News & Events zu Ovintiv Inc (OVV)OVVOvintiv Inc

Stock Futures Rise as Investors Focus on Big Tech Earnings

Stock futures are higher as investors prepare for an important week of Big Tech earnings, the Federal Reserve's interest-rate decision and fresh inflation data. Markets are attempting to stabilize after the S&P 500 and Nasdaq Composite posted a second consecutive weekly decline, with investors weighing whether heavy artificial intelligence spending will translate into stronger earnings and cash flow. Oil prices are retreating from recent six-month highs, offering some relief, although geopolitical tensions in the Middle East remain a risk.The Federal Reserve is in focus this week, with its two-day policy meeting beginning Tuesday and an interest-rate decision due Wednesday. Markets widely expect rates to remain unchanged, but investors will scrutinize Fed Chair Kevin Warsh's comments for clues about the outlook for December, particularly following hotter September inflation readings.Earnings are another major catalyst, with roughly one-third of S&P 500 companies scheduled to report this week. Alphabet, Microsoft and Amazon will draw particular attention as investors look for evidence that massive AI infrastructure investments are generating sustainable returns.In pre-market trading, S&P 500 futures rose 0.28%, Nasdaq futures rose 0.58% and Dow futures rose 0.28%.Check out this morning's top movers from around Wall Street, compiled by The Fly.HIGHER -Surgery Partnersup 23% after Financial TimesBon Secours Mercy Health is in late-stage discussions to purchase a majority stake in the company, which would value the group at $20 a shareRange Resourcesup 11% after entering into a definitive merger agreement, under which EQT will acquire the company in an all-stock transactionAmgenup 1% after reporting results showing that Imdelltra in combination with AstraZeneca's Imfinzi reduced the risk of death by 58% as a first-line maintenance treatment for extensive stage small cell lung cancer at a median follow-up of approximately 16 monthsUP AFTER EARNINGS -Alliance Resource Partnersup 3%Acumenup 2%Bank of Hawaiiup 1%UP AFTER EARNINGS -Verizondown 1%LOWER -FICOdown 9% after announcing that it will hold its wholesale mortgage price for the FICO Score through its tri-merge resellers at $10 for lenders and brokers enrolled in its Preferred ProgramEQT Corporationdown 6% after announcing the company will acquire Range in an all-stock transactionOvintivdown 1% after the company and Logan Energy announced that they have entered into a definitive agreement whereby Ovintiv will acquire all of the outstanding shares of Logan in an all-cash transaction that values Logan at approximately $890MMeta Platformsdown 1% after $35B stock offering

Ovintiv Acquires Logan Energy for $890 Million

Ovintiv and Logan Energy announced that they have entered into a definitive agreement whereby Ovintiv will acquire all of the outstanding shares of Logan in an all-cash transaction that values Logan at approximately $890M including expected net debt at closing. The acquisition is expected to add approximately 420 total net 10,000-foot equivalent oil well locations, and approximately 266,000 net acres in the Montney oil window. Current production from the acquired assets is approximately 20 MBOE/d of oil and condensate, 70 million cubic feet per day of natural gas and 1 Mbbls/d of other NGLs. The assets are located in close proximity to Ovintiv's existing Montney operations and include two new oil batteries and additional natural gas processing capacity. The transaction is expected to be funded through a combination of the company's cash on hand, borrowings under its credit facility and its commercial paper program. The transaction is expected to be immediately and long-term accretive across key operational and financial metrics including non-GAAP cash flow per Share of 5%, and non-GAAP free cash flow per share of 3% in 2027. The transaction is expected to generate cost synergies of approximately $60M annually, comprised primarily of capital savings, production cost savings and overhead cost reductions. Capital cost savings are estimated at more than $2 million per well across the acquired assets, consistent with Ovintiv's current Montney well costs. As part of the transaction, 100% of the shares of Logan Oil Corp., a newly formed wholly owned subsidiary of Logan, will be spun out to the shareholders of Logan and will include select Logan assets outside the Montney and Duvernay fairways. The transaction has been unanimously approved by the boards of directors of both Ovintiv and Logan and is expected to close early in the first quarter of 2027, subject to the receipt of Logan shareholder, court and regulatory approvals and the satisfaction of other customary closing conditions.

Ovintiv Receives Approval to Renew Share Buyback Program

Ovintiv has received regulatory approvals for the renewal of its share buy-back program. This action is consistent with Ovintiv's capital allocation framework, which commits to returning 50% to 100% of annual Non-GAAP Free Cash Flow to shareholders via the combination of base dividend payments and share buybacks. For 2026, Ovintiv has committed to returning at least 60% of annual Non-GAAP Free Cash Flow to shareholders. The Toronto Stock Exchange has accepted Ovintiv's notice of intention to renew its normal course issuer bid to purchase up to 26,973,037 common shares during the 12-month period commencing October 5, and ending October 4, 2027. The number of shares authorized for purchase represents 10 percent of Ovintiv's public float as of September 21, 2026, as calculated pursuant to TSX rules. Purchases will be made on the open market through the facilities of the TSX, New York Stock Exchange, other designated exchanges and/or alternative trading systems in Canada and the United States at the market price at the time of acquisition, as well as by other means permitted by stock exchange rules and securities laws including Rule 10b-18 under the Securities Exchange Act of 1934, as amended. Ovintiv has also renewed its automatic share purchase plan allowing it to purchase common shares under the NCIB when Ovintiv would ordinarily not be permitted to purchase shares due to regulatory restrictions and customary self-imposed blackout periods. Pursuant to the ASPP, Ovintiv will provide instructions during non-blackout periods to its designated broker, which may not be varied or suspended during the blackout period. Purchases by Ovintiv's designated broker will be in accordance with applicable stock exchange rules and securities laws and the terms of the ASPP. All purchases made under the ASPP are included in computing the number of common shares purchased under the NCIB. The ASPP has been pre-cleared as required by the TSX.