Ovintiv Inc. (OVV) Tops Q4 EPS by $3.34

Ovintiv Inc. (NYSE: OVV) reported Q4 EPS of $5.21, $3.34 better than the analyst estimate of $1.87.

2022 Guidance The Company issued the following 2022 guidance:

2022 OutlookWith capital investment of approximately $1.5 billion in 2022, the Company expects to maintain oil and condensate production volumes of approximately 180 to 190 Mbbls/d. This range reflects a maintenance production program relative to the second half of 2021. Ovintiv expects to preserve its 2021 capital efficiency and offset inflationary pressures on capital costs in 2022 with efficiency and productivity gains. The Company expects its capital investment to be more weighted to the first half of the year.

"Maintaining our capital efficiency in 2022 will be a differentiating factor among our peers," said McCracken. "Despite the inflationary pressures across the economy, our teams continue to find innovative ways to offset cost inflation and improve well performance. Our industry-leading well cost and productivity performance, combined with our demonstrated operational efficiencies and culture of innovation give us confidence in the repeatability of our capital program in 2022. With more than a decade of premium drilling inventory in each of our core three assets – the Permian, Anadarko and Montney – we are well positioned to continue delivering industry-leading capital efficiencies for many years to come."

In the first quarter, through capital investments of $425 to $440 million, Ovintiv expects to deliver oil and condensate production of 174 to 178 Mbbls/d, other NGLs production of 77 to 81 Mbbls/d and natural gas production of 1,430 to 1,480 MMcf/d.

For earnings history and earnings-related data on Ovintiv Inc. (OVV) click here.

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