
As at December 31	2025			2024

Trade Receivables and Accrued Revenues
Production accruals	$	691		$	747
Purchased product accruals		154			174
Joint interest and trade receivables		119			132
Derivative settlements		13			-
Corporate and other		61			37
Total Trade Receivables and Accrued Revenues		1,038			1,090
Prepaids		56			56
Deposits and Other		40			42
		1,134			1,188
Expected Credit Loss Allowance		(6	)		(5	)
	$	1,128		$	1,183

Ovintiv’s trade receivables and accrued revenues primarily consist of production sales of oil, NGLs and natural gas, product optimization from marketing and recoveries from joint working interest partners. The Company’s receivables are short dated with payments generally due within 30 to 60 days, with no financing element.

Trade receivables and accrued revenues are subject to credit risk which is the risk of loss from the potential of a counterparty failing to meet its obligation in accordance with agreed terms. Ovintiv’s credit exposure related to product sales and derivative financial instruments are mitigated through the use of credit policies approved by the Board of Directors which govern credit practices that limit transactions according to counterparties’ credit quality, and regular monitoring and review of counterparties’ credit worthiness. The Company may also request collateral support, including standby letters of credit, from customers that purchase production. Receivables due from joint working interest partners include numerous counterparties ranging from large public companies to small private companies within the oil and gas industry. In the event of non-payment, Ovintiv may be able to mitigate losses through requiring prepayment of future costs and netting outstanding receivables against associated revenue payables to the interest owner. The Company monitors ongoing credit exposure through active review of counterparty balances against contract terms and due dates, timely dispute resolution, payment confirmation, consideration of the customers’ financial condition and general industry market conditions.

Ovintiv’s estimated credit loss allowance is estimated using historical loss information, current industry conditions and payment practices, as well as reasonable and supportable forecasts of future economic conditions. Credit risk is assessed based on days outstanding and utilizes both internal credit assessments and publicly available credit information. As at December 31, 2025, the current period expected credit loss allowance was $6 million (2024 ‑ $5 million). See Note 25 for more information on credit risk exposures.

During 2025, Ovintiv purchased 18.5 million common shares of NuVista Energy Ltd. which were valued at $245 million as at December 31, 2025. The estimated fair value of the common shares is categorized within Level 1 of the fair value hierarchy. During the year ended December 31, 2025, the Company recognized an unrealized gain of $28 million related to these common shares in other (gains) losses, net in the Consolidated Statement of Earnings.