Ovintiv Inc (OVV) News & EventsOVVOvintiv Inc

Ovintiv Updates 2026 Acquisition Program with $460M Investment

Ovintiv provided an update on its 2026 ground game acquisition program. On a year-to-date basis, the Company has entered into over 60 transactions, which will result in the addition of approximately 41,000 net acres of land across its Montney and Permian assets for a total acquisition cost of approximately $460M. The transactions will add 240 net 10,000-foot equivalent well locations to Ovintiv's drilling inventory. The assets are being acquired at an attractive valuation of approximately $11,000 per net acre, and approximately $1.3M to $1.7M per well location, when adjusted for minimal production volumes from the assets. In the Permian, Ovintiv is acquiring approximately 21,000 net acres of land and 120 total well locations in the Midland basin for approximately $230M. In the Montney, Ovintiv is acquiring approximately 20,000 net acres of land and 120 total well locations in the liquids-rich Alberta oil window for approximately $230M. Following these transactions, the company will have added approximately 500 net 10,000-foot equivalent well locations year-to-date, with the inclusion of 260 locations from organic inventory enhancement. Ovintiv expects the remaining transactions to close before the end of the year.

Significant Increases in Indicative Borrow Rates for Liquid Options

Latest data shows the largest indicative borrow rate increases among liquid option names include: Direxion Daily PLTR Bull 2X Shares (PLTU) 7.19% +2.22, Direxion S&P Biotech Bear 3X (LABD) 30.90% +2.19, Microvision (MVIS) 15.14% +0.35, iShares Global Clean Energy (ICLN) 18.53% +0.31, American Bitcoin Corp (ABTC) 2.70% +0.31, SPDR S&P Homebuilders (XHB) 1.48% +0.25, Hesai Group (HSAI) 1.33% +0.24, WhiteFiber Inc (WYFI) 23.39% +0.18, Ovintiv (OVV) 0.41% +0.16, and New York Times (NYT) 0.41% +0.16.

Ovintiv Reports Over $1.3 Billion Free Cash Flow in Q2

"Our second quarter results continued to demonstrate industry-leading performance across the board driven by our stacked innovation approach," said Ovintiv President and CEO, Brendan McCracken. "Our company is positioned with a deep inventory of superior-return drilling locations, a fortified balance sheet, and leading edge well costs and oil productivity performance. The outcomes of our strategic execution are reflected in our results. Halfway through the year, we've generated more than $1.3 billion of Free Cash Flow, organically replaced our full-year 2026 drilling locations in both the Permian and the Montney, and are set to grow oil production per share by 4% with no increase to activity or capital expenditure."