![Ovintiv Inc. [OVV] reports annual net loss of $2.1 billion](/_next/image?url=https%3A%2F%2F10kinfo-appdata.s3.us-west-2.amazonaws.com%2Fedgar0105%2FCompanyLogos%2FUS%2FOVV.png&w=3840&q=75)
Ovintiv Inc. [OVV] reports annual net loss of $2.1 billion
Company Reports Revenue of $10.9 billion
Ovintiv Inc. [OVV] has reported a net loss of $2.1 billion for year ended Dec 31, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the year was $10.9 billion
Based in DENVER, Colorado, Ovintiv Inc. operates in the MINING sector.
In the Consolidated Statement of Earnings for the period ending December 31, 2023, the total revenue amounted to $10.883 million, a decrease compared to the previous year's revenue of $12.464 million in 2022. This decrease was primarily driven by lower product and service revenues and losses on risk management.
Operating expenses for the same period totaled $8.019 million, showing a decrease from $8.611 million in 2022. The decrease was attributed to lower production, transportation, and processing costs, as well as reduced administrative expenses.
