Shale Producer Ovintiv Names New Chair

Denver-based shale producer Ovintiv (formerly Canadian-based Encana) announced May 27 that Peter Dea, a member of its board since 2010, would take over as chair on June 30, following the retirement of current chair Clayton Woitas.

On the same day, Ovintiv said, Michael McAllister, a 20-year veteran at Ovintiv and Encana, will also retire. Current CEO Doug Suttles will take over as president.

Woitas has been chair of the Ovintiv/Encana board since 2008, helping Suttles lead the transition of the company from a pure-play natural gas producer, created when Cenovus Energy was spun off as a pure-play oil producer in 2009, to a shale-focused producer active in Canada and the US.

“Under Clayton's board leadership, Ovintiv has successfully transitioned from a diverse natural gas-focused company to a large, independent crude oil and condensate producer,” Dea said. “On behalf of the board and leadership team, I would like to thank Clayton for his leadership, guidance and commitment to the company’s success over the last 12 years.”

With the retirement of Woitas, Ovintiv will reduce its board to 11 directors from 12, with 10 classified as independent.