Douglas George Blyth Leggate's questions to Ovintiv Inc (OVV) leadership • Q3 2024
Question
Doug Leggate of Wolfe Research posed two philosophical questions: First, whether future efficiency gains would lead to higher production or lower capital. Second, he asked how Ovintiv plans to gain relevance and compete for investor capital at its current scale, and if they were engaged in M&A talks.
Answer
Executive Brendan McCracken responded that the choice between higher production and lower capital will be driven by value and free cash generation, considering the macro environment. On scale, he expressed confidence in their current investor relevance and the role of strong independents in driving innovation, while noting the ultimate driver is shareholder value. He declined to comment on any specific M&A discussions.