Encana shareholders agree, move to US under new name approved

By Luke Geiver | January 14, 2020

What was once Encana Corp., a Canadian-based exploration and production company with operations throughout North America, is now Ovintiv. The company’s shareholders agreed to a reorganization plan that will change the company’s name, and more importantly, leadership said, will move the company into the U.S. where it can access greater pools of capital.

Ovintiv will continue to focus on its massive development plans in the Delaware Basin where many in the industry have been following the operators attempts to develop, construct and operate megapads.

“With 90 percent of our securityholders voting "FOR" the resolution, there is clearly support for our efforts to expose Ovintiv to the deeper pools of capital in the U.S.—capturing the value we know exists within our equity," said CEO Doug Suttles. "We will continue to focus on innovation and efficiencies throughout our operations, delivering the financial and operational performance our shareholders expect."

Details of the move to the U.S., headquarter plans and other changes were not yet released.