Ovintiv’s North American Portfolio Backstopping ‘Significant Torque’ for Rising Natural Gas Prices

Denver-based Ovintiv Inc., one of the largest natural gas producers in North America, is seeing its Western Canada options expand ahead of LNG Canada’s ramp-up, and as industrial demand from petrochemicals (petchem) and data centers begins to boom.

The multi-basin independent is throwing most of its financial weight this year to produce oil and condensate from the Permian and Anadarko basins, and the Montney Shale in Western Canada.

However, about one-half of the production is weighted to natural gas. That means Ovintiv should have opportunities to open the tap when it’s time, CFO Corey Code said during the recent fourth quarter conference call.