{"id":414927,"date":"2021-01-14T08:38:28","date_gmt":"2021-01-14T13:38:28","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=414927"},"modified":"2021-01-14T08:38:28","modified_gmt":"2021-01-14T13:38:28","slug":"kimmeridge-publishes-presentation-ovintiv-a-track-record-of-value-destruction","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/kimmeridge-publishes-presentation-ovintiv-a-track-record-of-value-destruction\/","title":{"rendered":"Kimmeridge Publishes Presentation: “Ovintiv: A Track Record of Value Destruction”"},"content":{"rendered":"
\n

Ovintiv dramatically underperforms peers and the energy sector<\/h2>\n

Total Shareholder Return of (84.8%) since the current CEO joined in 2013; net debt increased 53% and $12.7B in impairment charges were recorded; CEO awarded over $75M in compensation over the same period<\/h2>\n

CEO and Ovintiv Board own less than 0.2% of shares outstanding(i)<\/h2>\n

Kimmeridge proposes framework for restoring confidence in Ovintiv by addressing deficiencies in capital allocation, governance and environmental stewardship<\/h2>\n

PR Newswire<\/p>\n<\/p><\/div>\n

\n

\n NEW YORK<\/span>, Jan. 14, 2021<\/span> \/PRNewswire\/ — Kimmeridge Energy Management Company, LLC<\/a> (“Kimmeridge”), a private investment firm focused on upstream energy, with an investment philosophy underpinned by fundamental research, today published an investor presentation titled,\u00a0“Ovintiv: A Track Record of Value Destruction.<\/i>“<\/a><\/b>\u00a0<\/b><\/p>\n

In its presentation, Kimmeridge, a top ten shareholder of Ovintiv Inc. (“Ovintiv” or the “Company”) (NYSE: OVV), highlights the Company’s failures of capital allocation, governance and environmental stewardship. Kimmeridge also provides a framework for restoring confidence in Ovintiv, applying the core principles previously outlined in its white papers. Kimmeridge has argued that the E&P sector needs to embrace a new business model focused on: <\/p>\n