Highlights

  • Ovintiv shares were trading at $72.27 on October 23, 2026, up 4.29%.
  • Second-quarter total revenues rose 30% to $3,013 million, from $2,318 million a year earlier.
  • Net earnings rose to $456 million, or $1.62 per diluted share, from $307 million, or $1.18 per share, a year earlier.
  • The company closed its approximately $2.8 billion NuVista Energy acquisition in February and its approximately $2.8 billion Anadarko asset divestiture in April 2026.

Ovintiv (NYSE: OVV) shares were trading at USD 72.27 on October 23, 2026, up 4.29%. The company reported second-quarter results showing higher revenue and earnings following a reshaping of its asset portfolio earlier in the year.

Ovintiv is headquartered in Denver, Colorado, and operates across the Permian Basin, the Anadarko Basin, the Uinta Basin, and the Montney formation in Alberta and British Columbia, following a series of portfolio transactions completed in 2026.

Higher Prices and Volumes Lift Revenue and Earnings

Total revenues for the quarter were $3,013 million, up from $2,318 million a year earlier, comprising product and service revenues of $2,297 million, sales of purchased product of $575 million, and gains on risk management of $122 million. Net earnings were $456 million, or $1.62 per diluted share, compared with $307 million, or $1.18 per share, a year earlier. The company said higher upstream product revenues reflected higher average realized oil and plant condensate prices, up 26% and 29%, respectively, along with higher plant condensate and natural gas production volumes following the NuVista acquisition, partially offset by lower oil production volumes following the sale of the Anadarko assets. Ovintiv noted it completed further workforce reductions in 2026 as part of a company-wide reorganization intended to align staffing levels with its transformed portfolio.

Portfolio Reshaped Through Acquisition and Divestiture

On February 3, 2026, Ovintiv closed its acquisition of NuVista Energy Ltd. in a cash-and-stock transaction valued at approximately $2.8 billion, adding approximately 930 net well locations and 140,000 net acres adjacent to its existing Montney operations in Alberta; the company issued approximately 30.1 million shares of common stock and paid cash consideration of approximately $1.2 billion as part of the deal. On April 9, 2026, the company closed the divestiture of its Anadarko assets in Oklahoma, comprising approximately 360,000 net acres, for proceeds of approximately $2.8 billion, and used the proceeds to repay its Term Credit Agreement in full and to redeem $700 million of 5.65% senior notes due 2028, which the company said is expected to generate annualized interest savings of approximately $40 million.