Ovintiv raised its expected Permian oil and condensate production rate to 125,000 barrels per day after strong new-well and base-production performance, without increasing capital spending or drilling activity. Its 78 Midland Basin permits—including 44 without an Activity Date—provide a substantial drilling inventory concentrated in Martin, Upton, Andrews, Midland and Howard counties.
Ovintiv’s Q1 2026 results highlighted strong operational execution in both the Permian and Montney, with the company emphasizing industry-leading well productivity, successful integration of the NuVista acquisition, significant debt reduction, and a disciplined free-cash-flow-focused strategy. The Ovintiv YTD wells drilled dataset contains 54 records, with the majority of activity concentrated in Martin County and primarily operated by H&P rigs, led by rigs 264, 551, 616, and 379.
Ovintiv closed its $3.0 billion sale of Anadarko Basin assets, exiting Oklahoma as part of a broader strategy to streamline its portfolio and reduce debt. Prior to the sale, drilling activity was highly concentrated with 63 wells—primarily in Kingfisher County—drilled mostly by H&P using just two rigs, reflecting an efficient, focused development approach.
Ovintiv’s Mohawk project in Martin County represents a highly structured, multi-pad Spraberry development with improving drilling efficiency and a tightly coordinated transition from permitting to production. The program reflects a repeatable Permian model, combining standardized well design, dedicated rigs, and rapid facility deployment within a ~30–45–113 day development cycle.
HERBERT F101B highlights how Ovintiv executes small, well-defined Midland Basin developments with tight drilling cadence, single-rig batch execution, and clean regulatory close-out. Rather than a factory-style program, the four-well project reflects disciplined capital deployment where drilling, facilities, and permitting are tightly aligned to complete the development efficiently.
Ovintiv is divesting nearly all of its Anadarko Basin assets in Oklahoma for $3 billion, exiting ~360,000 net acres and ~90,000 boe/d to sharpen its portfolio and accelerate debt reduction and shareholder returns. The move reinforces Ovintiv’s strategy to concentrate capital in its highest-return core assets in the Permian Basin and Montney, further strengthened by the recently closed NuVista acquisition.
In Martin County’s Midland Basin, Block 35T3N has quietly become one of Ovintiv’s most disciplined manufacturing lines. By comparing two projects on the same block—the LADY BIRD Factory (2024) and the newly permitted FREETAIL F21M Factory (2025–26)—a clear pattern emerges: identical personas, nearly identical cadence, and a repeatable $60–75 million capital cell that Ovintiv is rolling forward pad by pad.
Ovintiv’s 2025 drilling program is not just about where rigs are running — it is about where the company is choosing to build long-term value versus where it is preparing to monetize assets. That distinction became very clear on Ovintiv’s Q3-2025 earnings call, where management outlined a portfolio reset centered on core growth engine: the Permian Basin — while preparing to exit the Anadarko Basin.
n the Permian Basin, where M&A valuations have surged and top-tier drilling inventory commands a premium, most operators insist that “everything is picked over.” But Ovintiv is proving otherwise. While mega-deals dominate headlines, Ovintiv is quietly executing one of the most effective—and overlooked—strategies in the Midland Basin: the ground game.
The Alpine F258X CTB permit is more than a routine filing—it’s a signal of Ovintiv’s integrated approach to Pad Development + Centralized Facilities + Basin-Wide Optimization. By combining near-term execution on the Alpine lease with basin-wide efficiency and deep inventory, Ovintiv is reinforcing its role as one of the most disciplined and productive operators in the Permian Basin.
