1. Ovintiv generated $1,013 million in operating cash in Q2 2025. 2. Production rose to 615 MBOE/d; capital investment was reduced to $2.125-$2.175 billion. 3. Net debt decreased by $217 million, reinforcing balance sheet strength. 4. Dividend of $0.30 per share declared, payable on September 29, 2025. 5. Forecast for Free Cash Flow increased to $1.65 billion, based on commodity prices.
The increase in production guidance and strong cash flow suggest robust financial health. Historically, similar performance boosts stock prices due to positive market sentiment.
The article highlights Ovintiv's strong performance metrics and shareholder returns, which directly relate to its stock value. Positive financial results typically enhance investor confidence in company stability.
Sustained production increases and solid cash flow can lead to long-term shareholder value growth, as evidenced by previous quarterly performances in favorable commodity price environments.
DENVER, July 24, 2025 /PRNewswire/ - Ovintiv Inc. (NYSE: OVV) (TSX: OVV) ("Ovintiv" or the "Company") today announced its second quarter 2025 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 July 25, 2025. 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 second quarter results are a reflection of the quality of the business we have built," said Ovintiv President and CEO, Brendan McCracken. "Strong well performance across our portfolio, the rapid integration of our new Montney assets and enhanced capital efficiency have enabled us to reduce our expected 2025 capital investment and operating costs while increasing our full year production guidance. As a result, assuming commodity prices of $60 WTI and $3.75 NYMEX for the second half of the year, we now expect to generate $1.65 billion of Free Cash Flow, up $150 million from our previous estimate."
The Company issued its third quarter 2025 guidance and increased its full year production guidance while reducing expected capital investment. Full year production volumes are now expected to average 600 to 620 MBOE/d, with full year expected capital investment of $2.125 billion to $2.175 billion.
Ovintiv remains committed to its capital allocation framework, which is expected to return at least 50% of post base dividend Non-GAAP Free Cash Flow to shareholders through buybacks and/or variable dividends.
In the second quarter, the Company purchased for cancellation, approximately 4.1 million shares of common stock for consideration of approximately $146 million and paid dividends of $0.30 per share of common stock totaling $77 million. Share buybacks in the third quarter are expected to total approximately $158 million.
Ovintiv had approximately $3.2 billion in total liquidity as of June 30, 2025, which included available credit facilities of $3,350 million, available uncommitted demand lines of $132 million, and cash and cash equivalents of $20 million, net of outstanding commercial paper of $331 million.
Ovintiv reported Debt to EBITDA of 1.6 times and Non-GAAP Debt to Adjusted EBITDA of 1.2 times. The Company remains committed to maintaining a strong balance sheet and is currently rated investment grade by four credit rating agencies. Ovintiv maintains a long-term leverage target of 1.0 times Non-GAAP Debt to Adjusted EBITDA at mid-cycle prices, with an associated long-term total debt target of $4.0 billion.
On July 24, 2025, Ovintiv's Board declared a quarterly dividend of $0.30 per share of common stock payable on September 29, 2025, to shareholders of record as of September 15, 2025.
For additional information on the Company's quarterly results, please refer to the Second Quarter 2025 Results Presentation available on Ovintiv's website, www.ovintiv.com under Presentations and Events – Ovintiv. Supplemental Information, and Non-GAAP Definitions and Reconciliations, are available on Ovintiv's website under Financial Documents Library.
A conference call and webcast to discuss the Company's second quarter results will be held at 8:00 a.m. MT (10:00 a.m. ET) on July 25, 2025.
To join the conference call without operator assistance, you may register and enter your phone number at this link to receive an instant automated call back. You can also dial direct to be entered to the call by an Operator. Please dial 888-510-2154 (toll-free in North America) or 437-900-0527 (international) approximately 15 minutes prior to the call.
The live audio webcast of the conference call, including slides and financial statements, will be available on Ovintiv's website, www.ovintiv.com under Investors/Presentations and Events. The webcast will be archived for approximately 90 days.
Refer to Note 1 Non-GAAP measures and the tables in this release for reconciliation to comparable GAAP financial measures.
Ovintiv reports in U.S. dollars unless otherwise noted. Production, sales and reserves estimates are reported on an after-royalties basis, unless otherwise noted. Unless otherwise specified or the context otherwise requires, references to "Ovintiv," "we," "its," "our" or to "the Company" includes reference to subsidiaries of and partnership interests held by Ovintiv Inc. and its subsidiaries.
Further information on Ovintiv Inc. is available on the Company's website, www.ovintiv.com.