Discontinued — last reported Q3 '24
Market Optimization — Purchased Product Costs
Ovintiv Market Optimization — Purchased Product Costs decreased by 5.3% to $2.13B in Q3 2024 compared to the prior quarter. Year-over-year, this metric declined by 19.9%, from $2.66B to $2.13B. Over 2 years (FY 2021 to FY 2023), Market Optimization — Purchased Product Costs shows relatively stable performance with a 3.6% CAGR. This is a positive signal — lower values indicate better performance for this metric.
Analysis
How to read this metric
An increase usually correlates with higher trading volumes or rising commodity prices in the market.
Detailed definition
The cost of purchasing oil, natural gas, or NGLs from third parties to fulfill marketing contracts or optimize the segme...
Peer comparison
Commonly referred to as 'Cost of Goods Sold' or 'Purchased Product Costs' in energy marketing and trading segments.
ovv_segment_market_optimization_purchased_product_costsHistorical Data
| Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $2.49B | $2.60B | $3.03B | $3.30B | $4.21B | $3.97B | $3.60B | $3.00B | $2.72B | $2.66B | $2.51B | $2.35B | $2.25B | $2.13B |
| QoQ Change | — | +4.2% | +16.7% | +8.8% | +27.9% | -5.7% | -9.3% | -16.8% | -9.3% | -2.4% | -5.6% | -6.1% | -4.5% | -5.3% |
| YoY Change | — | — | — | — | +69.1% | +53.0% | +18.9% | -9.0% | -35.5% | -33.2% | -30.4% | -21.5% | -17.4% | -19.9% |
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Frequently Asked Questions
- What is Ovintiv's market optimization — purchased product costs?
- Ovintiv (OVV) reported market optimization — purchased product costs of $2.13B in Q3 2024.
- How has Ovintiv's market optimization — purchased product costs changed year-over-year?
- Ovintiv's market optimization — purchased product costs decreased by 19.9% year-over-year, from $2.66B to $2.13B.
- What is the long-term trend for Ovintiv's market optimization — purchased product costs?
- Over 2 years (2021 to 2023), Ovintiv's market optimization — purchased product costs has grown at a 3.6% compound annual growth rate (CAGR), from $10.14B to $10.88B.
- What does market optimization — purchased product costs mean?
- The cost of buying commodities from third parties to resell.