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Ovintiv Business Segments

Business, geographic, and product segment breakdowns

Ovintiv generates $9.1B in annual revenue across 4 key segments: Canadian Operations Excluding Intercompany Segment Transactions ($3.2B), Canadian Operations ($3.3B), Market Optimization Excluding Intercompany Segment Transactions ($1.3B), and Usa Operations Excluding Intercompany Segment Transactions ($5.7B). The company-wide operating margin is 5.14%. Based on the Q1 2026 filing.

Canadian Operations Excluding Intercompany Segment Transactions (TTM)$3.2BCanadian Operations (TTM)$3.3BMarket Optimization Excluding Intercompany Segment Transactions (TTM)$1.3BUsa Operations Excluding Intercompany Segment Transactions (TTM)$5.7BUsa Operations (TTM)$5.7B
Latest FilingQ1 2026
Report Date2026-05-11
Market Cap$15.9B
P/E Ratio20.60
ROE7.13%

Products & Services

Proceeds From Sale Of Property Plant And Equipment

SegmentQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Anadarko Assets————$3B$2.9B

Contracted Capacity Volumes

SegmentQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Natural Gas Gathering And Compression913.00——239.00933.00—
Natural Gas Processing1152.00———1192.00—

Revenue

SegmentQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Natural Gas Gathering Processing And Other Service$3M———$7M—
Natural Gas Liquids Reserves$513M$544M$567M$491M$685M—
Natural Gas Reserves$472M$378M$317M$439M$601M—
Oil One$977M$833M$838M$775M$928M—

Geographic

Current Income Tax Expense Benefit

SegmentQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
CA$32M$25M$21M—$12M—
US$11M$1M-$7M-$11M$1M—

Deferred Tax

SegmentQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
CA-$173M$3M-$40M-$506M$35M—
US$96M$63M$70M—-$245M—

Business Segments

Accumulated Depreciation Depletion And Amortization Property Plant And Equipment

SegmentQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Canadian Operations$15.7B$16.8B$16.7B$17.2B$17.5B—
Usa Operations$38.1B$38.5B$38.9B$39.3B$40.7B—

Acquisitions

SegmentQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Canadian Operations$2.3B$1M-$34M$2M-$1M—
Usa Operations$2M$2M$3M$253M$8M—

Asset Impairment

SegmentQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Canadian Operations$730M$0$141M$0$374M—
Usa Operations$0$0$0$49M$1.1B—

Total Assets

SegmentQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Canadian Operations$4.1B$4.2B$3.9B$3.9B$7.1B—
Usa Operations$14.3B$14.2B$14.2B$14.4B$13.6B—

D&A

SegmentQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Canadian Operations$165M$180M$179M$159M$220M—
Usa Operations$375M$370M$361M$369M$336M—

Direct Operating Costs

SegmentQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Canadian Operations$36M$42M$42M$41M$51M—
Usa Operations$169M$177M$178M$177M$176M—

Revenue

SegmentQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Canadian Operations Excluding Intercompany Segment Transactions$695M$700M$661M$723M$1.1B—
Canadian Operations$725M$724M$698M$747M$1.1B—
Market Optimization Excluding Intercompany Segment Transactions$368M$450M$289M$338M$267M—
Usa Operations Excluding Intercompany Segment Transactions$1.7B$1.5B$1.4B$1.3B$1.5B—
Usa Operations$1.7B$1.5B$1.4B$1.4B$1.5B—

Gain Loss From Price Risk Management Activity

SegmentQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Canadian Operations$30M$24M$37M$24M$13M—
Usa Operations$0$9M$9M$33M-$23M—

Goodwill

SegmentQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Canadian Operations$608M$641M$628M$638M$905M—
Usa Operations$1.9B$1.9B$1.9B$1.9B$1.9B—

Operating Expenses

SegmentQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Canadian Operations$1.3B$593M$733M$563M$1.1B—
Usa Operations$1.1B$1.1B$970M$1.1B$2.1B—

Operating Income

SegmentQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Canadian Operations-$530M$131M-$35M—$8M—
Usa Operations$573M$399M$398M$312M-$603M—

Property Plant And Equipment Gross

SegmentQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Canadian Operations$18.4B$19.6B$19.3B$19.7B$22.7B—
Usa Operations$49.6B$49.9B$50.3B$50.9B$51.3B—

PP&E (Net)

SegmentQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Canadian Operations$2.7B$2.8B$2.5B$2.5B$5.2B—
Usa Operations$11.4B$11.4B$11.5B$11.6B$10.6B—

Purchased Product Costs

SegmentQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Canadian Operations$34M$45M$22M$36M$77M—
Usa Operations$368M$395M$256M$291M$267M—

Results Of Operations Impairment Of Oil And Gas Properties

SegmentQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Canadian Operations$730M—$141M—$374M—
Usa Operations$12.3M$12.3M$12.3M$12.3M$1.1B—

Segment Expenditure Addition To Long Lived Assets

SegmentQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Canadian Operations$158M$1M$126M$152M$187M—
Usa Operations$458M$350M$416M$313M$417M—

Sublease Rental Revenues

SegmentQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Canadian Operations$0$0$0$0$0—
Usa Operations$0$0$0$0$0—

Taxes Excluding Income And Excise Taxes

SegmentQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Canadian Operations$4M$6M$6M$5M$8M—
Usa Operations$83M$67M$66M$49M$71M—

Transportation And Processing Costs

SegmentQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Canadian Operations$286M$320M$343M$322M$356M—
Usa Operations$112M$115M$109M$117M$115M—

Disposition Of Properties

SegmentQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Usa Operations$1.9B$12M$22M$5M$7M—