Ovintiv Inc. balanced its focus between its Permian Basin program and maximizing earnings from its Montney Shale assets during 1Q2023, exceeding production expectations and increasing revenue despite falling U.S. natural gas prices during the quarter.

The Denver-based company made good on its word from the previous quarter about its goal to make Permian growth in West Texas a top priority. COO Greg Givens, during a recent call with investors, said the company’s focus on efficiency and well returns in the liquids-rich basin helped it record another banner quarter for oil volumes.

“In our business, time is money, and these achievements mean we spend fewer days on location with less downtime, improving our capital efficiency and reducing our cost,” Givens said.

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