OVV

EX-99.1

2 ovv-ex99_1.htm

EX-99.1

EX-99.1

Exhibit 99.1

News release

Ovintiv Reports Third Quarter 2026 Financial and Operating Results

Track Record of Strong Profitability Continues, Significant Additions Made to Premium Return Drilling Inventory

Highlights:

• Generated third quarter net earnings of $549 million, cash from operating activities of $1.1 billion, Non-GAAP Cash Flow of $1.2 billion and Non-GAAP Free Cash Flow of $680 million after capital expenditures of $563 million

• Produced average third quarter volumes of 631 thousand barrels of oil equivalent per day (“MBOE/d”), including oil and condensate volumes of 204 thousand barrels per day (“Mbbls/d”), along with 83 Mbbls/d of other NGLs (C2 to C4) and 2,062 million cubic feet per day (“MMcf/d”) of natural gas

• Announced agreement to acquire Logan Energy Corp. for C$1.40 per share in cash for total transaction value of approximately $890 million (C$1.26 billion) including the assumption of Net Debt

• Completed ground game acreage acquisitions in the third quarter totaling $457 million, adding approximately 120 net well locations in Montney, and approximately 120 net well locations in Permian for an average cost of $1.3 million to $1.7 million per 10,000 foot equivalent drilling location

• Net Debt of $3.4 billion as of September 30, 2026, Net Debt to Adjusted EBITDA of 0.7x

• Returned approximately 69% ($467 million) of third quarter Non-GAAP Free Cash Flow to shareholders via share repurchases of approximately $386 million (6.3 million shares) and dividend payments of $81 million

• Full year 2026 shareholder returns expected to exceed 60% of Non-GAAP Free Cash Flow

• Maintained full year 2026 guidance, generating approximately 6% oil and condensate production per share growth over the last six months and on pace for 8% to 9% per share growth by year end

DENVER, November 3, 2026 – Ovintiv Inc. (NYSE, TSX: OVV) (“Ovintiv” or the “Company”) today announced its third quarter 2026 financial and operating results. The Company plans to hold a conference call and webcast at 8:00 a.m. MST (10:00 a.m. EST) on November 4, 2026. Please see dial-in details within this release, as well as additional details on the Company's website at www.ovintiv.com under Presentations and Events – Ovintiv.

“Our third quarter results demonstrate the ongoing commitment of our team to create value across the business, and we are on track to achieve record annual free cash flow,” said Ovintiv President and CEO, Brendan McCracken. “We have continued to enhance our drilling inventory and future growth optionality in both the Permian and the Montney at an industry leading low-cost per undeveloped location in the core of the best basins. Bolstering our positions in these two basins where we have an operating advantage and demonstrated top performance means we are set to continue delivering superior and durable returns."

Third Quarter 2026 Financial and Operating Results

• Reported third quarter net earnings of $549 million, or $1.99 per share diluted

• Recognized net gains on risk management in revenues of $27 million, before tax

• Generated cash from operating activities of $1.1 billion and Non-GAAP Cash Flow of approximately $1.2 billion

• Third quarter average total production volumes were approximately 631 MBOE/d, including 204 Mbbls/d of oil and condensate, 83 Mbbls/d of other NGLs (C2 to C4) and 2,062 MMcf/d of natural gas

Ovintiv Inc.

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• Third quarter capital investment of $563 million was below the midpoint of the guidance range of $550 million to $600 million

• Reported third quarter upstream operating expense of $3.43 per barrel of oil equivalent (“BOE”), upstream transportation and processing costs of $8.12 per BOE, production, mineral and other taxes of $1.03 per BOE, or 2.7% of upstream product revenue

• Excluding the impact of hedges, third quarter average realized price for oil and condensate was $84.89 per barrel (99% of WTI), $20.26 per barrel for other NGLs, and $2.45 per Mcf (83% of NYMEX) for natural gas, resulting in a total average realized price of $38.10 per BOE

• Including the impact of hedges, third quarter average realized price for oil and condensate was $80.69 per barrel (94% of WTI), $20.26 per barrel for other NGLs, and $2.70 per Mcf (92% of NYMEX) for natural gas, resulting in a total average realized price of $37.56 per BOE

2026 Guidance

The Company issued its fourth quarter 2026 guidance and maintained its full year guidance other than a modest increase to expected NGL volumes. The guidance assumes that an ongoing third-party midstream outage in the Montney persists for the full duration of the fourth quarter.

2026 Guidance

4Q 2026

Full Year 2026

Total Production (MBOE/d)

615 – 640

630 – 645

Oil & Condensate (Mbbls/d)

203 – 207

210 – 212

NGLs (C2 to C4) (Mbbls/d)

78 – 82

85 – 87

Natural Gas (MMcf/d)

2,000 – 2,100

2,025 – 2,075

Capital Investment ($ Millions)

$550 – $600

$2,250 – $2,350

Shareholder Retu

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EX-99.1

2 ovv-ex99_1.htm

EX-99.1

EX-99.1

Exhibit 99.1

news release

Ovintiv Reports First Quarter 2026 Financial and Operating Results

Efficiency, Best-in-Class Inventory, and Clean Balance Sheet Delivering Superior Returns

Highlights:

• Generated first quarter cash from operating activities of $1.1 billion, Non-GAAP Cash Flow of $1.2 billion and Non-GAAP Free Cash Flow of $634 million after capital expenditures of $605 million

• Produced average first quarter volumes of 679 thousand barrels of oil equivalent per day (“MBOE/d”), at the high end of company guidance across all products including 225 thousand barrels per day (“Mbbls/d”) of oil and condensate, 100 Mbbls/d of other NGLs (C2 to C4) and 2,124 million cubic feet per day (“MMcf/d”) of natural gas

• Closed the acquisition of NuVista Energy Ltd., adding approximately 100 MBOE/d of production, 930 net 10,000-foot equivalent well locations, and approximately 140,000 net acres of land for approximately $2.8 billion

• Closed the sale of the Company’s Anadarko assets in April for total cash proceeds of approximately $2.85 billion after preliminary closing adjustments

• Redeemed the Company’s $700 million, 5.65% senior notes due May 15, 2028, on April 20, 2026, using proceeds from the Anadarko divestiture; annualized interest savings to total approximately $40 million

• Net Debt of less than $3.3 billion as of April 30, 2026; approximately 40% lower than one year prior

• Resumed share buybacks in March with the repurchase of approximately 1.5 million shares for total consideration of approximately $84 million; year-to-date share buybacks as of April 30, 2026, totaled 3.2 million shares for total consideration of $180 million

• Released the 2025 Sustainability Report on the Company’s website

DENVER, May 11, 2026 – Ovintiv Inc. (NYSE, TSX: OVV) (“Ovintiv” or the “Company”) today announced its first quarter 2026 financial and operating results. The Company plans to hold a conference call and webcast at 8:00 a.m. MT (10:00 a.m. ET) on May 12, 2026. Please see dial-in details within this release, as well as additional details on the Company's website at www.ovintiv.com under Presentations and Events – Ovintiv.

“We’ve built a track record of leading execution efficiency and disciplined capital allocation and now we’ve combined those strengths with best-in-class inventory depth in the two best E&P assets, and a clean balance sheet,” said Ovintiv President and CEO, Brendan McCracken. “With the enhanced stability of our business today, we are intensely focused on efficient execution and profitability. Our strong first quarter continues to demonstrate differentiated results that reflect the moat we have created through disciplined portfolio management and stacked innovation.”

Ovintiv Inc.

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First Quarter 2026 Financial and Operating Results

• Reported first quarter net loss of $630 million, or $2.35 per share diluted, including non-cash ceiling test impairments of $1.2 billion, after tax, or $4.30 per share diluted; impairment primarily driven by a weaker SEC 12-month trailing oil price relative to the previous quarter

• Recognized a net loss on risk management in revenues of $63 million, before tax

• Generated cash from operating activities of $1.1 billion and Non-GAAP Cash Flow of $1.2 billion

• First quarter average total production volumes were approximately 679 MBOE/d, including 225 Mbbls/d of oil and condensate, 100 Mbbls/d of other NGLs (C2 to C4) and 2,124 MMcf/d of natural gas; all products were at the high end of guidance

• First quarter capital investment of $605 million was at the low end of the guidance range of $600 million to $650 million

• First quarter upstream operating expense of $3.71 per BOE, upstream transportation and processing costs of $7.53 per BOE, production, mineral and other taxes of $1.30 per BOE, or 3.6% of upstream product revenue; costs were at the low end of guidance on a combined basis.

• Including the impact of hedges, first quarter average realized price for oil and condensate was $70.14 per barrel (98% of WTI), $18.12 per barrel for other NGLs, and $3.24 per Mcf (64% of NYMEX) for natural gas, resulting in a total average realized price of $36.08 per BOE

2026 Guidance

The Company issued its second quarter 2026 guidance and reiterated its full year guidance. Full year production volumes are expected to average 620 to 645 MBOE/d, with full year expected capital investment of $2.25 billion to $2.35 billion.

2026 Guidance

2Q 2026

Full Year 2026

Total Production (MBOE/d)

610 – 635

620 – 645

Oil & Condensate (Mbbls/d)

200 – 205

205 – 212

NGLs (C2 to C4) (Mbbls/d)

75 – 80

80 – 85

Natural Gas (MMcf/d)

2,000 – 2,100

2,000 – 2,100

Capital Investment ($ Millions)

$550 – $600

$2,250 – $2,350

Shareholder Returns

First quarter shareholder returns totaled approximately $169 million, consisting of share buybacks of approximately $84 million, or approximately 1.5 million shares of common stock, and