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Share Capital and Warrants (Tables) | 12 Months Ended
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Dec. 31, 2024
Disclosure of classes of share capital [abstract] |
Summary of Share Capital | B) Issued and Outstanding – Common Shares
| 2024 |  | 2023
| Number of Common Shares (thousands) |  | Amount |  | Number of Common Shares (thousands) |  | Amount
Outstanding, Beginning of Year | 1,871,868 |  | 16,031 |  | 1,909,190 |  | 16,320
Issued Upon Exercise of Warrants | 3,982 |  | 39 |  | 2,610 |  | 26
Issued Under Stock Option Plans | 5,049 |  | 68 |  | 3,679 |  | 58
Purchase of Common Shares under NCIB | (55,861) |  | (479) |  | (43,611) |  | (373)
Outstanding, End of Year | 1,825,038 |  | 15,659 |  | 1,871,868 |  | 16,031
| 2024 |  |
| Number of Common Shares (thousands) |  | Amount |  |  |  |
Outstanding, Beginning of Year | — |  | — |  |  |  |
Purchase of Common Shares Under Employee Benefit Plan | 2,000 |  | 43 |  |  |  |
Outstanding, End of Year | 2,000 |  | 43 |  |  |  |
| 2024 |  | 2023
| Number of Preferred Shares (thousands) |  | Amount |  | Number of Preferred Shares (thousands) |  | Amount
Outstanding, Beginning of Year | 36,000 |  | 519 |  | 36,000 |  | 519
Preferred Shares Redeemed | (10,000) |  | (163) |  | — |  | —
Outstanding, End of Year | 26,000 |  | 356 |  | 36,000 |  | 519
The Company had the following preferred shares outstanding as at December 31, 2024:
As at December 31, 2024 | Dividend Reset Date |  | Dividend Rate (percent) |  | Number of Preferred Shares (thousands)
Series 1 First Preferred Shares | March 31, 2026 |  | 2.58 |  |  | 10,740
Series 2 First Preferred Shares (1) | Quarterly |  | 5.21 |  |  | 1,260
Series 5 First Preferred Shares | March 31, 2025 |  | 4.59 |  |  | 8,000
Series 7 First Preferred Shares | June 30, 2025 |  | 3.94 |  |  | 6,000
(1)The floating-rate dividend was 6.77 percent from December 31, 2023, to March 30, 2024 (December 31, 2022, to March 30, 2023 – 5.86 percent); 6.71 percent from March 31, 2024, to June 29, 2024 (March 31, 2023, to June 29, 2023 – 6.29 percent); 6.60 percent from June 30, 2024, to September 29, 2024 (June 30, 2023, to September 29, 2023 – 6.29 percent); and 5.94 percent from September 30, 2024, to December 30, 2024 (September 30, 2023, to December 30, 2023 – 6.89 percent). Issued and Outstanding – Warrants
| 2024 |  | 2023
| Number of Warrants (thousands) |  | Amount |  | Number of Warrants (thousands) |  | Amount
Outstanding, Beginning of Year | 7,625 |  | 25 |  | 55,720 |  | 184
Exercised | (3,982) |  | (13) |  | (2,610) |  | (8)
Purchased and Cancelled | — |  | — |  | (45,485) |  | (151)
Outstanding, End of Year | 3,643 |  | 12 |  | 7,625 |  | 25
| Retained Earnings Prior to Ovintiv Split |  | Stock-Based Compensation |  |  |  | Total
As at December 31, 2022 | 2,395 |  | 296 |  |  |  | 2,691
Stock-Based Compensation Expense | — |  | 11 |  |  |  | 11
Purchase of Common Shares Under NCIB | (688) |  | — |  |  |  | (688)
Common Shares Issued on Exercise of Stock Options | — |  | (12) |  |  |  | (12)
As at December 31, 2023 | 1,707 |  | 295 |  |  |  | 2,002
Stock-Based Compensation Expense | — |  | 11 |  |  |  | 11
Purchase of Common Shares Under NCIB | (966) |  | — |  |  |  | (966)
Preferred Shares Redeemed | (87) |  | — |  |  |  | (87)
Common Shares Issued on Exercise of Stock Options | — |  | (16) |  |  |  | (16)
As at December 31, 2024 | 654 |  | 290 |  |  |  | 944

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