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Ovintiv reports Q2 EPS $1.18, consensus $1.02

Ovintiv reports Q2 EPS $1.18, consensus $1.02

Q2 production was above the guidance range on every product with average total production volumes of 615 MBOE/d, including 211 Mbbls/d of oil and condensate, 96 Mbbls/d of other NGLs and 1,851 MMcf/d of natural gas. 'Our Q2 results are a reflection of the quality of the business we have built,' said CEO Brendan McCracken. 'Strong well performance across our portfolio, the rapid integration of our new Montney assets and enhanced capital efficiency have enabled us to reduce our expected 2025 capital investment and operating costs while increasing our full year production guidance. As a result, assuming commodity prices of $60 WTI and $3.75 NYMEX for the second half of the year, we now expect to generate $1.65B of Free Cash Flow, up $150M from our previous estimate.'
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