North American exploration and production company Ovintiv Inc. has reported second-quarter 2025 earnings of $307 million, slipping from $340 million for Q2 2024.
In its quarterly update, Ovintiv reported that its average production for the three months ended June 30 was 615,000 barrels of oil equivalent per day (615 Mboe/d). This includes 211,000 barrels of oil and condensate per day (Mbbls/d), 96 Mbbls/d of other natural gas liquids, and 1.85 million cubic feet per day of natural gas.
“Strong well performance across our portfolio, the rapid integration of our new Montney assets, and enhanced capital efficiency have enabled us to reduce our expected 2025 capital investment and operating costs while increasing our full-year production guidance”, Brendan McCracken, Ovintiv President and CEO, said.
Ovintiv increased its full-year production guidance while reducing expected capital expenditures. Full-year production volumes are now expected to average 600-620 Mboe/d, with full-year expected capital investment of $2.12-2.17 billion.
Ovintiv said that its Permian production averaged 215 Mboe/d, 80 percent of which was liquids. It said 23 wells were turned in line. Ovintiv expects the capital investment in the play to total $1.20-1.25 billion to bring on 130-140 net wells.
In the Montney play, Ovintiv had 39 wells turned in line with production averaging 300 Mboe/d. Capital investment for the year is expected to be around $575-625 million to bring on 75-85 net wells.
In the second quarter, Anadarko production averaged 100 Mboe/d, with 59 percent liquids. The company had 11 net wells turned in line. For the full year, capital investment is projected to be around $290-310 million, with 25-35 net wells targeted to be brought online.
To contact the author, email andreson.n.paul@gmail.com
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
element
var scriptTag = document.createElement(‘script’);
scriptTag.src = url;
scriptTag.async = true;
scriptTag.onload = implementationCode;
scriptTag.onreadystatechange = implementationCode;
location.appendChild(scriptTag);
};
var div = document.getElementById(‘rigzonelogo’);
div.innerHTML += ” +
‘
‘ +
”;
var initJobSearch = function () {
//console.log(“call back”);
}
var addMetaPixel = function () {
if (-1 > -1 || -1 > -1) {
/*Meta Pixel Code*/
!function(f,b,e,v,n,t,s)
{if(f.fbq)return;n=f.fbq=function(){n.callMethod?
n.callMethod.apply(n,arguments):n.queue.push(arguments)};
if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version=’2.0′;
n.queue=[];t=b.createElement(e);t.async=!0;
t.src=v;s=b.getElementsByTagName(e)[0];
s.parentNode.insertBefore(t,s)}(window, document,’script’,
‘https://connect.facebook.net/en_US/fbevents.js’);
fbq(‘init’, ‘1517407191885185’);
fbq(‘track’, ‘PageView’);
/*End Meta Pixel Code*/
} else if (0 > -1 && 54 > -1)
{
/*Meta Pixel Code*/
!function(f,b,e,v,n,t,s)
{if(f.fbq)return;n=f.fbq=function(){n.callMethod?
n.callMethod.apply(n,arguments):n.queue.push(arguments)};
if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version=’2.0′;
n.queue=[];t=b.createElement(e);t.async=!0;
t.src=v;s=b.getElementsByTagName(e)[0];
s.parentNode.insertBefore(t,s)}(window, document,’script’,
‘https://connect.facebook.net/en_US/fbevents.js’);
fbq(‘init’, ‘1517407191885185’);
fbq(‘track’, ‘PageView’);
/*End Meta Pixel Code*/
}
}
// function gtmFunctionForLayout()
// {
//loadJS(“https://www.googletagmanager.com/gtag/js?id=G-K6ZDLWV6VX”, initJobSearch, document.body);
//}
// window.onload = (e => {
// setTimeout(
// function () {
// document.addEventListener(“DOMContentLoaded”, function () {
// // Select all anchor elements with class ‘ui-tabs-anchor’
// const anchors = document.querySelectorAll(‘a .ui-tabs-anchor’);
// // Loop through each anchor and remove the role attribute if it is set to “presentation”
// anchors.forEach(anchor => {
// if (anchor.getAttribute(‘role’) === ‘presentation’) {
// anchor.removeAttribute(‘role’);
// }
// });
// });
// }
// , 200);
//});
