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Only a few years ago, natural gas made up about 95% of OVV’s output. However, the company has successfully repositioned its asset base and transitioned to crude, which is more profitable. A considerable portion of the firm’s output comes from three positions in North America.
This includes Montney in British Columbia and Alberta, Anadarko Basin in Oklahoma, and the Permian Basin in New Mexico. Its portfolio also includes acreage in North Dakota’s Bakken Shale, plus Eagle Ford in Texas. These are some of the most cost-advantaged shales in North America, with substantial opportunities for profitable drilling at current commodity prices.
