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Dec 31, 2024
Ovintiv Q4 2024 Earnings Report
Ovintiv reported fourth quarter and year-end financial and operating results.
Key Takeaways
Ovintiv reported strong fourth-quarter results, with Non-GAAP Free Cash Flow of $452 million and average quarterly production volumes of 580 MBOE/d. The company's financial performance was driven by a focus on value creation and execution excellence.
Generated fourth quarter cash from operating activities of $1.0 billion and Non-GAAP Free Cash Flow of $452 million after capital expenditures of $552 million.
Delivered average quarterly production volumes of 580 MBOE/d, including 210 Mbbls/d of oil and condensate, 90 Mbbls/d of other NGLs and 1,680 MMcf/d of natural gas.
Full year shareholder returns totaled approximately $913 million, consisting of share buybacks of approximately $597 million, or approximately 12.7 million shares of common stock, and base dividend payments of approximately $316 million.
Ovintiv had approximately $3.6 billion in total liquidity as of December 31, 2024, which included available credit facilities of $3.5 billion, available uncommitted demand lines of $91 million, and cash and cash equivalents of $42 million.
Forward Guidance
Ovintiv announced full year 2025 capital program of approximately $2.15 to $2.25 billion, which is expected to deliver total production volumes of 595 to 615 MBOE/d, including oil and condensate volumes of 202 to 208 Mbbls/d
Historical Earnings Impact
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Avg. Return Before/After Earnings
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