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BRIEF-Ovintiv Reports Q4 Loss Per Share $0.02

Published 2020-02-19, 09:03 p/m
BRIEF-Ovintiv Reports Q4 Loss Per Share $0.02

Feb 19 (Reuters) - Ovintiv Inc OVV.N :

* OVINTIV ISSUES 2020 OUTLOOK; COMPANY EXPECTS TO DELIVER CASH FROM OPERATIONS SIGNIFICANTLY IN EXCESS OF CAPITAL FOR THE THIRD CONSECUTIVE YEAR; FOURTH QUARTER 2019 RESULTS TOP CONSENSUS ESTIMATES

* Q4 NON-GAAP OPERATING EARNINGS PER SHARE $0.81

* Q4 LOSS PER SHARE $0.02

* Q4 EARNINGS PER SHARE ESTIMATE $0.75 -- REFINITIV IBES DATA

* 2020 IS EXPECTED TO BE THIRD CONSECUTIVE YEAR OF SIGNIFICANT NON-GAAP FREE CASH FLOW

* PLANNED 2020 CAPITAL INVESTMENTS TOTAL $2.7 BILLION, DOWN 6%, OR $175 MILLION LESS THAN 2019 PROFORMA CAPITAL INVESTMENT

* TOTAL COMPANY PRODUCTION IN Q4 OF 2019 WAS 592,600 BOE/D

* Q4 LIQUIDS PRODUCTION AVERAGED 322,000 BBLS/D

* TOTAL COSTS IN 2020 ARE EXPECTED TO DROP AGAIN YEAR-OVER-YEAR TO $12.20 - $12.50 PER BARREL OF OIL EQUIVALENT

* PROFORMA PRODUCTION FROM ANADARKO INCREASED 17% YEAR-OVER-YEAR TO 158,300 BOE/D, OF WHICH 62% WAS LIQUIDS

* Q4 CRUDE OIL AND CONDENSATE PRODUCTION WAS 226 MBBLS/D

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