Ovintiv faces test of staying power
The Canadian firm has rebranded and joined the US shale revolution. But the oil price crisis is raising doubts about whether recent acquisitions will be economically viable
Reinventing Canadian energy company Encana as Ovintiv has been a long battle for survival, CEO Doug Suttles tells Petroleum Economist. Encana became primarily a natural gas producer in November 2009, when it spun off its upstream oil and refining assets into a new company called Cenovus Energy, just as the US shale gas revolution was gaining momentum. Since taking over the formerly Calgary-based company in June 2013, Suttles has rebalanced its production portfolio primarily through a series of acquisitions and asset sales, streamlined company operations and re-domiciled its headquarters to Denver, Colorado under its new name to gain access to greater pools of capital in the US. “Ovinti
Also in this section
5 August 2025
After failed attempts to find a buyer for its stake in Russia’s largest oil producer, BP may be able to avoid the harsh treatment meted out to ExxonMobil and Shell when they exited—and could even restart operations if geopolitical conditions improve
1 August 2025
A number of companies have filed arbitration claims against Gazprom over non-deliveries of contracted gas or other matters—and won. The next step is to collect the award, but this is no easy task
1 August 2025
Europe’s refining sector is desperately trying to adapt to a shifting global energy landscape and nowhere is this more apparent than in its largest economy
1 August 2025
The Middle East natural gas playbook is being rewritten. The fuel source offers the region a pathway to a cleaner, sustainable and affordable means of local power, to fasttrack economic development and as a lucrative opportunity to better monetise its energy resources.
