Encana : Supplemental Information for the period ended March 31, 2020

Ovintiv Inc.

Interim Supplemental Information (unaudited)

For the period ended March 31, 2020

U.S. Dollars / U.S. Protocol

First quarter report

for the period ended March 31, 2020

Supplemental Financial Information (unaudited)

Financial Results

	2020			2019
(US$ millions, unless otherwise specified)	Q1	Year	Q4	Q3	Q2	Q1
Net Earnings (Loss)	421	234	(6)	149	336	(245)
Per share - basic and diluted (1)	1.62	0.90	(0.02)	0.56	1.22	(1.00)
Non-GAAP Operating Earnings (Loss) (2)	27	860	210	195	290	165
Per share - basic and diluted (1)	0.10	3.29	0.81	0.74	1.05	0.68
Non-GAAP Cash Flow (3)	535	2,931	815	817	877	422
Per share - basic and diluted (1)	2.06	11.22	3.14	3.09	3.18	1.73
Effective Tax Rate calculated using
United States Federal Statutory Rate (4)	21.0%	26.6%
Foreign Exchange Rates (US$ per C$1)
Average	0.744	0.754	0.758	0.757	0.748	0.752
Period end	0.705	0.770	0.770	0.755	0.764	0.748
Non-GAAP Operating Earnings Summary
Net Earnings (Loss)	421	234	(6)	149	336	(245)
Before-tax (Addition) Deduction:
Unrealized gain (loss) on risk management	904	(730)	(345)	(41)	83	(427)
Impairments	(277)	-	-	-	-	-
Restructuring charges	-	(138)	(4)	(4)	(17)	(113)
Non-operating foreign exchange gain (loss)	(104)	94	52	(41)	46	37
Gain (loss) on divestitures	-	3	(1)	5	-	(1)
Gain on debt retirement	11	-	-	-	-	-
	534	(771)	(298)	(81)	112	(504)
Income tax	(140)	145	82	35	(66)	94
After-tax (Addition) Deduction	394	(626)	(216)	(46)	46	(410)
Non-GAAP Operating Earnings (Loss) (2)	27	860	210	195	290	165
Non-GAAP Cash Flow Summary
Cash From (Used in) Operating Activities	566	2,921	730	756	906	529
(Add back) Deduct:
Net change in other assets and liabilities	(52)	(97)	(42)	(29)	(15)	(11)
Net change in non-cash working capital	83	87	(43)	(32)	44	118
Current tax on sale of assets	-	-	-	-	-	-
Non-GAAP Cash Flow (3)	535	2,931	815	817	877	422
Non-GAAP Cash Flow Margin ($/BOE) (5)	10.29	14.21	14.95	14.67	16.27	10.02

1. Net Earnings (Loss),Non-GAAP Operating Earnings (Loss) and Non-GAAP Cash Flow per share are presented on a post-Share Consolidation basis (see Note 1 of the interim Condensed Consolidated Financial Statements included in Part 1, Item 1 of Ovintiv's Quarterly Report on Form 10-Q) and are calculated using the weighted average number of shares of common stock outstanding as follows:

	2020			2019
(millions)	Q1	Year	Q4	Q3	Q2	Q1
Weighted Average Shares of Common Stock Outstanding
Basic	259.8	261.2	259.8	264.6	276.2	244.3
Diluted	259.8	261.2	259.8	264.6	276.2	244.3

1. Non-GAAPOperating Earnings (Loss) is a non-GAAP measure defined as net earnings (loss) excluding non-recurring or non-cash items that Management believes reduces the comparability of the Company's financial performance between periods. These items may include, but are not limited to, unrealized gains/losses on risk management, impairments, restructuring charges, non-operating foreign exchange gains/losses, gains/losses on divestitures and gains on debt retirement. Income taxes may include valuation allowances and the provision related to the pre-tax items listed, as well as income taxes related to divestitures and U.S. tax reform, and adjustments to normalize the effect of income taxes calculated using the estimated annual effective income tax rate.
2. Non-GAAPCash Flow is a non-GAAP measure defined as cash from (used in) operating activities excluding net change in other assets and liabilities, net change in non-cash working capital and current tax on sale of assets.
3. Following the U.S. Domestication (see Note 1 of the interim Condensed Consolidated Financial Statements included in Part 1, Item 1 of Ovintiv's Quarterly Report on Form10-Q), the applicable statutory rate became the United States federal income tax rate. The 2019 statutory rate represents the Canadian federal and provincial statutory income tax rate.
4. Non-GAAPCash Flow Margin is a non-GAAP measure calculated as Non-GAAP Cash Flow per BOE of production.

Ovintiv Inc.

1

Supplemental Information (prepared in US$)

First quarter report

for the period ended March 31, 2020

Supplemental Operating Information (unaudited)

Financial Metrics
	2020	2019
	Q1	Year
Debt to Adjusted Capitalization (1)	28%	28%
Net Debt to Adjusted EBITDA (1) (2)	2.0x	2.0x

1. These financial metrics arenon-GAAP measures monitored by Management as indicators of the Company's overall financial strength. These non-GAAP measures are defined and calculated in the Non-GAAP Definitions and Reconciliations document located on the Company's website.
2. Adjusted EBITDA for 2019 includes Newfield's results of operations for thepost-acquisition period from February 14, 2019 to December 31, 2019.

Production Volumes by Product
		2020			2019
	% of
(average)	Oil & NGLs	Q1	Year	Q4	Q3	Q2	Q1
Oil (Mbbls/d)	52	162.5	164.4	172.9	178.8	179.3	125.8
NGLs - Plant Condensate (Mbbls/d)	17	52.7	52.9	52.9	58.5	55.3	44.9
Oil & Plant Condensate (Mbbls/d)	69	215.2	217.3	225.8	237.3	234.6	170.7
Butane (Mbbls/d)	7	21.6	20.1	22.2	21.6	21.2	15.6
Propane (Mbbls/d)	12	35.2	31.8	35.9	34.8	32.7	23.7
Ethane (Mbbls/d)	12	37.8	32.7	38.1	35.5	35.5	21.4
NGLs - Other (Mbbls/d)	31	94.6	84.6	96.2	91.9	89.4	60.7
Oil & NGLs (Mbbls/d)	100	309.8	301.9	322.0	329.2	324.0	231.4
Natural Gas (MMcf/d)		1,569	1,577	1,624	1,655	1,607	1,421
Total (MBOE/d)		571.3	564.9	592.6	605.1	591.8	468.2
Production Volumes by Segment
		2020			2019
(average)		Q1	Year	Q4	Q3	Q2	Q1
Oil (Mbbls/d)
USA Operations		161.7	162.3	172.2	177.6	175.7	123.2
Canadian Operations		0.8	0.6	0.7	0.7	0.2	0.3
China Operations (1)		-	1.5	-	0.5	3.4	2.3
		162.5	164.4	172.9	178.8	179.3	125.8
NGLs - Plant Condensate (Mbbls/d)
USA Operations		11.0	10.5	12.1	12.6	11.2	6.2
Canadian Operations		41.7	42.4	40.8	45.9	44.1	38.7
		52.7	52.9	52.9	58.5	55.3	44.9
NGLs - Other (Mbbls/d)
USA Operations		77.5	67.9	77.8	74.9	73.6	44.6
Canadian Operations		17.1	16.7	18.4	17.0	15.8	16.1
		94.6	84.6	96.2	91.9	89.4	60.7
NGLs - Total (Mbbls/d)
USA Operations		88.5	78.4	89.9	87.5	84.8	50.8
Canadian Operations		58.8	59.1	59.2	62.9	59.9	54.8
		147.3	137.5	149.1	150.4	144.7	105.6
Oil & NGLs (Mbbls/d)
USA Operations		250.2	240.7	262.1	265.1	260.5	174.0
Canadian Operations		59.6	59.7	59.9	63.6	60.1	55.1
China Operations (1)		-	1.5	-	0.5	3.4	2.3
		309.8	301.9	322.0	329.2	324.0	231.4
Natural Gas (MMcf/d)
USA Operations		568	547	581	617	619	367
Canadian Operations		1,001	1,030	1,043	1,038	988	1,054
		1,569	1,577	1,624	1,655	1,607	1,421
Total (MBOE/d)
USA Operations		344.8	331.9	359.0	367.9	363.6	235.2
Canadian Operations		226.5	231.5	233.6	236.7	224.8	230.7
China Operations (1)		-	1.5	-	0.5	3.4	2.3
		571.3	564.9	592.6	605.1	591.8	468.2

1. The Company terminated its production sharing contract with China National Offshore Oil Corporation ("CNOOC") and exited its China Operations effective July 31, 2019. Production from China Operations is presented for the period from February 14, 2019 through July 31, 2019.

Ovintiv Inc.

2

Supplemental Information (prepared in US$)

First quarter report

for the period ended March 31, 2020

Supplemental Financial & Operating Information (unaudited)

Results of Operations

Revenues and Realized Gains (Losses) on Risk Management
		2020			2019
(US$ millions)	Q1	Year	Q4	Q3	Q2	Q1
USA Operations
Revenues, excluding Realized Gains (Losses) on Risk Management (1)
	Oil	641	3,329	877	903	945	604
	NGLs (2)	86	452	121	99	136	96
	Natural Gas	73	380	103	96	105	76
		800	4,161	1,101	1,098	1,186	776
Realized Gains (Losses) on Risk Management
	Oil	82	68	12	10	15	31
	NGLs (2)	5	48	13	16	13	6
	Natural Gas	26	36	4	7	12	13
		113	152	29	33	40	50
Canadian Operations
Revenues, excluding Realized Gains (Losses) on Risk Management (1)
	Oil	2	10	4	3	2	1
	NGLs (2)	178	870	217	223	228	202
	Natural Gas	171	756	209	147	153	247
		351	1,636	430	373	383	450
Realized Gains (Losses) on Risk Management
	Oil	-	-	-	-	-	-
	NGLs (2)	23	67	17	21	12	17
	Natural Gas	13	144	20	66	55	3
		36	211	37	87	67	20
China Operations (3)
Revenues, excluding Realized Gains (Losses) on Risk Management (1)
	Oil	-	37	-	3	21	13
		-	37	-	3	21	13

1. Excludes other revenues with no associated production volumes, but includes intercompany marketing fees transacted between the Company's operating segments.
2. Includes plant condensate.
3. The Company terminated its production sharing contract with CNOOC and exited its China Operations effective July 31, 2019. Results from China Operations are presented for the period from February 14, 2019 through July 31, 2019. There were no realized gains (losses) on risk management associated with China Operations for the twelve months ended December 31, 2019.

Ovintiv Inc.

3

Supplemental Information (prepared in US$)

First quarter report

for the period ended March 31, 2020

Supplemental Financial & Operating Information (unaudited)

Results of Operations (continued)

Per-unit Results, Excluding the Impact of Realized Gains (Losses) on Risk Management (1)
	2020			2019
(US$/BOE)	Q1	Year	Q4	Q3	Q2	Q1
Total USA Operations Netback
Price	25.46	34.36	33.38	32.43	35.85	36.63
Production, mineral and other taxes	1.55	1.96	1.88	1.85	2.07	2.08
Transportation and processing	3.84	3.85	3.81	3.72	4.09	3.74
Operating	4.42	4.65	4.50	4.48	4.46	5.44
Netback	15.65	23.90	23.19	22.38	25.23	25.37
Total Canadian Operations Netback
Price	16.98	19.35	19.97	17.12	18.72	21.67
Production, mineral and other taxes	0.19	0.19	0.22	0.15	0.22	0.18
Transportation and processing	10.29	10.16	10.18	9.68	10.60	10.20
Operating	1.26	1.46	1.32	1.45	1.27	1.80
Netback	5.24	7.54	8.25	5.84	6.63	9.49
Total China Operations Netback (2)
Price	-	66.37	-	60.35	67.84	65.62
Production, mineral and other taxes	-	0.90	-	5.53	0.53	0.33
Transportation and processing	-	-	-	-	-	-
Operating	-	27.79	-	66.11	27.68	17.93
Netback	-	37.68	-	(11.29)	39.63	47.36
Total Operations Netback
Price	22.10	28.29	28.09	26.46	29.52	29.39
Production, mineral and other taxes	1.01	1.23	1.23	1.18	1.36	1.14
Transportation and processing	6.40	6.42	6.32	6.05	6.54	6.90
Operating	3.17	3.41	3.26	3.35	3.39	3.70
Netback	11.52	17.23	17.28	15.88	18.23	17.65

1. Netback is a common metric used in the oil and gas industry to measure operating performance on aper-unit basis and is considered a non-GAAP measure. The netbacks disclosed above do not meet the requirements outlined in National Instrument 51-101 and have been calculated on a BOE basis using upstream product revenues, excluding the impact of realized gains and losses on risk management, less costs associated with delivering the product to market, including production, mineral and other taxes, transportation and processing expense and operating expense. For additional information regarding non-GAAP measures, including Netback reconciliations, see the Company's website.
2. The Company terminated its production sharing contract with CNOOC and exited its China Operations effective July 31, 2019. Results from China Operations are presented for the period from February 14, 2019 through July 31, 2019.

Other Per-unit Results
	2020			2019
(US$/BOE)	Q1	Year	Q4	Q3	Q2	Q1
Upstream Operating Expense	3.17	3.41	3.26	3.35	3.39	3.70
Upstream Operating Expense, Excluding Long-Term Incentive Costs	3.34	3.35	3.22	3.34	3.40	3.48
Administrative Expense (1)	1.02	2.37	1.82	1.46	1.51	5.38
Administrative Expense, Excluding Long-Term Incentive Costs,
Restructuring Costs and Current Expected Credit Losses	1.42	1.59	1.65	1.38	1.48	1.92
Total Costs (2)	12.17	12.59	12.42	11.95	12.78	13.44

1. No restructuring costs have been incurred in 2020.
2. Total Costs per BOE is anon-GAAP measure defined as the summation of production, mineral and other taxes, upstream transportation and processing expense, upstream operating expense and administrative expense, excluding the impact of long-term incentive costs, restructuring costs and current expected credit losses, per BOE of production.

Ovintiv Inc.

4

Supplemental Information (prepared in US$)

First quarter report

for the period ended March 31, 2020

Supplemental Oil and Gas Operating Statistics (unaudited)

Operating Statistics

Per-unit Prices, Excluding the Impact of Realized Gains (Losses) on Risk Management
	2020			2019
(US$)	Q1	Year	Q4	Q3	Q2	Q1
Oil Price ($/bbl)
USA Operations	43.49	56.19	55.42	55.26	59.12	54.42
Canadian Operations	38.95	53.19	56.12	58.24	53.31	37.31
China Operations (1)	-	66.37	-	60.35	67.84	65.62
Total Operations	43.47	56.27	55.43	55.29	59.27	54.57
NGLs - Plant Condensate Price ($/bbl)
USA Operations	34.54	44.05	44.35	41.70	46.65	43.62
Canadian Operations	43.99	51.79	51.95	50.73	54.66	49.61
Total Operations	42.02	50.25	50.22	48.78	53.04	48.79
NGLs - Other Price ($/bbl)
USA Operations	7.33	11.44	10.05	7.48	13.19	17.81
Canadian Operations	6.97	11.11	12.29	5.39	6.95	20.11
Total Operations	7.27	11.37	10.47	7.09	12.09	18.41
NGLs - Total Price ($/bbl)
USA Operations	10.70	15.83	14.65	12.42	17.60	20.95
Canadian Operations	33.22	40.25	39.70	38.43	42.07	40.98
Total Operations	19.69	26.33	24.59	23.30	27.72	31.34
Oil & NGLs Price ($/bbl)
USA Operations	31.90	43.04	41.43	41.12	45.60	44.64
Canadian Operations	33.29	40.36	39.90	38.65	42.12	40.95
China Operations (1)	-	66.37	-	60.35	67.84	65.62
Total Operations	32.16	42.63	41.15	40.67	45.19	43.97
Natural Gas Price ($/Mcf)
USA Operations	1.41	1.90	1.93	1.67	1.87	2.31
Canadian Operations	1.86	2.01	2.18	1.54	1.70	2.60
Total Operations	1.70	1.97	2.09	1.59	1.76	2.53
Total Price ($/BOE)
USA Operations	25.46	34.36	33.38	32.43	35.85	36.63
Canadian Operations	16.98	19.35	19.97	17.12	18.72	21.67
China Operations (1)	-	66.37	-	60.35	67.84	65.62
Total Operations	22.10	28.29	28.09	26.46	29.52	29.39

1. The Company terminated its production sharing contract with CNOOC and exited its China Operations effective July 31, 2019. Results from China Operations are presented for the period from February 14, 2019 through July 31, 2019.

Ovintiv Inc.

5

Supplemental Information (prepared in US$)

First quarter report

for the period ended March 31, 2020

Supplemental Oil and Gas Operating Statistics (unaudited)

Operating Statistics (continued)

Per-unit Impact of Realized Gains (Losses) on Risk Management
	2020			2019
(US$)	Q1	Year	Q4	Q3	Q2	Q1
Oil ($/bbl)
USA Operations	5.54	1.14	0.74	0.63	0.89	2.83
Canadian Operations	-	-	-	-	-	-
Total Operations	5.52	1.13	0.74	0.63	0.87	2.77
NGLs - Plant Condensate ($/bbl)
USA Operations	-	-	-	-	-	-
Canadian Operations	6.04	2.12	2.35	2.25	0.66	3.39
Total Operations	4.78	1.70	1.81	1.77	0.53	2.92
NGLs - Other ($/bbl)
USA Operations	0.76	1.93	1.77	2.30	1.90	1.65
Canadian Operations	-	5.64	5.25	7.57	6.19	3.44
Total Operations	0.62	2.67	2.43	3.28	2.66	2.12
NGLs - Total ($/bbl)
USA Operations	0.67	1.67	1.53	1.97	1.65	1.45
Canadian Operations	4.28	3.12	3.25	3.70	2.12	3.41
Total Operations	2.11	2.30	2.21	2.69	1.85	2.46
Oil & NGLs ($/bbl)
USA Operations	3.82	1.31	1.01	1.07	1.14	2.43
Canadian Operations	4.22	3.09	3.21	3.66	2.11	3.38
Total Operations	3.90	1.66	1.42	1.57	1.31	2.63
Natural Gas ($/Mcf)
USA Operations	0.50	0.19	0.09	0.13	0.21	0.39
Canadian Operations	0.15	0.38	0.20	0.69	0.61	0.03
Total Operations	0.27	0.31	0.16	0.48	0.46	0.13
Total ($/BOE)
USA Operations	3.59	1.26	0.89	0.99	1.16	2.41
Canadian Operations	1.75	2.50	1.72	4.01	3.26	0.96
Total Operations	2.86	1.76	1.22	2.17	1.96	1.68

Ovintiv Inc.

6

Supplemental Information (prepared in US$)

First quarter report

for the period ended March 31, 2020

Supplemental Oil and Gas Operating Statistics (unaudited)

Operating Statistics (continued)

Per-unit Results, Including the Impact of Realized Gains (Losses) on Risk Management
	2020			2019
(US$)	Q1	Year	Q4	Q3	Q2	Q1
Oil Price ($/bbl)
USA Operations	49.03	57.33	56.16	55.89	60.01	57.25
Canadian Operations	38.95	53.19	56.12	58.24	53.31	37.31
China Operations (1)	-	66.37	-	60.35	67.84	65.62
Total Operations	48.99	57.40	56.17	55.92	60.14	57.34
NGLs - Plant Condensate Price ($/bbl)
USA Operations	34.54	44.05	44.35	41.70	46.65	43.62
Canadian Operations	50.03	53.91	54.30	52.98	55.32	53.00
Total Operations	46.80	51.95	52.03	50.55	53.57	51.71
NGLs - Other Price ($/bbl)
USA Operations	8.09	13.37	11.82	9.78	15.09	19.46
Canadian Operations	6.97	16.75	17.54	12.96	13.14	23.55
Total Operations	7.89	14.04	12.90	10.37	14.75	20.53
NGLs - Total Price ($/bbl)
USA Operations	11.37	17.50	16.18	14.39	19.25	22.40
Canadian Operations	37.50	43.37	42.95	42.13	44.19	44.39
Total Operations	21.80	28.63	26.80	25.99	29.57	33.80
Oil & NGLs Price ($/bbl)
USA Operations	35.72	44.35	42.44	42.19	46.74	47.07
Canadian Operations	37.51	43.45	43.11	42.31	44.23	44.33
China Operations (1)	-	66.37	-	60.35	67.84	65.62
Total Operations	36.06	44.29	42.57	42.24	46.50	46.60
Natural Gas Price ($/Mcf)
USA Operations	1.91	2.09	2.02	1.80	2.08	2.70
Canadian Operations	2.01	2.39	2.38	2.23	2.31	2.63
Total Operations	1.97	2.28	2.25	2.07	2.22	2.66
Total Price ($/BOE)
USA Operations	29.05	35.62	34.27	33.42	37.01	39.04
Canadian Operations	18.73	21.85	21.69	21.13	21.98	22.63
China Operations (1)	-	66.37	-	60.35	67.84	65.62
Total Operations	24.96	30.05	29.31	28.63	31.48	31.07
Total Netback ($/BOE)
USA Operations	19.24	25.16	24.08	23.37	26.39	27.78
Canadian Operations	6.99	10.04	9.97	9.85	9.89	10.45
China Operations (1)	-	37.68	-	(11.29)	39.63	47.36
Total Operations	14.38	18.99	18.50	18.05	20.19	19.33

1. The Company terminated its production sharing contract with CNOOC and exited its China Operations effective July 31, 2019. Results from China Operations are presented for the period from February 14, 2019 through July 31, 2019.

Ovintiv Inc.

7

Supplemental Information (prepared in US$)

First quarter report

for the period ended March 31, 2020

Supplemental Oil and Gas Operating Statistics (unaudited)

Results by Play

		2020			2019
(average)	Q1	Year	Q4	Q3	Q2	Q1
Oil Production (Mbbls/d)
USA Operations (1)
Permian	64.3	64.7	66.4	68.1	65.1	59.3
Anadarko	46.7	44.4	49.9	50.0	53.6	23.7
Other Upstream Operations (2)
	Eagle Ford	19.8	25.3	23.7	26.7	25.2	25.5
	Bakken	18.4	14.0	18.1	17.0	14.6	6.2
	Uinta	12.5	13.9	14.4	15.4	17.2	8.4
	Other	-	-	(0.3)	0.4	-	0.1
Total USA Operations	161.7	162.3	172.2	177.6	175.7	123.2
Canadian Operations
Montney	0.2	0.2	0.1	0.1	0.2	0.2
Other Upstream Operations (2)
	Duvernay	0.6	0.4	0.6	0.6	-	0.1
	Other	-	-	-	-	-	-
Total Canadian Operations	0.8	0.6	0.7	0.7	0.2	0.3
Total China Operations (1)	-	1.5	-	0.5	3.4	2.3
Total	162.5	164.4	172.9	178.8	179.3	125.8
NGLs - Plant Condensate Production (Mbbls/d)
USA Operations (1)
Permian	2.3	2.3	2.6	2.9	2.4	1.5
Anadarko	6.9	6.0	7.2	7.3	6.5	3.1
Other Upstream Operations (2)
	Eagle Ford	0.9	1.3	1.4	1.3	1.4	1.3
	Bakken	0.7	0.6	0.7	0.8	0.6	0.2
	Uinta	0.1	0.2	0.2	0.3	0.2	-
	Other	0.1	0.1	-	-	0.1	0.1
Total USA Operations	11.0	10.5	12.1	12.6	11.2	6.2
Canadian Operations
Montney	37.0	36.4	35.0	38.4	38.7	33.3
Other Upstream Operations (2)
	Duvernay	4.7	6.0	5.8	7.4	5.4	5.4
	Other	-	-	-	0.1	-	-
Total Canadian Operations	41.7	42.4	40.8	45.9	44.1	38.7
Total	52.7	52.9	52.9	58.5	55.3	44.9

1. Production from legacy Newfield assets is presented beginning February 14, 2019. Subsequent to the business combination, the Company terminated its production sharing contract with CNOOC and exited its China Operations effective July 31, 2019. Production from China Operations is presented for the period from February 14, 2019 through July 31, 2019.
2. Other Upstream Operations includes production volumes from plays that are not part of the Company's current strategic focus.

Ovintiv Inc.

8

Supplemental Information (prepared in US$)

First quarter report

for the period ended March 31, 2020

Supplemental Oil and Gas Operating Statistics (unaudited)

Results by Play (continued)

		2020			2019
(average)	Q1	Year	Q4	Q3	Q2	Q1
NGLs - Other Production (Mbbls/d)
USA Operations (1)
Permian	22.1	20.0	22.3	21.7	19.5	16.0
Anadarko	46.2	38.3	45.0	43.2	44.2	20.4
Other Upstream Operations (2)
	Eagle Ford	4.7	5.9	5.5	5.8	5.7	6.4
	Bakken	3.9	3.1	4.3	3.4	3.2	1.4
	Uinta	0.5	0.5	0.5	0.6	0.8	0.3
	Other	0.1	0.1	0.2	0.2	0.2	0.1
Total USA Operations	77.5	67.9	77.8	74.9	73.6	44.6
Canadian Operations
Montney	15.3	15.5	16.4	15.3	15.4	15.3

Other Upstream Operations (2)
Duvernay	1.8
Other	-
Total Canadian Operations	17.1
Total	94.6
NGLs - Total Production (Mbbls/d)
USA Operations (1)
Permian	24.4
Anadarko	53.1
Other Upstream Operations (2)
Eagle Ford	5.6
Bakken	4.6
Uinta	0.6
Other	0.2
Total USA Operations	88.5

Canadian Operations
Montney	52.3

1.2	2.0	1.8	0.4	0.8
-	-	(0.1)	-	-
16.7	18.4	17.0	15.8	16.1
84.6	96.2	91.9	89.4	60.7

22.3	24.9	24.6	21.9	17.5
44.3	52.2	50.5	50.7	23.5
7.2	6.9	7.1	7.1	7.7
3.7	5.0	4.2	3.8	1.6
0.7	0.7	0.9	1.0	0.3
0.2	0.2	0.2	0.3	0.2
78.4	89.9	87.5	84.8	50.8
51.9	51.4	53.7	54.1	48.6

Other Upstream Operations (2)
	Duvernay	6.5	7.2	7.8	9.2	5.8	6.2
	Other	-	-	-	-	-	-
Total Canadian Operations	58.8	59.1	59.2	62.9	59.9	54.8
Total	147.3	137.5	149.1	150.4	144.7	105.6

1. Production from legacy Newfield assets is presented beginning February 14, 2019.
2. Other Upstream Operations includes production volumes from plays that are not part of the Company's current strategic focus.

Ovintiv Inc.

9

Supplemental Information (prepared in US$)

First quarter report

for the period ended March 31, 2020

Supplemental Oil and Gas Operating Statistics (unaudited)

Results by Play (continued)

		2020			2019
(average)	Q1	Year	Q4	Q3	Q2	Q1
Oil & NGLs Production (Mbbls/d)
USA Operations (1)
Permian	88.7	87.0	91.3	92.7	87.0	76.8
Anadarko	99.8	88.7	102.1	100.5	104.3	47.2
Other Upstream Operations (2)
	Eagle Ford	25.4	32.5	30.6	33.8	32.3	33.2
	Bakken	23.0	17.7	23.1	21.2	18.4	7.8
	Uinta	13.1	14.6	15.1	16.3	18.2	8.7
	Other	0.2	0.2	(0.1)	0.6	0.3	0.3
Total USA Operations	250.2	240.7	262.1	265.1	260.5	174.0
Canadian Operations
Montney	52.5	52.1	51.5	53.8	54.3	48.8
Other Upstream Operations (2)
	Duvernay	7.1	7.6	8.4	9.8	5.8	6.3
	Other	-	-	-	-	-	-
Total Canadian Operations	59.6	59.7	59.9	63.6	60.1	55.1
Total China Operations (1)	-	1.5	-	0.5	3.4	2.3
Total	309.8	301.9	322.0	329.2	324.0	231.4
Natural Gas Production (MMcf/d)
USA Operations (1)
Permian	125	106	125	111	102	87
Anadarko	367	316	369	368	353	172
Other Upstream Operations (2)
	Eagle Ford	35	43	41	42	42	47
	Bakken	26	23	30	26	24	10
	Uinta	12	13	12	15	15	9
	Other	3	46	4	55	83	42
Total USA Operations	568	547	581	617	619	367
Canadian Operations
Montney	913	931	946	937	893	951
Other Upstream Operations (2)
	Duvernay	46	57	57	61	51	61
	Other	42	42	40	40	44	42
Total Canadian Operations	1,001	1,030	1,043	1,038	988	1,054
Total	1,569	1,577	1,624	1,655	1,607	1,421

1. Production from legacy Newfield assets is presented beginning February 14, 2019. Subsequent to the business combination, the Company terminated its production sharing contract with CNOOC and exited its China Operations effective July 31, 2019. Production from China Operations is presented for the period from February 14, 2019 through July 31, 2019.
2. Other Upstream Operations includes production volumes from plays that are not part of the Company's current strategic focus. USA Other primarily included natural gas volumes in Arkoma. Canadian Other primarily includes natural gas volumes in Horn River. Production volumes associated with Arkoma were included in USA Other until the asset was divested on August 27, 2019.

Ovintiv Inc.

10

Supplemental Information (prepared in US$)

First quarter report

for the period ended March 31, 2020

Supplemental Oil and Gas Operating Statistics (unaudited)

Results by Play (continued)

		2020			2019
(average)	Q1	Year	Q4	Q3	Q2	Q1
Total Production (MBOE/d)
USA Operations (1)
Permian	109.6	104.8	112.2	111.1	104.0	91.2
Anadarko	161.0	141.4	163.5	161.8	163.2	75.9
Other Upstream Operations (2)
	Eagle Ford	31.3	39.7	37.4	40.9	39.3	41.0
	Bakken	27.4	21.4	28.1	25.4	22.4	9.4
	Uinta	15.0	16.7	17.2	18.8	20.7	10.2
	Other	0.5	7.9	0.6	9.9	14.0	7.5
Total USA Operations	344.8	331.9	359.0	367.9	363.6	235.2
Canadian Operations
Montney	204.7	207.3	209.1	209.9	203.1	207.3
Other Upstream Operations (2)
	Duvernay	14.8	17.2	17.8	20.0	14.3	16.5
	Other	7.0	7.0	6.7	6.8	7.4	6.9
Total Canadian Operations	226.5	231.5	233.6	236.7	224.8	230.7
Total China Operations (1)	-	1.5	-	0.5	3.4	2.3
Total	571.3	564.9	592.6	605.1	591.8	468.2
Total Production (MBOE/d)
Total Core Assets	475.3	453.5	484.8	482.8	470.3	374.4
% of Total	83%	80%	82%	80%	79%	80%

1. Production from legacy Newfield assets is presented beginning February 14, 2019. Subsequent to the business combination, the Company terminated its production sharing contract with CNOOC and exited its China Operations effective July 31, 2019. Production from China Operations is presented for the period from February 14, 2019 through July 31, 2019.
2. Other Upstream Operations includes total production volumes from plays that are not part of the Company's current strategic focus. USA Other primarily included Arkoma. Canadian Other primarily includes Horn River. Production volumes associated with Arkoma were included in USA Other until the asset was divested on August 27, 2019.

Ovintiv Inc.

11

Supplemental Information (prepared in US$)

First quarter report

for the period ended March 31, 2020

Supplemental Oil and Gas Operating Statistics (unaudited)

Results by Play (continued)

	2020			2019
(US$ millions)	Q1	Year	Q4	Q3	Q2	Q1
Capital Expenditures Excluding Capitalized Overhead Costs
USA Operations (1)
Permian	225	864	195	196	225	248
Anadarko	224	658	141	163	217	137
Other Upstream Operations (2)
Eagle Ford	62	243	22	30	97	94
Bakken	49	134	35	35	43	21
Uinta	27	48	10	8	14	16
Other	-	14	6	(7)	10	5
Total USA Operations	587	1,961	409	425	606	521
Canadian Operations
Montney	150	339	98	70	68	103
Other Upstream Operations (2)
Duvernay	3	88	3	16	34	35
Other	2	(2)	1	2	(1)	(4)
Total Canadian Operations	155	425	102	88	101	134
Total Capital Expenditures Excluding Capitalized Overhead Costs	742	2,386	511	513	707	655
Capitalized Overhead Costs
USA Operations (1)
Permian	17	77	18	15	13	31
Anadarko	11	54	15	15	14	10
Other Upstream Operations (2)
Eagle Ford	4	23	5	4	3	11
Bakken	5	10	3	3	3	1
Uinta	3	3	1	1	1	-
Other	1	6	1	1	1	3
Total USA Operations	41	173	43	39	35	56
Canadian Operations
Montney	5	38	9	8	6	15
Other Upstream Operations (2)
Duvernay	1	12	4	2	1	5
Other	-	5	1	1	-	3
Total Canadian Operations	6	55	14	11	7	23
Total Capitalized Overhead Costs	47	228	57	50	42	79
Total Capital Expenditures
USA Operations (1)
Permian	242	941	213	211	238	279
Anadarko	235	712	156	178	231	147
Other Upstream Operations (2)
Eagle Ford	66	266	27	34	100	105
Bakken	54	144	38	38	46	22
Uinta	30	51	11	9	15	16
Other	1	20	7	(6)	11	8
Total USA Operations	628	2,134	452	464	641	577
Canadian Operations
Montney	155	377	107	78	74	118
Other Upstream Operations (2)
Duvernay	4	100	7	18	35	40
Other	2	3	2	3	(1)	(1)
Total Canadian Operations	161	480	116	99	108	157
Market Optimization	-	2	-	2	-	-
Corporate & Other	1	10	6	1	1	2
Total Capital Expenditures	790	2,626	574	566	750	736
Net Acquisitions & (Divestitures)	(5)	(132)	(21)	(146)	15	20
Net Capital Investment	785	2,494	553	420	765	756

1. Results for legacy Newfield assets are presented beginning February 14, 2019.
2. Other Upstream Operations includes capital expenditures in plays that are not part of the Company's current strategic focus. USA Other primarily included Arkoma. Capital expenditures in Arkoma were included in USA Other until the asset was divested on August 27, 2019.

Ovintiv Inc.

12

Supplemental Information (prepared in US$)

First quarter report

for the period ended March 31, 2020

Supplemental Oil and Gas Operating Statistics (unaudited)

Results by Play (continued)

		2020			2019
		Q1	Year	Q4	Q3	Q2	Q1
Drilling Activity (net wells drilled)
USA Operations (1)
Permian	32	114	30	27	30	27
Anadarko	37	74	23	19	20	12
Other Upstream Operations (2)
	Eagle Ford	15	33	1	3	16	13
	Bakken	7	12	1	3	6	2
	Uinta	5	2	-	-	1	1
	Other	-	1	-	-	1	-
Total USA Operations	96	236	55	52	74	55
Canadian Operations
Montney	28	84	26	11	25	22
Other Upstream Operations (2)
	Duvernay	1	7	-	1	3	3
	Other	-	1	1	-	-	-
Total Canadian Operations	29	92	27	12	28	25
Total	125	328	82	64	102	80
Completions Activity (net wells on production)
USA Operations (1)
Permian	37	119	18	30	38	33
Anadarko	27	115	25	15	49	26
Other Upstream Operations (2)
	Eagle Ford	5	39	-	12	13	14
	Bakken	7	17	3	4	10	-
	Uinta	-	5	2	-	3	-
	Other	-	1	-	-	1	-
Total USA Operations	76	296	48	61	114	73
Canadian Operations
Montney	28	78	8	23	32	15
Other Upstream Operations (2)
	Duvernay	-	8	-	6	1	1
	Other	-	-	-	-	-	-
Total Canadian Operations	28	86	8	29	33	16
Total	104	382	56	90	147	89

1. Results for legacy Newfield assets are presented beginning February 14, 2019.
2. Other Upstream Operations includes net wells drilled and net wells on production in plays that are not part of the Company's current strategic focus. USA Other primarily included Arkoma. Net wells drilled and net wells on production in Arkoma were included in USA Other until the asset was divested on August 27, 2019.

Ovintiv Inc.

13

Supplemental Information (prepared in US$)