Share Capital (Tables)

3 Months Ended

Mar. 31, 2026

Class of Stock Disclosures [Abstract]

Schedule of Common Stock Issued and Outstanding


	As at					As at
	March 31, 2026					December 31, 2025
	Number					Number
	(millions)			Amount		(millions)			Amount

Shares of Common Stock Outstanding, Beginning of Year		253.3		$	3		260.4		$	3
Shares of Common Stock Purchased		(1.5	)		-		(7.8	)		-
Shares of Common Stock Issued		30.9			-		0.7			-
Shares of Common Stock Outstanding, End of Period		282.7		$	3		253.3		$	3

Earnings Per Common Share

The following table presents the calculation of net earnings (loss) per share of common stock:


	Three Months Ended
	March 31,
(US$ millions, except per share amounts)	2026			2025

Net Earnings (Loss)	$	(630	)	$	(159	)

Number of Shares of Common Stock:
Weighted average shares of common stock outstanding - Basic		268.2			260.4
Effect of dilutive securities (1)		-			-
Weighted Average Shares of Common Stock Outstanding - Diluted		268.2			260.4

Net Earnings (Loss) per Share of Common Stock
Basic	$	(2.35	)	$	(0.61	)
Diluted (1)		(2.35	)		(0.61	)

(1)

For the three months ended March 31, 2026, and 2025, all of Ovintiv’s equity-settled awards were determined to be antidilutive and therefore excluded from the calculation of fully diluted net earnings (loss) per share of common stock.