Ovintiv Earnings Call Hails Strong Free Cash Flow and Upgraded Production Guidance

Ovintiv Inc.'s latest earnings call highlighted strong free cash flow, a sharply stronger balance sheet, and upgraded production guidance.

The company generated $682 million of free cash flow in the second quarter and delivered cash flow per share of $4.46, both ahead of market expectations.

Ovintiv's net debt fell by roughly $3.4 billion over the period to $2.995 billion at quarter-end, pushing leverage down to about 0.6 times.

The company raised its full-year oil and condensate guidance to 210-212 thousand barrels per day, driven by better-than-expected performance in the Permian basin.