Private investor Kimmeridge Energy Management Co., which owns a 2.5% stake in Ovintiv Inc., has nominated three people to stand for board election as Kimmeridge looks to upend oversight of the Denver-based independent.

ovintiv

Earlier this month Kimmeridge warned Ovintiv that the exploration and production (E&P) company needed to improve performance or face a reckoning. 

“Given the track record of value destruction at Ovintiv, the company requires the stewardship of a strong board…that can restore confidence in the shareholder base and hold management accountable,” said Kimmeridge managing partner Mark Viviano, head of Public Equities.

“Despite our best efforts to engage constructively with the company, the board was dismissive of our recommendations to help position Ovintiv as...