NuVista Energy Shareholder Meeting Recommends Approving Arrangement
NuVista Energy announced that independent proxy advisory firm, including Institutional Shareholder Services, have recommended shareholders of NuVista vote "FOR" the special resolution approving the Arrangement at the upcoming special meeting of NuVista Shareholders to be held on January 23, 2026 at 8:00 a.m. At the Meeting, NuVista Shareholders will be asked to approve the previously announced plan of arrangement involving NuVista, NuVista Shareholders, Ovintiv Inc. and a wholly-owned subsidiary of Ovintiv, Ovintiv Canada ULC. Under the terms of the Arrangement, NuVista Shareholders shall be entitled to elect to receive, in exchange for their shares of NuVista: $18.00 in cash per NuVista Share; 0.344 of a share in the common stock of Ovintiv per NuVista Share; or a combination of Cash Consideration and Share Consideration for their NuVista Shares, subject to rounding and proration based on the maximum aggregate Cash Consideration and the maximum aggregate Share Consideration set forth in the Arrangement Agreement. In issuing its endorsement in the report dated January 9, 2026, ISS lauded the sales process and negotiations that generated increased consideration with a larger cash component, and a valuation that "exceeds historical market prices over the last 15 years" as key factors in arriving at their positive recommendation.
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Ovintiv Appoints New Board Member
- New Board Member: Ovintiv announced the appointment of Gregory P. Hill as an independent director effective January 30, 2026, whose extensive experience at Hess Corporation is expected to provide strategic guidance to the company.
- Extensive Industry Background: Hill brings over four decades of experience in the energy sector, having held senior leadership roles at Hess, Shell, and Aera Energy, managing significant portfolios across key global markets.
- Contributions to Operational Excellence: During his tenure at Hess, Hill led major portfolio transformations and operational excellence initiatives, driving significant growth in critical regions such as Guyana, the Bakken, and the Gulf of Mexico, showcasing his market expansion capabilities.
- Academic Background and Honors: Hill holds a Bachelor of Science in Mechanical Engineering from the University of Wyoming and received an Honorary Doctorate from the same institution in 2024, reflecting his outstanding achievements in both technical and academic fields.
Ovintiv Appoints Gregory P. Hill as Independent Board Member
- New Board Member: Ovintiv announced that Gregory P. Hill will join as an independent director effective January 30, 2026, bringing over 40 years of experience in the energy sector, which is expected to provide strategic guidance and technical expertise to the company.
- Extensive Industry Background: Hill previously served as President of Worldwide Exploration & Production at Hess Corporation, where he oversaw significant portfolio transformations and operational excellence, particularly in key growth regions such as Guyana, the Bakken, and the Gulf of Mexico.
- Academic Achievements: Hill holds a Bachelor of Science in Mechanical Engineering (with honors) from the University of Wyoming and received an Honorary Doctorate from the same institution in 2024, showcasing his excellence in both technical and academic fields.
- Chairman's Remarks: Ovintiv Chairman Peter Dea stated that Hill's technical expertise and operational leadership will provide significant insights to the board, aiding the company in enhancing long-term shareholder value.
