8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): October 13, 2020

Ovintiv Inc.

(Exact Name of Registrant as Specified in its Charter)

Delaware (State or Other Jurisdiction of Incorporation)	001-39191 (Commission File Number)	84-4427672 (I.R.S. Employer Identification No.)
Suite 1700, 370 - 17th Street Denver, Colorado (Address of principal executive offices)		80202 (Zip Code)

(303) 623-2300

(Registrant’s telephone number, including area code)

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, par value $0.01 per share	OVV	New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

ITEM 8.01    Other Events.

On October 13, 2020, Ovintiv Inc. issued a news release announcing the start-up of the Pipestone Processing Facility, a natural gas processing and liquids stabilization plant supporting the company’s Montney development. A copy of the news release is attached as Exhibit 99.1 to this Current Report on Form 8-K.  

ITEM 9.01    Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.	Exhibit Description
Exhibit 99.1	News Release dated October 13, 2020.
Exhibit 104	Cover Page Interactive Data File (embedded within the Inline XBRL document).

EXHIBIT INDEX

Exhibit No.	Exhibit Description
Exhibit 99.1	News Release dated October 13, 2020.
Exhibit 104	Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated October 13, 2020

OVINTIV INC.
(Registrant)
By:	/s/ Dawna I. Gibb
	Name: Dawna I. Gibb
	Title:   Assistant Corporate Secretary

EX-99.1

	Exhibit 99.1
	news release

Ovintiv Announces Start-Up of Pipestone Processing Facility

DENVER, October 13, 2020 – Ovintiv Inc. (NYSE, TSX: OVV) today announced the start-up of the Pipestone Processing Facility (PPF), a natural gas processing and liquids stabilization plant supporting the Company’s high-return, condensate-rich Montney development. Ovintiv managed the PPF’s design and construction and delivered its start-up more than five months ahead of its original schedule and at budgeted costs.

The start-up of the PPF provides Ovintiv with additional net processing capacity of approximately 170 MMcf/d of natural gas and 19,000 bbls/d of liquids, primarily condensate. The start-up of the PPF required no new drilling to satisfy new capacity arrangements. The facility allows Ovintiv to maximize its existing volumes and optimize midstream fees by routing production to gathering systems with lower line pressures, as well as the capacity to grow its Pipestone Montney resources.  

The PPF, which is owned by Keyera Partnership (Keyera), a subsidiary of Keyera Corp., provides Ovintiv with processing under a “fee-for-service” midstream agreement. Ovintiv has successfully employed this development model in other recent midstream expansions. These agreements provide increased financial flexibility with a limited financial obligation of a revenue guarantee on a fraction of its initial capacity rights.

“We continue to show our team’s ability to manage complex projects. In fact, this is our fourth project since 2017 delivered ahead of schedule and at or below budgeted costs,” said Ovintiv CEO Doug Suttles. “This project provides a very cost effective and flexible arrangement to optimize our Montney production and the capacity to fully capture the resource potential from our very attractive Pipestone asset. We have a great working relationship with Keyera and our business interests are aligned to safely operate this important addition to the condensate-rich Montney.”  

ADVISORY REGARDING FORWARD-LOOKING STATEMENTS – This news release contains certain forward-looking statements or information (collectively, “FLS”) within the meaning of applicable securities legislation, including the United States Private Securities Litigation Reform Act of 1995. FLS include: anticipated facility capacity; anticipated benefits of the Company’s midstream arrangement with Keyera; the Company’s ability to deliver projects on time and on budget; and the Company’s ability to maximize volumes and optimize midstream fees by routing production to gathering systems with lower line pressures. FLS involve assumptions, risks and uncertainties that may cause such statements not to occur or results to differ materially. These assumptions include: enforceability of midstream arrangement; and expectations and projections made in light of the Company’s historical experience. Risks and uncertainties include: business interruption, property and casualty losses or unexpected technical difficulties, and corresponding impact to the facility or its processing and handling capacity; risks associated with handling sour gas; counterparty and credit risk; ability to generate sufficient cash flow to meet obligations; commodity price volatility; ability to secure adequate transportation and potential curtailments; impact of changes in credit rating; risks in marketing operations; and other risks and uncertainties as described in the Company’s Annual Report on Form 10-K, Quarterly Report on Form 10-Q and as described from time to time in its other periodic filings as filed on EDGAR and SEDAR. Although the Company believes such FLS are reasonable, there can be no assurance they will prove to be correct. The above assumptions, risks and uncertainties are not exhaustive. FLS are made as of the date hereof and, except as required by law, the Company undertakes no obligation to update or revise any FLS.

Further information on Ovintiv Inc. is available on the Company’s website, www.ovintiv.com, or by contacting:

Investor contact: (888) 525-0304  Media contact: (281) 210-5253  

SOURCE: Ovintiv Inc.

Ovintiv Inc. 1

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Document and Entity Information	Oct. 13, 2020
Cover [Abstract]
Document Type	8-K
Amendment Flag	false
Document Period End Date	Oct. 13, 2020
Entity Registrant Name	Ovintiv Inc.
Entity Central Index Key	0001792580
Entity Emerging Growth Company	false
Entity File Number	001-39191
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	84-4427672
Entity Address, Address Line One	Suite 1700
Entity Address, Address Line Two	370 - 17th Street
Entity Address, City or Town	Denver
Entity Address, State or Province	CO
Entity Address, Postal Zip Code	80202
City Area Code	(303)
Local Phone Number	623-2300
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Security 12b Title	Common Stock, par value $0.01 per share
Trading Symbol	OVV
Security Exchange Name	NYSE