Ovintiv President Michael McAllister to Retire

Ovintiv Inc. President Michael McAllister plans to retire after 20 years with the company and nearly 40 years in the industry.

Upon McAllister’s retirement, effective June 30, CEO Doug Suttles will assume the responsibilities of president, according to a release from the Denver-based E&P company on May 27.

McAllister was named president of Ovintiv in September 2019 after previously serving as executive vice president and COO. During his tenure with Ovintiv, formerly known as Encana, McAllister had been instrumental in leading the company’s transformation to a liquids-focused North American producer.

On May 27, Ovintiv also announced Peter A. Dea will succeed retiring chairman Clayton H. Woitas, 71. Woitas has been chairman of the board since 2013. During his tenure on the board, he also served as interim president and CEO of the company from January-June 2013.

Following Woitas’ retirement, also effective June 30, Ovintiv will reduce the board from 12 directors to 11, with 10 classified as independent. Additionally, Dea, who has more than 30 years of experience in the E&P industry, will assume leadership of the Ovintiv board, where he has been a member since 2010.

Throughout his career, Dea has successfully led both public and private E&P companies and has extensive board experience, according to the company release.

Dea currently serves as president and CEO of Cirque Resources LP (since 2007) and executive chairman of Confluence Resources LP (since 2016). Previously, he served as CEO of Barret Resources (1999-2001) and president and CEO of Western Gas Resources (2001-2006).

In a statement commenting on the changes, Suttles said: “I’d like to thank both Clayton and Mike for their countless contributions to Ovintiv over many years. Their efforts have helped us drive innovation, manage challenges and transform Ovintiv into a leading North American resource company.”

“We look forward to having Peter as our new board chair,” he continued in his statement. “Throughout his 10 years on the Ovintiv board, his counsel, based on many years of diverse experience, has proven invaluable.”

Ovintiv is a North American oil and gas producer with roots dating back to the late 1800s. Starting in 2013, however, the company began retooling its portfolio with a weighting toward liquids. This included billions of dollars worth of noncore asset sales plus the multibillion-dollar acquisition of Newfield Exploration Co., which closed in 2019.

As a result of its transformation, Ovintiv’s multi-basin portfolio currently consists of core growth assets in the Anadarko Basin, Permian Basin and Montney plays.

In addition to shifting its focus to U.S. shale, the company last October launched plans to rebrand itself as Ovintiv and establish its corporate domicile in the U.S. from Calgary, Alberta.