Ovintiv shuffles some fourth-quarter spending to Permian basin

Oil & Gas Journal · Geert De Lombaerde · 2026-11-04 00:00 UTC

The $50 million move helps offset the outage of a Canada gas plant and builds on drilling work that’s been running ahead of schedule.

The leaders of Ovintiv Inc., Denver, are diverting $50 million in fourth-quarter capital spending to the operator's Permian basin operations from the Montney to account for an Alberta gas plant being offline.

President and chief executive officer Brendan McCracken and his team told analysts and investors on Nov. 4 that the adjustment to fourth-quarter spending plans should help oil and condensate production in the Permian basin average 125,000 and 130,000 b/d this quarter, in line with the third-quarter's 127,000 b/d.

The $50 million amounts to about 9% of Ovintiv’s planned capex this quarter and will let the company further manage the unplanned outage of CSV Midstream Solutions’ Albright sour gas plant in northern Alberta, which went offline in late July. Greg Givens, Ovintiv’s chief operating officer, said the CSV team has told Ovintiv that Albright should be up and running again before yearend and that Ovintiv has been able to manage the plant’s outage so that the company is only losing out on 3,000 boe/d.

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