President, Chief Executive Officer & Director, Ovintiv
Search every verified Brendan Mccracken interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. Brendan McCracken, President and CEO of Ovintiv, discussed the company's $3.3 billion acquisition of assets in Canada's Montney shale formation in November 2024. He stated that the transaction creates a company with a "powerhouse" position in both the Permian and Montney basinschers. McCracken said the company is selling its Uinta Basin asset in Utah to focus capital on those two plays, which he described as having the largest remaining premium oil resource. He characterized Ovintiv's strategy as generating leading and durable returns for investors through a deep drilling inventory. In a 2022 keynote address, McCracken said Ovintiv was focused on debt reduction and returning cash to shareholders rather than production growth, citing investor sentiment. He noted that the company had met its long-term methane reduction target four years ahead of schedule and was aligned with the World Bank's zero routine flaring initiative. McCracken also said the company's production in British Columbia is electrified with hydroelectricity, resulting in a low carbon footprint, and argued that natural gas can play a significant role in decarbonizing the global energy mix.
“We're selling our Uinta Basin asset in Utah, which is an oil asset that we've been a big part of unlocking. While we really like that asset and it's played an important role for us, going forward, we're going to struggle to allocate capital away from our highly valuable positions in the Permian and the Montney and real...”
“This transaction creates a really unique company in the global context where we've now got a powerhouse in both the Permian and the Montney. When we stand back and look at the North American resource landscape over the next several decades, the two plays that stand out really have the largest amount of remaining premiu...”
“Our strategy is to generate and deliver leading and durable returns for investors. The key to that is to have a really deep and long drilling inventory, so undeveloped or real drilling locations which act as premium designation on their assets. Those are our drilling locations that deliver a leading return on the corpo...”
“We're picking up 70,000 barrels of oil equivalent production a day. We're selling about 30,000 of that 70, which is made up of 25,000 barrels a day of crude condensate and the remainder in natural gas.”
Ovintiv is ramping up its oil production following a $3.3B buy in Canada's Montney shale, CEO Brendan McCracken tells ...WE'RE JOINED BY BRENDAN MCCRACKEN, PRESIDENT AND CEO OF EVENTS BRENDAN. THANKS VERY MUCH FOR ...
... very interesting variables that we need to understand and uh i'm very excited to have brendan mccracken the president and ceo ...
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