An anonymous director reports

OVINTIV ANNOUNCES PERMIAN AND MONTNEY INVENTORY ADDITIONS

Ovintiv Inc. today provided an update on its 2026 ground game acquisition program. On a year-to-date basis, the company has entered into over 60 transactions, which will result in the addition of approximately 41,000 net acres of land across its Montney and Permian assets for a total acquisition cost of approximately $460-million. The transactions will add 240 net 10,000-foot equivalent well locations to Ovintiv's drilling inventory (190 base locations and 50 upside locations). The assets are being acquired at an attractive valuation of approximately $11,000 per net acre and approximately $1.3-million to $1.7-million per well location, when adjusted for minimal production volumes from the assets.

In the Permian, Ovintiv is acquiring approximately 21,000 net acres of land and 120 total well locations (80 base locations and 40 upside locations) in the Midland basin for approximately $230-million.

In the Montney, Ovintiv is acquiring approximately 20,000 net acres of land and 120 total well locations (110 base locations and 10 upside locations) in the liquids-rich Alberta oil window for approximately $230-million.

Following these transactions, the company will have added approximately 500 net 10,000-foot equivalent well locations year to date, with the inclusion of 260 locations from organic inventory enhancement.

Ovintiv expects the remaining transactions to close before the end of the year.

Important information

Ovintiv reports in U.S. dollars unless otherwise noted. Production estimates are reported on an after-royalties basis, unless otherwise noted. Unless otherwise specified or the context otherwise requires, references to Ovintiv or to the company include references to subsidiaries of and partnership interests held by Ovintiv and its subsidiaries.

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