Ovintiv Inc
For the period ended Jun 30, 2024. Filed Jul 30, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Jul 30, 2024
OVV$60.50-0.0%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Balance Sheet
| As at · As at | ||||||
|---|---|---|---|---|---|---|
| June 30, · December 31, | ||||||
| (US$ millions) · 2024 · 2023 | ||||||
| Assets | ||||||
| Current Assets | ||||||
| Cash and cash equivalents | $8 | $3 | ||||
| Accounts receivable and accrued revenues (net of allowances | ||||||
| of $5 million (2023: $5 million)) | (Note 4) | 1,208 | 1,442 | |||
| Risk management | (Notes 18, 19) | 117 | 214 | |||
| Income tax receivable | 67 | 17 | ||||
| 1,400 | 1,676 | |||||
| Property, Plant and Equipment, at cost: | (Note 10) | |||||
| Oil and natural gas properties, based on full cost accounting | ||||||
| Proved properties | 65,239 | 64,084 | ||||
| Unproved properties | 1,152 | 1,486 | ||||
| Other | 900 | 907 | ||||
| Property, plant and equipment | 67,291 | 66,477 | ||||
| Less: Accumulated depreciation, depletion and amortization | (52,447) | (51,837) | ||||
| Property, plant and equipment, net | (Note 3) | 14,844 | 14,640 | |||
| Other Assets | 978 | 1,015 | ||||
| Risk Management | (Notes 18, 19) | 10 | 4 | |||
| Deferred Income Taxes | - | 53 | ||||
| Goodwill | (Note 3) | 2,577 | 2,599 | |||
| (Note 3) | $19,809 | $19,987 | ||||
| Liabilities and Shareholders’ Equity | ||||||
| Current Liabilities | ||||||
| Accounts payable and accrued liabilities | $1,872 | $2,209 | ||||
| Current portion of operating lease liabilities | 85 | 87 | ||||
| Income tax payable | 2 | 232 | ||||
| Risk management | (Notes 18, 19) | 7 | - | |||
| Current portion of long-term debt | (Note 12) | 1,234 | 284 | |||
| 3,200 | 2,812 | |||||
| Long-Term Debt | (Note 12) | 4,853 | 5,453 | |||
| Operating Lease Liabilities | 804 | 832 | ||||
| Other Liabilities and Provisions | (Note 13) | 141 | 132 | |||
| Risk Management | (Notes 18, 19) | 6 | 2 | |||
| Asset Retirement Obligation | 261 | 276 | ||||
| Deferred Income Taxes | 216 | 110 | ||||
| 9,481 | 9,617 | |||||
| Commitments and Contingencies | (Note 21) | |||||
| Shareholders’ Equity | ||||||
| Share capital - authorized 775 million shares of stock | ||||||
| 2024 issued and outstanding: 264.1 million shares (2023: 271.7 million shares) | (Note 14) | 3 | 3 | |||
| Paid in surplus | (Note 14) | 8,170 | 8,620 | |||
| Retained earnings | 1,215 | 697 | ||||
| Accumulated other comprehensive income | (Note 15) | 940 | 1,050 | |||
| Total Shareholders’ Equity | 10,328 | 10,370 | ||||
| $19,809 | $19,987 | |||||
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