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Ovintiv 8-K Report, Financial Results (Feb 23, 2026)

Reports
Earnings & Results·Other Events·Exhibits & Filings
Filing Date
Filed February 23, 2026
Period End
February 23, 2026
Security
OVV
In the record · 2020–202610-K710-Q218-K127

OVV filed 7 annual reports (10-K), 21 quarterly reports (10-Q) and 127 current reports (8-K) between 2020 and 2026.

  1. Material agreement8-K · Apr ’21Apr ’21
  2. Leadership change8-K · Sep ’22Sep ’22
  3. Leadership change8-K · Mar ’24Mar ’24
  4. Material agreement8-K · Oct ’26Oct ’26

01—Abstract

Summary

Summary of the 8-K filed February 23, 2026. Cited figures are marked; the original filing is the authoritative source.

Ovintiv Inc. (NYSE, TSX: OVV) reported fourth quarter and full year 2025 results on February 23, 2026.

For full year 2025, the company generated cash from operating activities of $3.7 billiona, Non-GAAP Cash Flow of $3.8 billion and Non-GAAP Free Cash Flow of $1.6 billion after capital expenditures of $2.1 billion. Net earnings were $1.2 billion, or $4.78 per share diluted, including non-cash ceiling test impairments of $703 million after tax. The company also reported that it closed the acquisition of NuVista Energy Ltd. on February 3, 2026, for approximately $2.7 billion, and agreed in February 2026 to sell its Anadarko assets for total cash proceeds of $3.0 billion.

The company announced a new shareholder return framework under which 2026 shareholder returns will increase to at least 75% of full year Non-GAAP Free Cash Flow, with a longer-term range of 50% to 100% of annual Non-GAAP Free Cash Flow. The Board authorized a share buyback program totaling $3.0 billionb, with buybacks expected to commence immediately, and declared a quarterly dividend of $0.30 per share payable March 31, 2026. For 2026, the company guided to a full year capital investment of $2.25 billion to $2.35 billion and total production of 620 to 645 MBOE/d.

On the balance sheet, the company reported approximately $4.5 billionc in total liquidity at December 31, 2025, Debt to EBITDA of 1.6 times and Debt to Adjusted EBITDA of 1.2 times. Following the close of the Anadarko disposition, the company expects Net Debt of approximately $3.6 billion. Proved reserves at year-end 2025 were 2.3 billion BOE.

02—Key points

Key Highlights

  1. Full year 2025 Non-GAAP Free Cash Flow of $1.6 billion after capital expenditures of $2.1 billion, with Non-GAAP Cash Flow of $3.8 billion
  2. Full year 2025 net earnings of $1.2 billion, or $4.78 per share diluted, including $703 million after-tax non-cash ceiling test impairments
  3. New shareholder return framework: 2026 returns to increase to at least 75% of full year Non-GAAP Free Cash Flow, with a $3.0 billion share buyback program authorized
  4. Quarterly dividend of $0.30 per share declared, payable March 31, 2026 to holders of record on March 13, 2026
  5. NuVista Energy Ltd. acquisition closed February 3, 2026 for approximately $2.7 billion, adding about 100 MBOE/d of production
  6. Anadarko asset sale agreed in February 2026 for total cash proceeds of $3.0 billion, expected to close April 1, 2026 per guidance assumptions
  7. 2026 guidance: capital investment of $2.25 to $2.35 billion and full year production of 620 to 645 MBOE/d

03—Questions

Frequently Asked Questions

  1. How much did Ovintiv return to shareholders in 2025, and how will this change in 2026?

    In 2025, shareholder returns totaled approximately $612 million, consisting of about $304 million in share buybacks (approximately 7.8 million shares) and about $308 million in base dividend payments. Planned 2026 shareholder returns will increase to at least 75% of full year Non-GAAP Free Cash Flow, and the Board authorized a $3.0 billion share buyback program, with buybacks expected to commence immediately.

  2. What is the company's balance sheet position after the NuVista acquisition and Anadarko sale?

    At December 31, 2025, total liquidity was approximately $4.5 billion and Debt to EBITDA was 1.6 times while Debt to Adjusted EBITDA was 1.2 times. The company expects Net Debt to total approximately $3.6 billion following the close of the Anadarko disposition. The company is rated investment grade by four credit rating agencies.

  3. What production and capital guidance did Ovintiv provide for 2026?

    For full year 2026, the company guided to total production of 620 to 645 MBOE/d, including oil and condensate of 205 to 212 Mbbls/d, and capital investment of $2.25 to $2.35 billion. First quarter 2026 total production guidance is 660 to 680 MBOE/d, which includes NuVista volumes.

  4. What were the company's full year 2025 reserves?

    SEC proved reserves at year-end 2025 were 2.3 billion BOE, of which approximately 50% were liquids and 64% were proved developed. Total proved reserves replacement excluding the impact of acquisitions and divestitures was 150% of 2025 production.

04—Continue

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