OVV on NYSE

Ovintiv

Logo: Ovintiv Inc., Public domain, via Wikimedia Commons6

U.S. energy company

Ovintiv Inc., based in Denver, is an American company engaged in hydrocarbon exploration. The company was previously known as Encana, which, in 2020, restructured from a company domiciled in Canada to a company domiciled in the United States. The company's operations are mainly in the Permian Basin in the United States and in the Montney Formation, where it has a partnership with Mitsubishi, in Canada.3 Its revenue was $12.5 billion in 2022.1 Its shares trade on NYSE under the symbol OVV.1 Wikipedia text CC BY-SA 4.0

$65.75 down 1.00 (1.50%)Price as of Oct 15, 2026 at 19:45 UTC

Last updated Oct 21, 2026.

Overview

2020Founded1

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  • TickerOVV on NYSE1
  • IndustryCrude Petroleum & Natural Gas1
  • HeadquartersDenver1
  • Incorporated inDE7
  • Business addressSuite 1700, 370 - 17 Street, Denver, Co7
  • Filer categoryLarge accelerated filer7
  • Legal formCorporation4
  • LEI2549003MEX7YMKLGI2394
  • StatusActive4
  • LEI statusIssued and current4
  • Registered addressC/O CORPORATION SERVICE COMPANY, 19808 Wilmington, United States4
  • Registered withDivision of Corporations, Department of State, 76726254

Ovintiv Inc., based in Denver, is an American company engaged in hydrocarbon exploration. The company was previously known as Encana, which, in 2020, restructured from a company domiciled in Canada to a company domiciled in the United States. The company's operations are mainly in the Permian Basin in the United States and in the Montney Formation, where it has a partnership with Mitsubishi, in Canada.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

13.1%Operating margin10
14.3%Net margin10
-3.1%Revenue growth, 202510
11.1%Return on equity10
0.39×Debt to equity10
$1.5BFree cash flow10

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Business segments

Usa Operations brought in 34% of the revenue Ovintiv broke down this way in fiscal 2025.

  1. Usa Operations$5.9B1034%down 17% from 2024
  2. Usa Operations Excluding Intercompany Segment Transactions$5.9B1034%down 17% from 2024
  3. Canadian Operations$2.9B1017%up 42% from 2024
  4. Canadian Operations Excluding Intercompany Segment Transactions$2.8B1016%up 48% from 2024
Business segments by year
Business segments202320242025
Usa Operations$8.2B$7.2B$5.9B
Usa Operations Excluding Intercompany Segment Transactions$8.2B$7.1B$5.9B
Canadian Operations$2.4B$2.0B$2.9B
Canadian Operations Excluding Intercompany Segment Transactions$2.5B$1.9B$2.8B

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Other costs76¢$6.6B
  • Interest4¢$376.0M
  • Income tax5¢$472.0M
  • Profit14¢$1.2B

Out of $8.7B in revenue.10

Where each dollar of operating cash went, fiscal 2025

  • Capital spending59¢$2.1B
  • Dividends paid8¢$308.0M
  • Share buybacks8¢$307.0M
  • Kept or used elsewhere24¢$890.0M

Out of $3.7B of cash from operations.10

Financial statements

Revenue1112131410$8.7B in 2025+24% since 2019
0$5.0B$10.0B$15.0B2019: $7.0B$7.0B20192020: $5.5B$5.5B2020−21%2021: $10.5B$10.5B2021+90%2022: $14.3B$14.3B2022+36%2023: $10.7B$10.7B2023−25%2024: $8.9B$8.9B2024−16%2025: $8.7B$8.7B2025−3%
Operating income1112131410$1.1B in 2025+89% since 2019
-$7.5B-$5.0B-$2.5B0$2.5B$5.0B2019: $598.0M$598.0M20192020: -$5.4B-$5.4B20202021: $1.5B$1.5B20212022: $3.9B$3.9B2022+154%2023: $2.9B$2.9B2023−26%2024: $1.6B$1.6B2024−45%2025: $1.1B$1.1B2025−28%
Net income1112131410$1.2B in 2025+431% since 2019
-$7.5B-$5.0B-$2.5B0$2.5B$5.0B2019: $234.0M$234.0M20192020: -$6.1B-$6.1B20202021: $1.4B$1.4B20212022: $3.6B$3.6B2022+157%2023: $2.1B$2.1B2023−43%2024: $1.1B$1.1B2024−46%2025: $1.2B$1.2B2025+10%

Every line of the income statement as filed: the last 3 fiscal years, latest first.10

Period ending2025-12-312024-12-312023-12-31
Revenues$8.7B$8.9B$10.7B
Gains (losses) on risk management, net$172.0M$135.0M$151.0M
Sublease revenues$73.0M$74.0M$71.0M
Total Revenues$8.9B$9.2B$10.9B
Production, mineral and other taxes$286.0M$333.0M$342.0M
Transportation and processing$1.7B$1.6B$1.8B
Operating$862.0M$931.0M$859.0M
Purchased product$1.4B$1.5B$2.8B
Depreciation, depletion and amortization$2.2B$2.3B$1.8B
Impairments$920.0M$450.0M$0
Accretion of asset retirement obligation$28.0M$19.0M$19.0M
Administrative$331.0M$365.0M$393.0M
Total Operating Expenses$7.8B$7.6B$8.0B
Operating Income (Loss)$1.1B$1.6B$2.9B
Interest$376.0M$412.0M$355.0M
Foreign exchange (gain) loss, net$31.0M-$19.0M$19.0M
Other (gains) losses, net-$46.0M-$165.0M-$20.0M
Total Other (Income) Expenses$361.0M$228.0M$354.0M
Net Earnings (Loss) Before Income Tax$770.0M$1.4B$2.5B
Income tax expense (recovery)-$472.0M$226.0M$425.0M
Net Earnings (Loss)$1.2B$1.1B$2.1B
Basic$4.83$4.25$8.02
Diluted$4.78$4.21$7.90
Basic257.2M shares264.6M shares259.9M shares
Diluted259.7M shares267.4M shares263.9M shares

Compare Ovintiv with another company

Corporate structure

Ovintiv sits at the top of its group. 8 entities, 2 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Ovintiv

  • Ovintiv Denver, Colorado, United States
    • 2670446 Alberta ULC, incorporated in Subsidiary · Alberta, Canada
    • 2681134 Alberta Ltd., incorporated in Subsidiary · Alberta, Canada
    • Alenco Inc., incorporated in Subsidiary · Delaware, United States
    • OVINTIV CANADA ULC Subsidiary · Calgary, Alberta, Canada
    • Ovintiv Canada ULC, incorporated in Subsidiary · British Columbia, Canada
    • Ovintiv Holdings Finance Partnership, registered in Subsidiary · Delaware, United States
    • Ovintiv USA Inc., incorporated in Subsidiary · Delaware, United States

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Ovintiv reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$71.4B10 Dec 31, 2025$67.6B10 Dec 31, 2024+5.6%
Accumulated depreciation$57.2B10 Dec 31, 2025$53.3B10 Dec 31, 2024+7.3%
Property and equipment, net$14.2B10 Dec 31, 2025$14.4B10 Dec 31, 2024−0.8%
Finance-lease assets$010 Dec 31, 2025$12.0M10 Dec 31, 2024−100.0%
Operating-lease assets (leased space)$1.2B10 Dec 31, 2025$788.0M10 Dec 31, 2024+50.6%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$35.0M10 Dec 31, 2025$42.0M10 Dec 31, 2024−16.7%
Marketable securities, current$245.0M10 Dec 31, 2025
Long-term investments$20.0M10 Dec 31, 2025$33.0M10 Dec 31, 2024−39.4%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$2.6B10 Dec 31, 2025$2.5B10 Dec 31, 2024+1.2%

The story

As Encana (2002-2019)

In April 2002, Encana was formed by the merger of PanCanadian Petroleum with Alberta Energy Company. In July 2003, the company agreed to pay $20 million to resolve allegations by the United States Commodity Futures Trading Commission that a subsidiary of the company reported false natural gas trading information, including price and volume information, to certain reporting firms in an attempt to skew indexes for its financial benefit.

In spring 2008, after complaints from residents in Pavillion, Wyoming, the United States Environmental Protection Agency found hydrocarbon contaminants in residents' drinking water wells near gas production wells owned by the company.

Between October 2008 and January 2009, in Pouce Coupe, British Columbia, in the 2008–09 British Columbia pipeline bombings, five Encana pipelines were bombed, likely by a disgruntled community member with a grudge against the company. Encana was fined CAD $250,000 under Canada's Environmental Emergency Act after a pipeline rupture near Pouce Coupe released a cloud of gas that contained hydrogen sulfide.

From 2008 through 2010, the company accumulated 250,000 net acres in the Collingwood-Utica Shale gas play in the Middle Ordovician Collingwood formation of the Michigan Basin at an average cost of $150/acre. In May 2012, the company paid about $185 an acre for oil and gas rights on 2,156 acres (873 hectares) at an auction by the Michigan Department of Natural Resources, which was "88 percent less than the average paid two years ago in the area".

In November 2009, the company completed the corporate spin-off of its oil business, Cenovus Energy. E-mails between the company and Chesapeake Energy showed plans to divide up Michigan counties state land leases to suppress land prices in an October 2010 auction. In 2013, a private landowner filed suit against the company and Chesapeake for bid rigging. While the case was dropped by the United States Department of Justice, the company was fined $5 million by the Michigan Attorney General, while Chesapeake paid $25 million into a victim-compensation fund.

In December 2012, the company announced a US$2.1 billion joint venture with state-owned, Beijing-based PetroChina through which PetroChina received a 49.9% stake in Encana's Duvernay Formation acreage in Alberta. In 2013, the company moved its headquarters to The Bow in Calgary, a newly completed building which was the tallest building in Canada outside of Toronto.

In September 2017, Hunter Ridge, a subsidiary of the company, was fined $225,000 for a pipeline leak that contaminated water and soil on a big game hunting ranch near Parachute, Colorado. In May 2018, the company permanently ceased production at Deep Panuke. The Deep Panuke project produced and processed natural gas 250 kilometers offshore southeast of Halifax, Nova Scotia. The platform was sent for recycling in 2020.

As Ovintiv (2020-present)

On January 24, 2020, after receiving shareholder approval, the company completed the transfer of its corporate domicile from Canada to the United States. Ovintiv Canada ULC retains an office in Calgary. The shift came after the company's acquisition of Newfield Exploration, after which most of its production was in the United States.

Read the full text

In June 2020, the company announced layoffs of 25% of its workforce. In February 2022, Ovintiv absorbed former subsidiary EWL Management Limited making it the owner of five decommissioned mines in Ontario: Coldstream Copper Mine, Gordon Lake Mine, Greyhawk Mine (uranium), Dyno Mine (uranium), and Madawaska Mine (uranium) which is being rehabilitated to meet current compliant standards.

In September 2024, Ovintiv paid the United States and the state of Utah a civil penalty of $5.5 million and agreed to implement extensive compliance measures to achieve major reductions in pollutants emitted from 139 of its facilities in Utah to resolve allegations that it failed to comply with federal and state requirements to capture and control air emissions at 22 of its oil and gas production facilities in the Uintah Basin.

From Wikipedia’s article on Ovintiv, shared under CC BY-SA 4.0.8

Leadership

Who has led Ovintiv, and when. Pick a name to see everywhere that person has worked.

Board members and other officers (26)

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • 2670446 Alberta ULC, incorporated in Alberta9
  • 2681134 Alberta Ltd., incorporated in Alberta9
  • Alenco Inc., incorporated in Delaware9
  • Ovintiv Canada ULC, incorporated in British Columbia9
  • Ovintiv Holdings Finance Partnership, registered in Delaware9
  • Ovintiv USA Inc., incorporated in Delaware9

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Former names

  • 1847432 Alberta ULCNov 6, 2019 to Dec 18, 20197

Timeline

  1. Oct 1, 20268-K Regulation FD disclosure49
  2. Aug 27, 20268-K Regulation FD disclosure50
  3. Jul 23, 20268-K Results of operations; Other events51
  4. May 11, 20268-K Results of operations; Other events52
  5. May 8, 20268-K Shareholder vote53
  6. Apr 9, 20268-K Financial statements and exhibits54
  7. Apr 9, 20268-K Ended a material agreement; Completed an acquisition or sale; Regulation FD disclosure55
  8. Feb 23, 20268-K Entered a material agreement56
  9. Feb 23, 20268-K Results of operations; Other events57
  10. Feb 20, 20268-K Executive or director change58
  11. Feb 17, 20268-K Regulation FD disclosure59
  12. Feb 3, 20268-K Completed an acquisition or sale; Unregistered sale of shares; Regulation FD disclosure60
  13. Aug 5, 2021New chief executive Brendan Michael McCracken becomes CEO18
  14. Feb 24, 2020New chief executive Douglas James Suttles becomes CEO19
  15. 2020Founded Founded1

Calendar

Coming up

  1. Nov 3, 2026 · After the closeReports results for the quarter ending Sep/2026 A year earlier it reported $1.03 a share, on Nov 4, 2025.61

When it reported results

  1. Jul 23, 2026Reported quarterly or annual results51
  2. May 11, 2026Reported quarterly or annual results52
  3. Feb 23, 2026Reported quarterly or annual results57
  4. Nov 4, 2025Reported quarterly or annual results62
  5. Jul 24, 2025Reported quarterly or annual results63
  6. May 6, 2025Reported quarterly or annual results64
  7. Feb 26, 2025Reported quarterly or annual results65
  8. Nov 7, 2024Reported quarterly or annual results66

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

678 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 84 major events, 502 insider forms, 31 large holders, 41 other. The latest 20:

  1. Oct 1, 20264 EDGAR
  2. Oct 1, 20264 EDGAR
  3. Oct 1, 20264 EDGAR
  4. Oct 1, 20264 EDGAR
  5. Oct 1, 20264 EDGAR
  6. Oct 1, 20264 EDGAR
  7. Oct 1, 20264 EDGAR
  8. Oct 1, 20264 EDGAR
  9. Oct 1, 20264 EDGAR
  10. Oct 1, 20264 EDGAR
  11. Oct 1, 20264 EDGAR
  12. Oct 1, 20268-K EDGAR
  13. Sep 22, 2026SD EDGAR
  14. Aug 27, 20268-K EDGAR
  15. Aug 14, 20264 EDGAR
  16. Aug 13, 2026144 EDGAR
  17. Aug 13, 20264 EDGAR
  18. Aug 12, 2026SCHEDULE 13G EDGAR
  19. Aug 11, 20264 EDGAR
  20. Aug 6, 2026SCHEDULE 13G/A EDGAR

The 678 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

44 open-market trades by officers, directors and large owners since October 2021: 17 buys and 27 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Aug 12, 2026Moore Rachel MaureenEVP, Corporate ServicesSale7,753$63.32$490.9KForm 4
Mar 13, 2026Eilers Meghan NicoleEVP, Commercial & Legal Affs.Sale11,582$54.78$634.5KForm 4
Mar 3, 2026Mayson Howard JohnDirectorSale5,000$52.39$261.9KForm 4
Dec 12, 2025Givens Gregory DeanEVP & COOSale50,000$40.33$2.0MForm 4
Dec 8, 2025NANCE STEVEN WDirectorSale5,000$41.99$209.9KForm 4
Dec 4, 2025Givens Gregory DeanEVP & COOSale50,000$42.50$2.1MForm 4
Jun 4, 2025NANCE STEVEN WDirectorSale5,501$38.18$210.0KForm 4
Jul 11, 2024Chhina SippyDirectorBuy19Form 4
May 31, 2024Mayson Howard JohnDirectorSale4,000$51.14$204.6KForm 4
May 14, 2024Chhina SippyDirectorBuy1,600$49.50$79.2KForm 4
May 13, 2024NANCE STEVEN WDirectorSale12,000$50.00$600.0KForm 4
Apr 1, 2024Shaw Brian GordonDirectorBuy21Form 4
Mar 14, 2024Zemljak Renee EllenSale76,264$50.96$3.9MForm 4
Mar 1, 2024Moore Rachel MaureenEVP, Corporate ServicesSale9,300$50.65$471.0KForm 4
Mar 1, 2024Mayson Howard JohnDirectorSale6,000$50.56$303.4KForm 4
Dec 6, 2023Eilers Meghan NicoleEVP, Commercial & Legal Affs.Sale7,000$41.37$289.6KForm 4
Nov 29, 2023NANCE STEVEN WDirectorSale13,000$43.78$569.1KForm 4
Aug 3, 2023NANCE STEVEN WDirectorSale1,201$48.65$58.4KForm 4
Mar 3, 2023Zemljak Renee EllenSale70,424$46.40$3.3MForm 4
Mar 2, 2023Mayson Howard JohnDirectorSale3,000$45.62$136.9KForm 4

All 44 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Brendan McCrackenPresident & Chief Executive Officer$1.2M$13.7M75
2025Greg GivensExecutive Vice-President & Chief Operating Officer$712.5K$5.4M75
2025Corey CodeExecutive Vice-President & Chief Financial Officer$588.9K$4.7M75
2025Meghan EilersExecutive Vice- President, Midstream & Marketing and General Counsel$518.8K$3.2M75
2025Rachel MooreExecutive Vice-President, Corporate Services$459.1K$2.7M75
2024Brendan McCrackenPresident & Chief Executive Officer$1.1M$13.0M75
2024Greg GivensExecutive Vice-President & Chief Operating Officer$683.8K$5.3M75
2024Corey CodeExecutive Vice-President & Chief Financial Officer$561.2K$4.4M75
2024Meghan EilersExecutive Vice- President, Midstream & Marketing and General Counsel$495.0K$3.1M75
2024Rachel MooreExecutive Vice-President, Corporate Services$440.3K$2.4M75
2023Brendan McCrackenPresident & Chief Executive Officer$1.1M$11.8M75
2023Greg GivensExecutive Vice-President & Chief Operating Officer$656.2K$5.0M75
2023Corey CodeExecutive Vice-President & Chief Financial Officer$529.8K$3.8M75
2023Meghan EilersExecutive Vice- President, Midstream & Marketing and General Counsel$472.5K$2.7M75
2023Rachel MooreExecutive Vice-President, Corporate Services$418.9K$2.2M75

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.27,026,767$1.4B0.0%+285,095
Fmr LLC25,750,709$1.4B0.1%+1,978,022
Capital Research Global Investors19,445,689$1.0B0.1%+14,084,474
Vanguard Portfolio Management LLC14,459,194$761.3M0.0%−649,436
Vanguard Capital Management LLC12,630,606$665.0M0.0%−3,922
Dimensional Fund Advisors LP10,406,046$547.9M0.1%−139,654
State Street Corp10,034,609$528.3M0.0%+55,246
Hotchkis & Wiley Capital Management LLC8,695,301$457.8M1.3%+194,208
Invesco Ltd.6,961,851$366.5M0.0%+30,433
Geode Capital Management, LLC5,417,154$285.3M0.0%+51,787
Arrowstreet Capital, Limited Partnership5,069,548$266.8M0.1%−2,811,157
Millennium Management LLC4,573,349$240.8M0.2%−1,282,719
Adage Capital Partners Gp, L.l.c.4,372,109$230.2M0.3%−535,000
Merewether Investment Management, LP4,361,717$229.6M4.3%+78,403
Mackenzie Financial Corp3,177,665$154.7M0.2%−198,765
Massachusetts Financial Services Co /ma/2,897,745$152.6M0.0%+1,853,091
Charles Schwab Investment Management Inc2,622,266$138.1M0.0%−34,821
Northern Trust Corp2,525,328$133.0M0.0%+127,211
Bank of New York Mellon Corp2,361,034$124.3M0.0%−584,658
Morgan Stanley2,321,377$122.2M0.0%+740,230
Aqr Capital Management LLC2,097,841$110.5M0.0%−421,590
Allianz Asset Management GmbH1,718,323$102.0M0.1%No change
Evergreen Capital Management LLC1,807,357$95.2M1.7%+1,075,029
American Century Companies Inc1,752,600$92.3M0.0%−32,491
Vanguard Fiduciary Trust Co1,748,791$92.1M0.0%+21,225

13F reports cover disclosed long positions in U.S. stocks only.

Members of Congress who traded it

1 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.

DateMemberTradeAmountVs S&P sinceFiling
Jun 24, 2025Lisa C. McClainRepublican, HouseBuy$1,001 - $15,000+43.8%Report

Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).

SEC filer profile

How Ovintiv is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGAROvintiv Inc.2
  • CIK0001792580
  • Employer ID (EIN)84-442767276
  • Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company76
  • Incorporated inDelaware76
  • Fiscal year endsDecember 312
  • Industry code (SIC)1311 Crude Petroleum & Natural Gas2
  • SEC reviewing officeOffice of Energy & Transportation, Division of Corporation Finance2
  • Business addressSuite 1700, 370 - 17 Street, Denver, CO2
  • Phone(303) 623-23002
  • Shares outstanding275,503,580 as of Jul 17, 202616
  • Public float$9.8B as of Jun 30, 202576
  • AuditorPricewaterhouseCoopers LLP, Calgary, Alberta, Canada PCAOB ID 271; it also attests to the company’s internal control over financial reporting76
  • On EDGAR sinceNov 6, 20192
  • Filings898 in all: 4 (605), 8-K (117), SC 13G/A (22), 10-Q (20), DEFA14A (11), 3 (9), 144 (8), 5 (8)2
    All 36 form types

    8-K/A (8), 10-K (7), DEF 14A (7), SCHEDULE 13G/A (7), 11-K (6), S-8 POS (6), SC 13G (6), 4/A (5), 425 (5), 424B7 (4), ARS (4), DFAN14A (4), S-3ASR (4), CORRESP (3), SCHEDULE 13G (3), SD (3), UPLOAD (3), 424B5 (2), S-8 (2), 424B3 (1), 8-K12B (1), EFFECT (1), FWP (1), POSASR (1), S-4 (1), S-4 POS (1), S-4/A (1), SD/A (1)

  • Latest filingsAnnual report (10-K) Feb 23, 2026
    Quarterly report (10-Q) Jul 23, 2026
    Proxy statement (DEF 14A) Mar 25, 2026
    Latest 8-K (8-K) Oct 1, 2026

Securities registered for trading

ClassSymbolExchange
Common SharesOVVNew York Stock Exchange

From the cover page of the 10-K filed Feb 23, 2026 (Section 12(b) of the Exchange Act).76

Risk factors and legal proceedings

The risks Ovintiv names in Item 1A of its 10-K filed Feb 23, 2026: 31 risks under these headings, as written.76

  • Market Risks
  • Operational Risks
  • Environmental Risks and Risks Associated with Climate Change
  • Financial and Liquidity Risk
  • Regulation and Litigation Risk
  • General Risks
  • A substantial or extended decline in oil, NGLs or natural gas prices, or a substantial increase in oil, NGLs and natural gas price differentials, could have a material adverse effect on our business, financial condition, results of operations, and the trading prices of our securities.
  • The trading price of our securities, including our common stock, is subject to volatility.
  • Fluctuations in exchange rates could affect expenses or result in realized and unrealized losses.
  • Our ability to operate and complete projects is dependent on numerous factors outside of our control.
  • Our operations involve many risks, some of which could result in unforeseen interruptions and expose us to substantial losses and liabilities, for which our insurance may not fully protect us.
  • Oil and natural gas exploration, development and production activities involve substantial costs and risks and may not result in commercially productive reserves.
The other 24 risks
  • The proved reserves data provided in this Annual Report on Form 10-K is an estimate only and any inaccuracies in the methodology or assumptions underlying our proved reserves estimates could cause the quantity and net present value of our oil, NGLs, and natural gas reserves to be materially overstated or understated.
  • If we fail to find, develop or acquire additional oil, NGLs and natural gas reserves, our reserves and production will decline materially from their current levels.
  • Horizontal multi-well pad drilling involves certain risks which may cause volatility in our operating results.
  • We are subject to risks and liabilities from acquisitions and any anticipated or desired benefits from such acquisitions may not be realized.
  • We are dependent on partners to fund certain projects conducted through joint ventures and partnerships.
  • We do not operate all of our assets, and, in such instances, we may have a limited ability to exercise influence over the operation and development of such assets.
  • Our customers, counterparties and lenders may be unable to satisfy their contractual or legal obligations.
  • We retain certain indemnification obligations related to our corporate reorganization in November of 2009.
  • We may be unable to dispose of certain assets and may be required to retain liabilities for certain matters.
  • Our operations may be affected by indigenous treaty, title and other rights.
  • We are subject to risks and uncertainties associated with evolving environmental regulations in all jurisdictions in which we operate.
  • We are subject to risks and uncertainties arising from changing weather conditions as well as government, investor and consumer action in response to concerns over climate change and the transition to a lower-carbon economy that could reduce demand for the oil, NGLs and natural gas we produce; increase our operating costs; and limit the areas in which we may explore for, develop, and produce oil, NGLs and natural gas.
  • Estimates used in various scenario planning analyses could differ materially from actual results as the policy and regulatory environment evolves.
  • Increased scrutiny of sustainability matters could have an adverse effect on our operations.
  • Downgrades in our credit ratings could increase our cost of capital and limit our access to capital, suppliers or counterparties.
  • Our level of indebtedness may limit our financial flexibility.
  • Our risk management activities may prevent us from fully benefiting from an increase in oil, NGLs and natural gas prices and expose us to certain other risks.
  • The decision to return capital to shareholders, whether through cash dividends, share buybacks or otherwise, and the amount and timing of such capital returns is subject to the discretion of the Board of Directors and will vary from time to time.
  • We are subject to extensive federal, state, provincial and local government laws, rules and regulations that can adversely affect the cost, manner and feasibility of our business, and increased regulation in the future could increase costs, impose additional operating restrictions and cause delays.
  • We currently are, and from time to time in the future may be, subject to claims, litigation, administrative proceedings and regulatory actions that may not be resolved in our favor.
  • The ability of Canadian and other non-resident shareholders to effect service of process or enforce remedies against Ovintiv, its directors, officers, experts, and assets may be limited.
  • U.S. and Canadian tax laws and regulations may change over time, and such changes may result in increased taxes on our business.
  • The oil and natural gas industry is highly competitive and many of our competitors have available resources in excess of our own.
  • We could be adversely affected by security threats, including cybersecurity threats and related disruptions.

Legal proceedings

Ovintiv is involved in various legal claims and actions arising in the normal course of the Company’s operations. Although the outcome of these claims cannot be predicted with certainty, the Company does not expect these matters to have a material adverse effect on Ovintiv’s financial position, cash flows or results of operations. If an unfavorable outcome were to occur, there exists the possibility of a material impact on the Company’s consolidated net earnings or loss for the period in which the effect becomes reasonably estimable. See Item 1A. Risk Factors of this Annual Report on Form 10-K, “We currently are, and from time to time in the future may be, subject to claims, litigation, administrative proceedings and regulatory actions that may not be resolved in our favor”.

For additional information, see Note 27 to Ovintiv’s audited Consolidated Financial Statements in Item 8 of this Annual Report on Form 10-K.

The opening of Item 3, Legal Proceedings.76

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