Ovintiv Inc. had a solid quarter in terms of production and is raising its guidance on natural gas output for the year.

The Denver-based company sees natural gas production hitting 1.575-1.625 Bcf/d for the year, up from 1.525-1.575 Bcf/d in previous guidance.

The company has assets in the Permian, Uinta and Anadarko Basins, and Canada’s Montney Shale.

“We exceeded the top-end of our guidance on oil, gas and natural gas liquids (NGLs), and we’re coming in below the low-end of guidance for capital,” said CEO Brendan McCracken.

“These results were driven by strong well performance from each asset in our portfolio, successful base decline management on our older vintage wells, tailwinds from lower natural gas royalty rates in the Montney and capital savings from...