Ovintiv Inc. (OVV) has released an update.
Ovintiv Inc. concluded 2023 with a robust financial standing, delivering net earnings of $2.1 billion and surpassing production targets across all products, resulting in a total average volume of 566 MBOE/d. The company also returned $733 million to shareholders and is set to increase capital efficiency in 2024 with a projected rise in oil and condensate volumes while spending less capital. The positive trend is anticipated to produce approximately $450 million more in free cash flow compared to the previous year.
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