403.645.2000 888.568.6322 (toll-free CAN) 403.645.3400 (fax) [email protected] The company’s second-quarter production averaged 536.6 thousand barrels of oil equivalent per day with 198.3 mboe.d from crude oil and plant condensate. Today, we are focused on drilling in the condensate-rich regions of the play and have increased the liquids share of Montney production to ~25% in 2019, from 4% in 2013.The Permian Basin is one of the largest known oil deposits in the U.S. with multiple benches of oil-saturated rock. The Anadarko Basin is located in west-central Oklahoma and is one of the top liquids-rich resource plays in North America. Our primary focus is on the development of the Spraberry and Wolfcamp formations in the Midland Basin, where Ovintiv holds a large position. Ovintiv is an independent oil and gas producer with key assets in the Permian, Eagle Ford, Montney, and Duvernay areas. Ovintiv has ~360,000 net acres held by production, primarily in the black oil window of SCOOP and STACK. So, we are going, we did drill some wells in the Bakken, the Eagle Ford and the Uinta.

As an oil-weighted top tier asset located in south Texas, Ovintiv is focused on high-margin Eagle Ford shale and Austin Chalk development. The play spans ~50,000 square miles and is up to 1,000 feet thick through the core with multiple target horizons—making this play ideal for Ovintiv’s proven cube development approach.We have a significant land position through the core of the Montney where our technical teams have conducted extensive delineation of the high-margin liquids fairway. Business Description Ovintiv is an independent oil and gas producer with key assets in the Permian, Eagle Ford, Montney, and Duvernay areas.

370 - 17th Street, Suite 1700 The company generated adjusted cash flow from operations of $304 million, which fell substantially from $566 million in the first quarter due to lower commodity prices. Dow Jones Industrial Average, S&P 500, Nasdaq, and Morningstar Index (Market Barometer) quotes are real-time. Ovintiv is currently running two rigs in the play. Ovintiv Inc. is a leading North American exploration and production (E&P) company focused on developing its high-quality, multi-basin portfolio. Multiple stacked geologic horizons make this play primed for long laterals and Ovintiv’s proven cube development application. Ovintiv has prime acreage in this tried and true basin.Ovintiv has a premier position in this condensate-rich asset located in west-central Alberta.As an oil-weighted top tier asset located in south Texas, Ovintiv is focused on high-margin Eagle Ford shale and Austin Chalk development.This basin is an oil play positioned in the Greater Monument Butte Unit and the Central Basin in Utah. Ovintiv delivered higher than expected production during the quarter and continued to show significant reductions in costs. The basin has significant existing infrastructure and is located in good proximity to attractive markets like Cushing, Oklahoma, and the Gulf Coast.The Montney is located in western Canada and is one of the largest unconventional oil and gas deposits in North America. Net production averaged 569 thousand barrels of oil equivalent per day in 2019 at a ratio of 56% oil and natural gas liquids and 44% natural gas. © Copyright 2020 Morningstar, Inc. All rights reserved.

No-moat Ovintiv, formerly Encana, reported second-quarter results that exceeded our expectations. Cash costs declined sequentially to $11.23/bbl from $12.17/bbl in the first quarter.

Leading in cycle times and water management operational practices, we continue to deliver improved well results with superior capital efficiencies.Ovintiv holds positions in several high-quality plays focused on generating cash flows, including the Bakken, Duvernay, Eagle Ford and Uinta basins.Located in North Dakota, this multi-bench oil resource play delivers high-margin production.

Calgary, Alberta. In August 2015, the company sold its assets in the Haynesville Shale for $850 million to affiliates of GSO Capital Partners and GeoSouthern Energy. Denver, Colorado Worked on the Eagle Ford asset development team where I utilized multi-variate regression to analyze parent/child well interactions mainly focusing on tight infills. Ovintiv Inc. (De) Q2 2020 ... Permian, two in the Anadarko and the two in the Montney.

Ovintiv interest lies in this asset’s multiple stacked horizons and potential to deliver long-term returns.A decommissioning of the Deep Panuke is currently underway. Uinta Basin This basin is an oil play positioned in the Greater Monument Butte Unit and the Central Basin in Utah. In June 2014, the company acquired assets in the Eagle Ford Group from Freeport-McMoRan for $3.1 billion. The Company achieved a record completion rate on a recent four-well pad in Pipestoneof 3,450 feet per day, a 45% improvement compared to the 2019 average.

First half 2020 D&C well costs averaged $480per foot in Pipestone, representing a 14% improvement over 2019 average costs. At the end of 2019, the company reported net proven reserves of 1,348 million barrels of oil equivalent.

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