrics data since 2005. Our results demonstrate our commitment to continuous improvement and the power of harnessing technology and our culture of innovation to drive strong performance outcomes. We are whole-heartedly proud to produce the safe, affordable, secure, and reliable energy the world needs, both profitably and sustainably."

 

Key highlights of Ovintiv's 2022 sustainability achievements:

 
  • Achieved a greater than 30% reduction in Scope 1 & 2 greenhouse gas emissions intensity since 2019; progressing toward a targeted 50% reduction by 2030
  •  
  • Continued full alignment with the World Bank Zero Routine Flaring Initiative
  •  
  • Implemented industry-leading family leave policy
  •  
  • Progressed Board renewal efforts with the addition of one new Board member
  •  
  • Introduced a second safety metric to the Company's compensation program
  •  
  • Committed to disclose extensive gender equality information, leading to the Company's inaugural inclusion in the Bloomberg Gender Equality Index
  •  

 Ovintiv recently announced an acquisition that will see the Company roughly double both its oil production and its premium inventory in the Permian Basin. The transaction is expected to be accretive across a number of key financial metrics and inventory life while maintaining the Company's investment grade balance sheet. While Ovintiv anticipates a brief period of integration of the new assets, the Company remains committed to its Scope 1 & 2 emissions reduction target.

 

 Ovintiv's sustainability report can be found on the Company's website at https://sustainability.ovintiv.com/  

 

  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 Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements that relate to the anticipated future activities or expectations of the Company are FLS. FLS in this news release include, but are not limited to: expectations of plans, strategies and objectives of the Company, including planned ESG initiatives; the anticipated success of, and benefits from, technology and innovation; the ability of the Company to meet and maintain certain targets, including with respect to emissions-related and ESG performance. FLS involve certain assumptions and are subject to both known and unknown risks and uncertainties, many of which are beyond our control. These assumptions include: the assumptions contained herein; data contained in key modeling statistics; and expectations and projections made in light of the Company's historical experience. Risks and uncertainties include: our ability to generate sufficient cash flow to meet obligations; commodity price volatility; uncertainties, costs, and risks involved in our operations, including hazards and risks incidental to the drilling, completion, production and transportation of oil, natural gas and natural gas liquids; ability to secure adequate transportation and storage for oil, natural gas and natural gas liquids; potential curtailments of gathering, transportation or refining operations, including resulting storage constraints or widening price differentials; business interruption, property and casualty losses or unexpected technical difficulties; counterparty and credit risk; impact of changes in credit rating and access to liquidity, including costs thereof; risks in marketing operations; risks associated with technology; risks associated with lawsuits, governmental regulations and regulatory actions, including disputes with partners and our ability to timely obtain environmental or other necessary permits; our ability to acquire or find additional reserves; imprecision of reserves estimates and estimates of recoverable quantities; 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. The above assumptions, risks and uncertainties are not exhaustive. Actual future results may vary materially and adversely from those expressed or implied in our FLS and such statements may not occur. Although the Company believes such FLS are reasonable, FLS should be understood to be only predictions and statements of our current beliefs; they are not guarantees of performance. 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 at www.ovintiv.com , or by contacting:

Investor contact: (888) 525-0304  
investor.relations@ovintiv.com  

 

  Media contact: (403) 645-2252  

 
 
 

 Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/ovintiv-announces-release-of-2022-sustainability-report-301822206.html  

 

SOURCE Ovintiv Inc.

 

 

 

 Cision View original content to download multimedia: https://www.newswire.ca/en/releases/archive/May2023/11/c9376.html  

 
 

News Provided by Canada Newswire via QuoteMedia

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Ovintiv Announces Closing of Midland and Bakken Transactions & Inclusion in S&P 400 Index

 
 

  Company Updates 2023 Guidance for Early Close  

 

 Ovintiv Inc. (NYSE: OVV) (TSX: OVV) ("Ovintiv" or the "Company") today closed the previously announced acquisition of core Midland Basin assets, adding approximately 1,050 net 10,000 foot well locations and approximately 65,000 net acres of largely undeveloped land adjacent to Ovintiv's existing Permian operations. The Company has acquired substantially all the leasehold interest and related assets of Black Swan Oil & Gas, PetroLegacy Energy and Piedra Resources, which are portfolio companies of funds managed by EnCap Investments L.P. ("EnCap"), in a cash and stock transaction valued at $4.275 billion .

 

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Ovintiv Inc. (NYSE: OVV) (TSX: OVV) (the "Company") today announced that it has priced an offering (the "Notes Offering") of $600,000,000 in aggregate principal amount of 5.650% senior notes due 2025 (the "2025 Notes"), $700,000,000 in aggregate principal amount of 5.650% senior notes due 2028 (the "2028 Notes"), $600,000,000 in aggregate principal amount of 6.250% senior notes due 2033 (the "2033 Notes") and $400,000,000 in aggregate principal amount of 7.100% senior notes due 2053 (the "2053 Notes", and together with the 2025 Notes, the 2028 Notes and the 2033 Notes, the "Notes"). The price to the public for the Notes is 99.994% of the principal amount for the 2025 Notes, 99.973% of the principal amount for the 2028 Notes, 99.793% of the principal amount for the 2033 Notes and 99.796% of the principal amount for the 2053 Notes.

 

 

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Ovintiv Announces Results of Annual Meeting

Ovintiv Announces Results of Annual Meeting

 
 

Ovintiv Inc. (NYSE: OVV) (TSX: OVV) (the "Company") today announced that the following matters, as further described in the Company's Proxy Statement filed on March 23, 2023 (the "Proxy Statement"), were voted upon at its 2023 Annual Meeting of Shareholders held on May 3, 2023 .

 
 

  Ovintiv Announces Results of Annual Meeting (CNW Group/Ovintiv Inc.) 

 

  Election of Director Nominees Listed in the Proxy Statement  

 

Each director nominee listed in the Proxy Statement was elected as a director of the Company.  The results of the vote by ballot were as follows:

 
 
                                                                 
 
 

    Shares For    

 
 

    Shares Against    

 
 

    Abstain    

 
 

    Broker     Non-vote    

 
 

  Peter A. Dea  

 
 

  168,404,785  

 
 

  5,047,161  

 
 

  130,316  

 
 

  19,755,443  

 
 

  Meg A. Gentle  

 
 

  169,689,545  

 
 

  3,737,410  

 

 

  155,307  

 
 

  19,755,443  

 
 

  Ralph Izzo  

 
 

  171,659,752  

 
 

  1,696,254  

 
 

  226,256  

 
 

  19,755,443  

 
 

  Howard J. Mayson  

 
 

  170,339,842  

 
 

  3,107,225  

 
 

  135,195  

 
 

  19,755,443  

 
 

  Brendan M. McCracken  

 
 

  172,605,556  

 
 

  825,099  

 
 

  151,607  

 
 

  19,755,443  

 
 

  Lee A. McIntire  

 
 

  166,563,086  

 
 

  6,842,816  

 
 

  176,360  

 
 

  19,755,443  

 
 

  Katherine L. Minyard  

 
 

  171,973,771  

 
 

  1,444,588  

 
 

  163,903  

 
 

  19,755,443  

 
 

  Steven W. Nance  

 
 

  172,011,222  

 
 

  1,397,006  

 
 

  174,034  

 
 

  19,755,443  

 
 

  Suzanne P. Nimocks  

 
 

  157,900,679  

 
 

  15,424,515  

 
 

  257,068  

 
 

  19,755,443  

 
 

  George L. Pita  

 
 

  172,022,482  

 
 

  1,389,605  

 
 

  170,175  

 
 

  19,755,443  

 
 

  Thomas G. Ricks  

 
 

  165,904,949  

 
 

  7,505,652  

 
 

  171,661  

 
 

  19,755,443  

 
 

  Brian G. Shaw  

 
 

  170,658,576  

 
 

  2,792,006  

 
 

  131,680  

 
 

  19,755,443  

 
 
 

  
Advisory Vote to Approve Compensation of Named Executive Officers
 

 

The results of the non-binding advisory vote for the compensation of the Company's named executive officers were as follows:

 
 
        
 

    Shares For    

 
 

    Shares Against    

 
 

    Abstain    

 
 

    Broker     Non-     vote    

 
 

  167,308,173  

 
 

  5,820,963  

 
 

  453,126  

 
 

  19,755,443  

 
 
 

  
Advisory Vote on Frequency of Future Advisory Votes to Approve Compensation of Named Executive Officers
 

 

The results of the non-binding advisory vote on the frequency of future advisory votes to approve the compensation of named executive officers, were as follows:

 
 
          
 

    One-Year    

 
 

    Two-Years    

 
 

    Three-Years    

 
 

    Abstain    

 
 

    Broker Non-vote    

 
 

  170,568,567  

 
 

  127,026  

 
 

  2,498,008  

 
 

  388,661  

 
 

  19,755,443  

 
 
 

  
Ratification of PricewaterhouseCoopers LLP as Independent Auditors
 

 

The results for the ratification of PricewaterhouseCoopers LLP, Chartered Accountants, as the Company's independent auditors were as follows:

 
 
        
 

    Shares For    

 
 

    Shares Against    

 
 

    Abstain    

 
 

    Broker Non-vote    

 
 

  186,757,581  

 
 

  6,435,087  

 
 

  145,037  

 
 

  0  

 
 
 

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

 
 
 

 Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/ovintiv-announces-results-of-annual-meeting-301818635.html  

 

SOURCE Ovintiv Inc.

 

 

 

 Cision View original content to download multimedia: https://www.newswire.ca/en/releases/archive/May2023/08/c3605.html  

 
 

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