Overview

* Ovintiv ( OVV ) Q3 production reached high end of company guidance, averaging 630 MBOE/d

* Company generated $812 mln cash from operations, reduced net debt by $126 mln

* Ovintiv ( OVV ) increased full year production guidance, capital investment unchanged

Outlook

* Ovintiv ( OVV ) raises full-year production guidance to 610-620 MBOE/d

* Company maintains full-year capital investment guidance at $2.125 bln to $2.175 bln

* Company lowers full-year tax expense guidance by 50% due to internal restructuring

Result Drivers

* HIGH PRODUCTION VOLUMES - Ovintiv's ( OVV ) Q3 production was at or above the high end of guidance, with total production volumes averaging 630 MBOE/d

* DEBT REDUCTION - Ovintiv ( OVV ) reduced net debt by $126 million during the quarter, reflecting a focus on financial health

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 EPS $0.57

Q3 Net $148 mln

Income

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)