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Business Combination (Tables) | 12 Months Ended
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Dec. 31, 2025
Business Combination [Abstract] |
Schedule of Purchase Price Allocation |
Purchase Price Allocation |  |  |  |  |  |  |  |
Consideration: |  |  |  |  |  |  |  |
Fair value of shares of Ovintiv common stock issued (1) |  |  |  |  |  |  | $ | 1,169 |
Consideration paid in cash (2) |  |  |  |  |  |  |  | 3,229 |
Total Consideration |  |  |  |  |  |  | $ | 4,398 |
Assets Acquired: |  |  |  |  |  |  |  |
Cash and cash equivalents |  |  |  |  |  |  | $ | 16 |
Accounts receivable and accrued revenues (3) |  |  |  |  |  |  |  | 202 |
Proved properties (3) |  |  |  |  |  |  |  | 3,727 |
Unproved properties (3) |  |  |  |  |  |  |  | 914 |
Other property, plant and equipment (3) |  |  |  |  |  |  |  | 17 |
Liabilities Assumed: |  |  |  |  |  |  |  |
Accounts payable and accrued liabilities (3) |  |  |  |  |  |  |  | (446 | )
Asset retirement obligation |  |  |  |  |  |  |  | (28 | )
Other liabilities and provisions (3) |  |  |  |  |  |  |  | (4 | )
Total Purchase Price |  |  |  |  |  |  | $ | 4,398 |
(1) The fair value was based on the issuance of 31.8 million shares of common stock using the NYSE price of $36.78 on June 12, 2023. (2) Cash consideration paid includes final cash settlements of $12 million which were completed during the first quarter of 2024. (3) Since the completion of the business combination on June 12, 2023, additional information related to pre-acquisition assets and liabilities was obtained resulting in measurement period adjustments. Changes in the fair value estimates comprised an increase in accounts receivable and accrued revenues of $22 million, an increase in proved properties of $134 million, a decrease in unproved properties of $227 million, a decrease in other property, plant and equipment of $16 million, a decrease in accounts payable and accrued liabilities of $73 million and a decrease in other liabilities and provisions of $2 million.
Schedule of Unaudited Pro Forma Financial Information |
For the year ended December 31 (US$ millions, except per share amounts) |  | 2023 |
Revenues |  | $ | 11,485 |
Net Earnings (Loss) |  | $ | 2,315 |
Net Earnings (Loss) per Share |  |  |
Basic |  | $ | 8.43 |
Diluted |  |  | 8.31 |

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