# Ovintiv Targets 8% to 9% Growth in Oil and Condensate Output Per Share By John Kim Canonical URL: https://www.tokenpost.com/news/business/49528 Published: 2026-11-05T20:00:58.000Z Updated: 2026-11-05T20:00:58.000Z Section: Business > The company recorded about 6% growth over the previous six months and maintained most of its 2026 production guidance. Ovintiv Inc. is on pace for 8% to 9% growth in oil and condensate production per share by year-end, after recording about 6% growth over the previous six months. The update accompanied third-quarter results and the company’s latest production outlook. The company forecast full-year 2026 oil and condensate production of 210,000 to 212,000 barrels per day. Its fourth-quarter range is 203,000 to 207,000 barrels per day, and the outlook assumes a third-party midstream outage in the Montney continues through the quarter. Ovintiv maintained most of its guidance, with a modest increase to expected natural gas liquids volumes. Oil and plant condensate production averaged 203,700 barrels per day in the third quarter. For the quarter ended Sept. 30, Ovintiv posted $549 million in net earnings, or $1.99 per diluted share. Non-GAAP free cash flow was $680 million after $563 million in capital expenditures. The company returned $467 million to shareholders, about 69% of its non-GAAP free cash flow. That total included $386 million used to repurchase 6.3 million shares and $81 million in dividends. The approximately $60 million in annual cost synergies is part of the proposed acquisition of Logan Energy Corp. Ovintiv announced the agreement Oct. 26, with an expected deal value of about $890 million, including assumed net debt. The transaction is expected to add roughly 266,000 net acres and about 20,000 barrels of oil equivalent per day of production in the Montney. Ovintiv also estimated capital savings of more than $2 million per well. Ovintiv President and CEO Brendan McCracken said, “Our third quarter results demonstrate the ongoing commitment of our team to create value across the business, and we are on track to achieve record annual free cash flow.” The [Logan acquisition agreement announced Oct. 26]() remains subject to shareholder, court, regulatory and other customary approvals. Ovintiv expects it to close early in the first quarter of 2027. ## Links in this article - [Logan acquisition agreement announced Oct. 26](https://www.tokenpost.com/news/business/41046)