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:

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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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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 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

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FINANCIAL RESULTS Three Months Ended

Nine Months Ended

 September 30

September 30
($000s, except per share amounts)  2024

2023

% Change

2024

2023

% Change

 
















Oil and natural gas sales 2,362

679

248

9,192

2,459

274

  

 

 

 

 

 
Cash flow used in operating activities (3,730)
(2,553)
46

(954)
(3,830)
(75)
Per share - basic and diluted (1) (0.01)
(0.01)
-

(-)

(0.01)
(100)

  

 

 

 

 

 
Adjusted funds flow (used) (1) (207)
(773)
(73)
1,133

(2,083)
(154)
Per share - basic and diluted (-)

(-)

-

-

(-)

-

  

 

 

 

 

 
Net loss (2,464)
(1,869)
32

(5,994)
(5,823)
3
Per share - basic and diluted (-)

(-)

-

(0.01)
(0.01)
-

  

 

 

 

 

 
Capital expenditures (1) 15,760

31,176

(49)
19,545

39,957

(51)

  

 

 

 

 

 
Adjusted working capital (1)  

 

 

47,264

23,516

101

  

 

 

 

 

 
Common shares outstanding (000s)  

 

 

 

 

 
Weighted average - basic and diluted 530,212

426,476

24

529,605

425,685

24

  

 

 

 

 

 
End of period - basic  

 

 

530,267

426,670

24
End of period - fully diluted  

 

 

617,214

469,781

31
   

 

 

 

 

 
(1) See "Non-GAAP and Other Financial Measures" section.

 

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