Ovintiv is considering significant strategic shifts with the potential sale of its Uinta Basin operations.

Ovintiv reported net earnings of $340 million and achieved significant production volumes across its key assets, underscoring its commitment to delivering strong, consistent results for shareholders.The 2Q24 earnings presentation for Ovintiv mentions “Trimulfrac” in the context of their completion strategies and operational efficiency improvements.

Ovintiv Inc. posted strong financial results for the first quarter of 2024, with net earnings of $338 million and robust cash flow of $1,035 million.

Ovintiv President and CEO, Brendan McCracken. “Strong well performance across the portfolio, combined with the seamless integration of our new Permian assets, has allowed us to significantly exceed our oil and condensate guidance, reflecting both enhanced capital efficiency and higher returns on our invested capital.”

Another significant find of oil has been made in McClain County where Ovintiv USA Inc. reported two wells drilled on a single pad and combined production of nearly 1,500 barrels of oil a day.

Permian Basin shale producer Ovintiv is set to expand its operational footprint in the region with its acquisition of three private-equity backed operators for $4.275 billion in cash and stock.

Ovintiv 2023 capital investment of approximately $2.25 billion at the midpoint, the Company expects to deliver total production volumes of 500 to 525 MBOE/d.

Kingfisher County remains a gold mine for Ovintiv Inc. The company filed completion reports in recent days showing two wells on a single pad, each with production of more than 1,300 barrels of oil a day. That’s a combined 2,600 barrels of oil from the same pad.