OVV - Ovintiv: Increased Full-Year Production Guidance After Its Q1 2024 Results
2024-06-13 06:53:30 ET
Summary
- Ovintiv generated Q1 2024 production near the high end of its guidance. This contributed to an increase in its full-year production guidance.
- Ovintiv's transportation and processing expense is also trending a bit lower than expected.
- Ovintiv is now projected to generate $1.898 billion in free cash flow at current strip.
- Weak AECO and Waha natural gas prices are largely mitigated via basis hedges and firm transport to premium gas markets.
Ovintiv Inc. 's ( OVV ) production ended up near the high-end of expectations for Q1 2024 , resulting in it increasing its full-year guidance slightly (although driven more by the production of natural gas and NGLs than oil production)....
Ovintiv: Increased Full-Year Production Guidance After Its Q1 2024 Results