Ovintiv Inc 2025年季度报告

☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF1934 Ovintiv Inc. (State or other jurisdiction of incorporation or organization) Securities registered pursuant to Section 12(b) of the Act:Title of each classTrading Symbol(s)Common SharesOVV Name of each exchange on which registeredNew York Stock Exchange Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of theSecurities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to besubmitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer,smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” Large accelerated filerNon-accelerated filer If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transitionperiod for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).Yes☐No☒ Number of registrant’s shares of common stock outstanding as of April 25, 2025 OVINTIV INC.FORM 10-Q PART I DEFINITIONS Unless the context otherwise requires or otherwise expressly stated, all references in this Quarterly Report on Form 10-Q to“Ovintiv,” the “Company,” “us,” “we,” “our,” and “ours” refer to Ovintiv Inc. and its consolidated subsidiaries. In addition, the “AECO” means Alberta Energy Company and is the Canadian benchmark price for natural gas.“ASU” means Accounting Standards Update.“bbl” or “bbls” means barrel or barrels.“BOE” means barrels of oil equivalent.“Btu” means British thermal units, a measure of heating value.“CORRA” means Canadian Overnight Repo Rate Average.“DD&A” means depreciation, depletion and amortization expenses.“FASB” means Financial Accounting Standards Board.“GHG” means greenhouse gas.“Mbbls/d” means thousand barrels per day.“MBOE/d” means thousand barrels of oil equivalent per day.“Mcf” means thousand cubic feet.“MD&A” means Management’s Discussion and Analysis of Financial Condition and Results of Operations.“MMBOE” means million barrels of oil equivalent.“MMBtu” means million Btu.“MMcf/d” means million cubic feet per day.“NCIB” means normal course issuer bid.“NGL” or “NGLs” means natural gas liquids.“NYMEX” means New York Mercantile Exchange.“NYSE” means New York Stock Exchange.“OPEC” means Organization of the Petroleum Exporting Countries.“SEC” means United States Securities and Exchange Commission.“S&P 400” means Standard and Poor’s MidCap 400 index.“TSX” means Toronto Stock Exchange.“U.S.”, “United States” or “USA” means United States of America.“U.S. GAAP” means U.S. Generally Accepted Accounting Principles.“WTI” means West Texas Intermediate. CONVERSIONS In this Quarterly Report on Form 10-Q, a conversion of natural gas volumes to BOE is on the basis of six Mcf to one bbl. BOE isbased on a generic energy equivalency conversion method primarily applicable at the burner tip and does not represent economicvalue equivalency at the wellhead. Given that the value ratio based on the current price of oil as compared to natural gas is CONVENTIONS Unless otherwise specified, all dollar amounts are expressed in U.S. dollars, all references to “dollars”, “$” or “US$” are to U.S.dollars and all references to “C$” are to Canadian dollars. All amounts are provided on a before tax basis, unless otherwise stated. The terms “include”, “includes”, “including” and “included” are to be construed as if they were immediately followed by the words The term “liquids” is used to represent oil, NGLs and condensate. The term “liquids-rich” is used to represent natural gas streamswith associated liquids volumes. The term “play” is used to describe an area in which hydrocarbon accumulations or prospects of agiven type occur. Ovintiv’s focus of development is on hydrocarbon accumulations known to exist over a large areal expanse References to information contained on the Company’s website atwww.ovintiv.comare not incorporated by reference into, and FORWARD-LOOKING STATEMENTS AND RISK This Quarterly Report on Form 10-Q, and the other documents incorporated herein by reference (if any), contain certain forward-looking statements or information (collectively, “forward-looking statements”) within the meaning of applicable securitieslegislation, including Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of theSecurities Exchange Act of 1934, as amended (the