North American exploration and manufacturing firm Ovintiv Inc. has reported second-quarter 2025 earnings of $307 million, slipping from $340 million for Q2 2024.
In its quarterly replace, Ovintiv reported that its common manufacturing for the three months ended June 30 was 615,000 barrels of oil equal per day (615 Mboe/d). This contains 211,000 barrels of oil and condensate per day (Mbbls/d), 96 Mbbls/d of different pure gasoline liquids, and 1.85 million cubic toes per day of pure gasoline.
“Robust properly efficiency throughout our portfolio, the speedy integration of our new Montney belongings, and enhanced capital effectivity have enabled us to cut back our anticipated 2025 capital funding and working prices whereas growing our full-year manufacturing steerage”, Brendan McCracken, Ovintiv President and CEO, stated.
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Ovintiv elevated its full-year manufacturing steerage whereas lowering anticipated capital expenditures. Full-year manufacturing volumes at the moment are anticipated to common 600-620 Mboe/d, with full-year anticipated capital funding of $2.12-2.17 billion.
Ovintiv stated that its Permian manufacturing averaged 215 Mboe/d, 80 p.c of which was liquids. It stated 23 wells had been turned in line. Ovintiv expects the capital funding within the play to whole $1.20-1.25 billion to convey on 130-140 web wells.
Within the Montney play, Ovintiv had 39 wells turned according to manufacturing averaging 300 Mboe/d. Capital funding for the 12 months is anticipated to be round $575-625 million to convey on 75-85 web wells.
Within the second quarter, Anadarko manufacturing averaged 100 Mboe/d, with 59 p.c liquids. The corporate had 11 web wells turned in line. For the complete 12 months, capital funding is projected to be round $290-310 million, with 25-35 web wells focused to be introduced on-line.
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