Ovintiv (OVV) 10-Q 30 Oct 20 2020 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2020	Oct. 23, 2020
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2020
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2020
Entity Registrant Name	Ovintiv Inc.
Entity Central Index Key	0001792580
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		259,860,778
Trading Symbol	OVV
Document Quarterly Report	true
Document Transition Report	false
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false
Entity File Number	001-39191
Entity Tax Identification Number	84-4427672
Entity Address, Address Line One	Suite 1700
Entity Address, Address Line Two	370 17th Street
Entity Address, City or Town	Denver
Entity Address, State or Province	CO
Entity Address, Country	US
Entity Address, Postal Zip Code	80202
City Area Code	303
Local Phone Number	623-2300
Entity Incorporation, State or Country Code	DE
Title of 12(b) Security	Common Shares
Security Exchange Name	NYSE

Condensed Consolidated Statemen

Condensed Consolidated Statement Of Earnings (Unaudited) - USD ($) shares in Millions, $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Revenues
Product and service revenues		$ 1,326	$ 1,771	$ 3,919	$ 5,191
Gains (losses) on risk management, net		(154)	81	587	(84)
Sublease revenues		18	19	53	54
Total Revenues		1,190	1,871	4,559	5,161
Operating Expenses
Production, mineral and other taxes		47	66	126	187
Transportation and processing		365	398	1,129	1,148
Operating		133	193	452	545
Purchased product		322	264	1,039	784
Depreciation, depletion and amortization		406	545	1,433	1,454
Impairments		1,336	0	4,863	0
Accretion of asset retirement obligation		8	9	26	28
Administrative		79	81	297	389
Total Operating Expenses		2,696	1,556	9,365	4,535
Operating Income (Loss)		(1,506)	315	(4,806)	626
Other (Income) Expenses
Interest		97	99	279	285
Foreign exchange (gain) loss, net		(25)	30	51	(62)
(Gain) loss on divestitures, net		0	(5)	0	(4)
Other (gains) losses, net		(18)	(1)	(48)	24
Total Other (Income) Expenses		54	123	282	243
Net Earnings (Loss) Before Income Tax		(1,560)	192	(5,088)	383
Income tax expense (recovery)		(39)	43	395	143
Net Earnings (Loss)		$ (1,521)	$ 149	$ (5,483)	$ 240
Net Earnings (Loss) per Share of Common Stock
Basic & Diluted	[1]	$ (5.85)	$ 0.56	$ (21.10)	$ 0.92
Weighted Average Shares of Common Stock Outstanding (millions)
Basic & Diluted	[1]	259.8	264.6	259.8	261.7
[1]	Net earnings (loss) per share of common stock and weighted average shares of common stock outstanding reflect the Share Consolidation as described in Note 1. Accordingly, the comparative periods have been restated.

Condensed Consolidated Statem_2

Condensed Consolidated Statement of Comprehensive Income (unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Statement Of Income And Comprehensive Income [Abstract]
Net Earnings (Loss)	$ (1,521)	$ 149	$ (5,483)	$ 240
Other Comprehensive Income (Loss), Net of Tax
Foreign currency translation adjustment	26	(6)	(21)	32
Pension and other post-employment benefit plans	(2)	0	(1)	(24)
Other Comprehensive Income (Loss)	24	(6)	(22)	8
Comprehensive Income (Loss)	$ (1,497)	$ 143	$ (5,505)	$ 248

Condensed Consolidated Balance

Condensed Consolidated Balance Sheet (unaudited) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Current Assets
Cash and cash equivalents	$ 32	$ 190
Accounts receivable and accrued revenues (net of allowances of $4 million (2019: $3 million))	766	1,235
Risk management	170	148
Income tax receivable	251	296
Total Current Assets	1,219	1,869
Oil and natural gas properties, based on full cost accounting
Proved properties	52,653	51,210
Unproved properties	3,168	3,714
Other	887	904
Property, plant and equipment	56,708	55,828
Less: Accumulated depreciation, depletion and amortization	(46,485)	(40,637)
Property, plant and equipment, net	10,223	15,191
Other Assets	1,113	1,213
Risk Management	8	2
Deferred Income Taxes	0	601
Goodwill	2,594	2,611
Total Assets	15,157	21,487
Current Liabilities
Accounts payable and accrued liabilities	1,615	2,239
Current portion of operating lease liabilities	66	78
Income tax payable	3	1
Risk management	65	114
Total Current Liabilities	1,749	2,432
Long-Term Debt	7,142	6,974
Operating Lease Liabilities	912	977
Other Liabilities and Provisions	377	464
Risk Management	154	68
Asset Retirement Obligation	446	425
Deferred Income Taxes	25	217
Total Liabilities	10,805	11,557
Commitments and Contingencies
Shareholders’ Equity
2020 issued and outstanding: 259.8 million shares (2019: 259.8 million shares)	3	7,061
Paid in surplus	8,460	1,402
Retained earnings (Accumulated deficit)	(5,135)	421
Accumulated other comprehensive income	1,024	1,046
Total Shareholders’ Equity	4,352	9,930
Total Liabilities and Shareholders' Equity	$ 15,157	$ 21,487

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheet (Parenthetical) (unaudited) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Statement Of Financial Position [Abstract]
Allowances for accounts receivable and accrued revenues	$ 4	$ 3
Common Stock, Shares, Authorized	775,000,000	775,000,000
Common Stock, Shares, Issued	259,800,000	259,800,000
Common Stock, Shares, Outstanding	259,800,000	259,800,000

Condensed Consolidated Statem_3

Condensed Consolidated Statement Of Changes In Shareholders' Equity (unaudited) - USD ($) $ in Millions	Total	Cumulative Effect Period of Adoption Adjustment [Member]	Substantial Issuer Bid [Member]	Normal Course Issuer Bid [Member]	Share Capital [Member]	Share Capital [Member]Cumulative Effect Period of Adoption Adjustment [Member]	Share Capital [Member]Substantial Issuer Bid [Member]	Share Capital [Member]Normal Course Issuer Bid [Member]	Paid In Surplus [Member]	Paid In Surplus [Member]Cumulative Effect Period of Adoption Adjustment [Member]	Paid In Surplus [Member]Substantial Issuer Bid [Member]	Paid In Surplus [Member]Normal Course Issuer Bid [Member]	Retained Earnings (Accumulated Deficit) [Member]	Retained Earnings (Accumulated Deficit) [Member]Cumulative Effect Period of Adoption Adjustment [Member]	Retained Earnings (Accumulated Deficit) [Member]Substantial Issuer Bid [Member]	Retained Earnings (Accumulated Deficit) [Member]Normal Course Issuer Bid [Member]	Accumulated Other Comprehensive Income [Member]	Accumulated Other Comprehensive Income [Member]Cumulative Effect Period of Adoption Adjustment [Member]	Accumulated Other Comprehensive Income [Member]Substantial Issuer Bid [Member]	Accumulated Other Comprehensive Income [Member]Normal Course Issuer Bid [Member]
Balance, Beginning of Period at Dec. 31, 2018	$ 7,447	$ 75			$ 4,656	$ 0			$ 1,358	$ 0			$ 435	$ 75			$ 998	$ 0
Net Earnings (Loss)	240				0				0				240				0
Dividends on Shares of Common Stock	(77)				0				0				(77)				0
Common Shares Purchased			$ (213)	$ (1,037)			$ (257)	$ (816)			$ 44	$ 0			$ 0	$ (221)			$ 0	$ 0
Common Shares Issued	3,478				3,478				0				0				0
Other Comprehensive Income (Loss)	$ 8				0				0				$ 0				8
Accounting Standards Update [Extensible List]	us-gaap:AccountingStandardsUpdate201602Member												us-gaap:AccountingStandardsUpdate201602Member
Balance, End of Period at Sep. 30, 2019	$ 9,921				7,061				1,402				$ 452				1,006
Balance, Beginning of Period at Dec. 31, 2018	7,447	$ 75			4,656	$ 0			1,358	$ 0			435	$ 75			998	$ 0
Common Shares Purchased	(1,073)			$ (1,037)				$ (816)								$ (221)
Common Shares Issued	3,478
Reclassification of Share Capital due to the Reorganization					0
Balance, End of Period at Dec. 31, 2019	9,930				7,061				1,402				421				1,046
Balance, Beginning of Period at Jun. 30, 2019	10,015				7,318				1,358				327				1,012
Net Earnings (Loss)	149				0				0				149				0
Dividends on Shares of Common Stock	(24)				0				0				(24)				0
Common Shares Purchased			$ (213)				$ (257)				$ 44
Other Comprehensive Income (Loss)	(6)				0				0				0				(6)
Balance, End of Period at Sep. 30, 2019	9,921				7,061				1,402				452				1,006
Balance, Beginning of Period at Dec. 31, 2019	9,930				7,061				1,402				421				1,046
Net Earnings (Loss)	(5,483)				0				0				(5,483)				0
Dividends on Shares of Common Stock	(73)				0				0				(73)				0
Common Shares Purchased	0
Common Shares Issued	0
Other Comprehensive Income (Loss)	(22)				0				0				0				(22)
Reclassification of Share Capital due to the Reorganization	0				(7,058)				7,058				0				0
Balance, End of Period at Sep. 30, 2020	4,352				3				8,460				(5,135)				1,024
Balance, Beginning of Period at Jun. 30, 2020	5,873				3				8,460				(3,590)				1,000
Net Earnings (Loss)	(1,521)				0				0				(1,521)				0
Dividends on Shares of Common Stock	(24)				0				0				(24)				0
Other Comprehensive Income (Loss)	$ 24				0				0				$ 0				24
Accounting Standards Update [Extensible List]	us-gaap:AccountingStandardsUpdate201602Member												us-gaap:AccountingStandardsUpdate201602Member
Balance, End of Period at Sep. 30, 2020	$ 4,352				$ 3				$ 8,460				$ (5,135)				$ 1,024

Condensed Consolidated Statem_4

Condensed Consolidated Statement Of Changes In Shareholders' Equity (Parenthetical) (unaudited) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Statement Of Stockholders Equity [Abstract]
Dividends on Common Shares, per share	$ 0.09375	$ 0.09375	$ 0.28125	$ 0.28125

Condensed Consolidated Statem_5

Condensed Consolidated Statement Of Cash Flows (unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Operating Activities
Net earnings (loss)	$ (1,521)	$ 149	$ (5,483)	$ 240
Depreciation, depletion and amortization	406	545	1,433	1,454
Impairments	1,336	0	4,863	0
Accretion of asset retirement obligation	8	9	26	28	$ 37
Deferred income taxes	(42)	44	393	140
Unrealized (gain) loss on risk management	243	41	18	385
Unrealized foreign exchange (gain) loss	(21)	49	30	(11)
Foreign exchange on settlements	(2)	(18)	18	(53)
(Gain) loss on divestitures, net	0	(5)	0	(4)
Other	(9)	3	(61)	(63)
Net change in other assets and liabilities	(47)	(29)	(167)	(55)
Net change in non-cash working capital	142	(32)	106	130
Cash From (Used in) Operating Activities	493	756	1,176	2,191
Investing Activities
Capital expenditures	(351)	(566)	(1,393)	(2,052)
Acquisitions	(1)	(25)	(19)	(66)
Corporate acquisition, net of cash and restricted cash acquired	0	0	0	94
Proceeds from divestitures	39	171	69	177
Net change in investments and other	68	(142)	(74)	(118)
Cash From (Used in) Investing Activities	(245)	(562)	(1,417)	(1,965)
Financing Activities
Net issuance (repayment) of revolving long-term debt	(100)	(21)	452	740
Repayment of long-term debt	(109)	0	(224)	(500)
Purchase of shares of common stock	0	(213)	0	(1,250)
Dividends on shares of common stock	(24)	(24)	(73)	(77)
Finance lease payments and other financing arrangements	(23)	(22)	(67)	(63)
Cash From (Used in) Financing Activities	(256)	(280)	88	(1,150)
Foreign Exchange Gain (Loss) on Cash, Cash Equivalents and Restricted Cash Held in Foreign Currency	1	0	(5)	4
Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash	(7)	(86)	(158)	(920)
Cash, Cash Equivalents and Restricted Cash, Beginning of Period	39	224	190	1,058	1,058
Cash, Cash Equivalents and Restricted Cash, End of Period	32	138	32	138	$ 190
Cash, End of Period	22	44	22	44
Cash Equivalents, End of Period	10	94	10	94
Restricted Cash, End of Period	$ 0	$ 0	$ 0	$ 0

Basis of Presentation and Princ

Basis of Presentation and Principles of Consolidation	9 Months Ended
	Sep. 30, 2020
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Basis of Presentation and Principles of Consolidation	1. Basis of Presentation and Principles of Consolidation On January 24, 2020, Encana Corporation (“Encana”) completed a corporate reorganization, which included a plan of arrangement (the “Arrangement”) that involved, among other things, a share consolidation by Encana on the basis of one post-consolidation share for each five The Arrangement, as described above, was accounted for as a reorganization of entities under common control. Accordingly, the resulting transactions were recognized using historical carrying amounts. On January 24, 2020, Ovintiv became the reporting entity upon completion of the Reorganization. In accordance with the Share Consolidation, all common shares and per-share amounts disclosed herein reflect the post-Share Consolidation shares unless otherwise specified; comparative periods have been restated accordingly. References to shares of common stock refer to the shares of common stock of Ovintiv Inc. for any periods after the completion of the Arrangement, and to the common shares of Encana Corporation for any periods before January 24, 2020. Following the U.S. Domestication, on January 24, 2020, the functional currency of Ovintiv Inc. became U.S. dollars, and accordingly, the financial results herein are consolidated and reported in U.S. dollars . The interim Condensed Consolidated Financial Statements include the accounts of Ovintiv and entities in which it holds a controlling interest. All intercompany balances and transactions are eliminated on consolidation. Undivided interests in oil and natural gas exploration and production joint ventures and partnerships are consolidated on a proportionate basis. Investments in non-controlled entities over which the Company has the ability to exercise significant influence are accounted for using the equity method. The interim Condensed Consolidated Financial Statements are prepared in conformity with U.S. GAAP and the rules and regulations of the SEC. Pursuant to these rules and regulations, certain information and disclosures normally required under U.S. GAAP have been condensed or have been disclosed on an annual basis only. Accordingly, the interim Condensed Consolidated Financial Statements should be read in conjunction with the annual audited Consolidated Financial Statements and the notes thereto for the year ended December 31, 2019, which are included in Item 8 of Ovintiv’s 2019 Annual Report on Form 10-K. The interim Condensed Consolidated Financial Statements have been prepared following the same accounting policies and methods of computation as the annual audited Consolidated Financial Statements for the year ended December 31, 2019, except as noted below in Note 2. The disclosures provided below are incremental to those included with the annual audited Consolidated Financial Statements. These unaudited interim Condensed Consolidated Financial Statements reflect, in the opinion of Management, all normal and recurring adjustments necessary to present fairly the financial position and results of the Company as at and for the periods presented. Interim condensed consolidated financial results are not necessarily indicative of consolidated financial results expected for the fiscal year.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	9 Months Ended
	Sep. 30, 2020
New Accounting Pronouncements And Changes In Accounting Principles [Abstract]
Recent Accounting Pronouncements	2. Recent Accounting Pronouncements Changes in Accounting Policies and Practices On January 1, 2020, Ovintiv adopted the following ASUs issued by the FASB, which have not had a material impact on the interim Condensed Consolidated Financial Statements: • ASU 2017-04, “Simplifying the Test for Goodwill Impairment”. The amendment eliminates the second step of the goodwill impairment test which requires the Company to measure the impairment based on the excess amount of the carrying value of the reporting unit’s goodwill over the implied fair value of its goodwill. Under this amendment, the goodwill impairment will be measured based on the excess amount of the reporting unit’s carrying value over its respective fair value. The amendment has been applied prospectively. • ASU 2016-13, “Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments” under Topic 326. The standard amends the impairment model which requires utilizing a forward-looking expected loss methodology in place of the incurred loss methodology for financial instruments, including trade receivables. The standard requires entities to consider a broader range of information to estimate expected credit losses, resulting in earlier recognition of credit losses. The standard has been applied using the modified retrospective approach.

Segmented Information

Segmented Information	9 Months Ended
	Sep. 30, 2020
Segment Reporting [Abstract]
Segmented Information	3. Segmented Information Ovintiv’s reportable segments are determined based on the following operations and geographic locations: • USA Operations includes the exploration for, development of, and production of oil, NGLs and natural gas and other related activities within the U.S. cost center. • Canadian Operations includes the exploration for, development of, and production of oil, NGLs and natural gas and other related activities within the Canadian cost center. • China Operations included the production of oil and other related activities within the China cost center. Effective July 31, 2019, the production sharing contract with China National Offshore Oil Corporation (“CNOOC”) was terminated and the Company exited its China Operations. • Market Optimization is primarily responsible for the sale of the Company’s proprietary production. These results are reported in the USA and Canadian Operations. Market optimization activities include third-party purchases and sales of product to provide operational flexibility and cost mitigation for transportation commitments, product type, delivery points and customer diversification. These activities are reflected in the Market Optimization segment. Market Optimization sells substantially all of the Company’s upstream production to third-party customers. Transactions between segments are based on market values and are eliminated on consolidation. Corporate and Other mainly includes unrealized gains or losses recorded on derivative financial instruments. Once the instruments are settled, the realized gains and losses are recorded in the reporting segment to which the derivative instruments relate. Corporate and Other also includes amounts related to sublease rentals. Results of Operations (For the three months ended September 30) Segment and Geographic Information USA Operations Canadian Operations China Operations (1) 2020 2019 2020 2019 2020 2019 Revenues Product and service revenues $ 670 $ 1,097 $ 310 $ 377 $ - $ 3 Gains (losses) on risk management, net 38 35 49 87 - - Sublease revenues - - - - - - Total Revenues 708 1,132 359 464 - 3 Operating Expenses Production, mineral and other taxes 43 63 4 3 - - Transportation and processing 109 125 203 211 - - Operating 104 151 24 32 - 4 Depreciation, depletion and amortization 299 438 99 100 - - Impairments 1,336 - - - - - Total Operating Expenses 1,891 777 330 346 - 4 Operating Income (Loss) $ (1,183 ) $ 355 $ 29 $ 118 $ - $ (1 ) Market Optimization Corporate & Other Consolidated 2020 2019 2020 2019 2020 2019 Revenues Product and service revenues $ 346 $ 294 $ - $ - $ 1,326 $ 1,771 Gains (losses) on risk management, net 2 - (243 ) (41 ) (154 ) 81 Sublease revenues - - 18 19 18 19 Total Revenues 348 294 (225 ) (22 ) 1,190 1,871 Operating Expenses Production, mineral and other taxes - - - - 47 66 Transportation and processing 53 62 - - 365 398 Operating 5 6 - - 133 193 Purchased product 322 264 - - 322 264 Depreciation, depletion and amortization - - 8 7 406 545 Impairments - - - - 1,336 - Accretion of asset retirement obligation - - 8 9 8 9 Administrative - - 79 81 79 81 Total Operating Expenses 380 332 95 97 2,696 1,556 Operating Income (Loss) $ (32 ) $ (38 ) $ (320 ) $ (119 ) (1,506 ) 315 Other (Income) Expenses Interest 97 99 Foreign exchange (gain) loss, net (25 ) 30 (Gain) loss on divestitures, net - (5 ) Other (gains) losses, net (18 ) (1 ) Total Other (Income) Expenses 54 123 Net Earnings (Loss) Before Income Tax (1,560 ) 192 Income tax expense (recovery) (39 ) 43 Net Earnings (Loss) $ (1,521 ) $ 149 (1 ) The Company terminated its production sharing contract with CNOOC and exited its China Operations effective July 31, 2019. Results of Operations (For the nine months ended September 30) Segment and Geographic Information USA Operations Canadian Operations China Operations (1) 2020 2019 2020 2019 2020 2019 Revenues Product and service revenues $ 1,900 $ 3,062 $ 906 $ 1,222 $ - $ 37 Gains (losses) on risk management, net 412 128 188 174 - - Sublease revenues - - - - - - Total Revenues 2,312 3,190 1,094 1,396 - 37 Operating Expenses Production, mineral and other taxes 115 176 11 11 - - Transportation and processing 345 340 614 640 - - Operating 364 414 75 96 - 16 Depreciation, depletion and amortization 1,092 1,141 319 287 - - Impairments 4,863 - - - - - Total Operating Expenses 6,779 2,071 1,019 1,034 - 16 Operating Income (Loss) $ (4,467 ) $ 1,119 $ 75 $ 362 $ - $ 21 Market Optimization Corporate & Other Consolidated 2020 2019 2020 2019 2020 2019 Revenues Product and service revenues $ 1,113 $ 870 $ - $ - $ 3,919 $ 5,191 Gains (losses) on risk management, net 5 (1 ) (18 ) (385 ) 587 (84 ) Sublease revenues - - 53 54 53 54 Total Revenues 1,118 869 35 (331 ) 4,559 5,161 Operating Expenses Production, mineral and other taxes - - - - 126 187 Transportation and processing 170 168 - - 1,129 1,148 Operating 15 21 (2 ) (2 ) 452 545 Purchased product 1,039 784 - - 1,039 784 Depreciation, depletion and amortization - - 22 26 1,433 1,454 Impairments - - - - 4,863 - Accretion of asset retirement obligation - - 26 28 26 28 Administrative - - 297 389 297 389 Total Operating Expenses 1,224 973 343 441 9,365 4,535 Operating Income (Loss) $ (106 ) $ (104 ) $ (308 ) $ (772 ) (4,806 ) 626 Other (Income) Expenses Interest 279 285 Foreign exchange (gain) loss, net 51 (62 ) (Gain) loss on divestitures, net - (4 ) Other (gains) losses, net (48 ) 24 Total Other (Income) Expenses 282 243 Net Earnings (Loss) Before Income Tax (5,088 ) 383 Income tax expense (recovery) 395 143 Net Earnings (Loss) $ (5,483 ) $ 240 (1 ) The Company terminated its production sharing contract with CNOOC and exited its China Operations effective July 31, 2019. Intersegment Information Market Optimization Marketing Sales Upstream Eliminations Total For the three months ended September 30, 2020 2019 2020 2019 2020 2019 Revenues $ 1,445 $ 2,088 $ (1,097 ) $ (1,794 ) $ 348 $ 294 Operating Expenses Transportation and processing 148 173 (95 ) (111 ) 53 62 Operating 5 6 - - 5 6 Purchased product 1,324 1,947 (1,002 ) (1,683 ) 322 264 Operating Income (Loss) $ (32 ) $ (38 ) $ - $ - $ (32 ) $ (38 ) Market Optimization Marketing Sales Upstream Eliminations Total For the nine months ended September 30, 2020 2019 2020 2019 2020 2019 Revenues $ 4,587 $ 5,459 $ (3,469 ) $ (4,590 ) $ 1,118 $ 869 Operating Expenses Transportation and processing 468 465 (298 ) (297 ) 170 168 Operating 15 21 - - 15 21 Purchased product 4,210 5,078 (3,171 ) (4,294 ) 1,039 784 Operating Income (Loss) $ (106 ) $ (105 ) $ - $ 1 $ (106 ) $ (104 ) Capital Expenditures Three Months Ended Nine Months Ended September 30, September 30, 2020 2019 2020 2019 USA Operations $ 244 $ 464 $ 1,090 $ 1,682 Canadian Operations 106 99 300 364 Market Optimization - 2 - 2 Corporate & Other 1 1 3 4 $ 351 $ 566 $ 1,393 $ 2,052 Costs Incurred For the year ended December 31, 2019 United States Canada Total Acquisition Costs (1) Unproved $ 843 $ - $ 843 Proved 5,963 - 5,963 Total Acquisition Costs 6,806 - 6,806 Exploration Costs 5 - 5 Development Costs 2,129 480 2,609 $ 8,940 $ 480 $ 9,420 (1) Acquisition costs were restated and include the non-cash acquisition of the proved and unproved properties of Newfield Exploration Company in conjunction with the business combination described in Note 8. Goodwill, Property, Plant and Equipment and Total Assets by Segment Goodwill Property, Plant and Equipment Total Assets As at As at As at September 30, December 31, September 30, December 31, September 30, December 31, 2020 2019 2020 2019 2020 2019 USA Operations $ 1,938 $ 1,938 $ 8,857 $ 13,757 $ 11,287 $ 16,613 Canadian Operations 656 673 1,162 1,205 1,966 2,122 Market Optimization - - 2 2 231 253 Corporate & Other - - 202 227 1,673 2,499 $ 2,594 $ 2,611 $ 10,223 $ 15,191 $ 15,157 $ 21,487

Revenues from Contracts with Cu

Revenues from Contracts with Customers	9 Months Ended
	Sep. 30, 2020
Revenue From Contract With Customer [Abstract]
Revenues from Contracts with Customers	4. Revenues from Contracts with Customers The following tables summarize the Company’s revenues from contracts with customers. Revenues (For the three months ended September 30) USA Operations Canadian Operations China Operations (1) 2020 2019 2020 2019 2020 2019 Revenues from Customers Product revenues (2) Oil $ 504 $ 905 $ 1 $ 3 $ - $ 3 NGLs 98 99 139 225 - - Natural gas 71 95 172 150 - - Service revenues Gathering and processing - (1 ) - 2 - - Product and Service Revenues $ 673 $ 1,098 $ 312 $ 380 $ - $ 3 Market Optimization Corporate & Other Consolidated 2020 2019 2020 2019 2020 2019 Revenues from Customers Product revenues (2) Oil $ 131 $ 107 $ - $ - $ 636 $ 1,018 NGLs - 2 - - 237 326 Natural gas 210 181 - - 453 426 Service revenues Gathering and processing - - - - - 1 Product and Service Revenues $ 341 $ 290 $ - $ - $ 1,326 $ 1,771 (1) The Company terminated its production sharing contract with CNOOC and exited its China Operations effective July 31, 2019. (2) Includes revenues from production and revenues of product purchased from third parties, but excludes intercompany marketing fees transacted between the Company’s operating segments. Revenues (For the nine months ended September 30 ) USA Operations Canadian Operations China Operations (1) 2020 2019 2020 2019 2020 2019 Revenues from Customers Product revenues (2) Oil $ 1,453 $ 2,461 $ 5 $ 6 $ - $ 37 NGLs 244 332 406 659 - - Natural gas 208 276 501 563 - - Service revenues Gathering and processing 1 2 1 4 - - Product and Service Revenues $ 1,906 $ 3,071 $ 913 $ 1,232 $ - $ 37 Market Optimization Corporate & Other Consolidated 2020 2019 2020 2019 2020 2019 Revenues from Customers Product revenues (2) Oil $ 500 $ 205 $ - $ - $ 1,958 $ 2,709 NGLs 4 6 - - 654 997 Natural gas 596 640 - - 1,305 1,479 Service revenues Gathering and processing - - - - 2 6 Product and Service Revenues $ 1,100 $ 851 $ - $ - $ 3,919 $ 5,191 (1) The Company terminated its production sharing contract with CNOOC and exited its China Operations effective July 31, 2019. (2) Includes revenues from production and revenues of product purchased from third parties, but excludes intercompany marketing fees transacted between the Company’s operating segments. The Company’s revenues from contracts with customers consists of product sales including oil, NGLs and natural gas, as well as the provision of gathering and processing services to third parties. The Company had no contract asset or liability balances during the periods presented. As at September 30, 2020, receivables and accrued revenues from contracts with customers were $628 million ($1,095 million as at December 31, 2019). Product sales are sold under short-term contracts with terms that are less than one year at either fixed or market index prices or under long-term contracts exceeding one year at market index prices. The Company’s gathering and processing services are provided on an interruptible basis with transaction prices that are for fixed prices and/or variable consideration. Variable consideration received is related to recovery of plant operating costs or escalation of the fixed price based on a consumer price index. As the service contracts are interruptible, with service provided on an “as available” basis, there are no unsatisfied performance obligations remaining at September 30, 2020. As at September 30, 2020, all remaining performance obligations are priced at market index prices or are variable volume delivery contracts. As such, the variable consideration is allocated entirely to the wholly unsatisfied performance obligation or promise to deliver units of production, and revenue is recognized at the amount for which the Company has the right to invoice the product delivered. As the period between when the product sales are transferred and Ovintiv receives payments is generally 30 to 60 days, there is no financing element associated with customer contracts. In addition, Ovintiv does not disclose unsatisfied performance obligations for customer contracts with terms less than 12 months or for variable consideration related to unsatisfied performance obligations.

Interest

Interest	9 Months Ended
	Sep. 30, 2020
Interest Expense [Abstract]
Interest	5. Interest Three Months Ended Nine Months Ended September 30, September 30, 2020 2019 2020 2019 Interest Expense on: Debt $ 91 $ 93 $ 262 $ 268 Finance leases 2 3 7 10 Other 4 3 10 7 $ 97 $ 99 $ 279 $ 285

Foreign Exchange (Gain) Loss, N

Foreign Exchange (Gain) Loss, Net	9 Months Ended
	Sep. 30, 2020
Foreign Currency [Abstract]
Foreign Exchange (Gain) Loss, Net	6. Foreign Exchange (Gain) Loss, Net Three Months Ended Nine Months Ended September 30, September 30, 2020 2019 2020 2019 Unrealized Foreign Exchange (Gain) Loss on: Translation of U.S. dollar financing debt issued from Canada $ (6 ) $ 68 $ 56 $ (117 ) Translation of U.S. dollar risk management contracts issued from Canada (15 ) 5 1 (13 ) Translation of intercompany notes - (24 ) (27 ) 119 (21 ) 49 30 (11 ) Foreign Exchange on Settlements of: U.S. dollar financing debt issued from Canada (2 ) (10 ) 15 (22 ) U.S. dollar risk management contracts issued from Canada (2 ) (2 ) 7 (1 ) Intercompany notes - (8 ) 3 (31 ) Other Monetary Revaluations - 1 (4 ) 3 $ (25 ) $ 30 $ 51 $ (62 ) Following the completion of the Reorganization, including the U.S. Domestication, on January 24, 2020 as described in Note 1, the U.S. dollar denominated unsecured notes issued by Encana Corporation from Canada were assumed by Ovintiv Inc., a company incorporated in Delaware with a U.S. dollar functional currency. Accordingly, these U.S. dollar denominated unsecured notes, along with certain intercompany notes, no longer attract foreign exchange translation gains or losses.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Income Taxes	7. Income Taxes Three Months Ended Nine Months Ended September 30, September 30, 2020 2019 2020 2019 Current Tax United States $ 4 $ 1 $ 3 $ 3 Canada (1 ) (2 ) (1 ) - Total Current Tax Expense (Recovery) 3 (1 ) 2 3 Deferred Tax United States (41 ) 56 (180 ) 117 Canada - (12 ) 573 22 Other Countries (1 ) - - 1 Total Deferred Tax Expense (Recovery) (42 ) 44 393 140 Income Tax Expense (Recovery) $ (39 ) $ 43 $ 395 $ 143 Effective Tax Rate 2.5 % 22.4 % (7.8 %) 37.3 % Ovintiv’s interim income tax expense is determined using the estimated annual effective income tax rate applied to year-to-date net earnings before income tax plus the effect of legislative changes and amounts in respect of prior periods. The estimated annual effective income tax rate is impacted by expected annual earnings, valuation allowances related to current year losses, income tax related to foreign operations, state tax, the effect of legislative changes, non-taxable capital gains and losses, and tax differences on divestitures and transactions, which can produce interim effective tax rate fluctuations. Deferred income tax assets are routinely assessed for realizability. During the nine months ended September 30, 2020, the Company determined, after weighing both positive and negative evidence, that a valuation allowance should be recorded to reduce the associated deferred tax assets in the United States and in Canada. The Company continues to be in a cumulative three-year loss position as of September 30, 2020 and is expected to be in a cumulative three-year loss position by the end of the current fiscal year in both the United States and Canada. The cumulative three-year losses, as well as increased uncertainty in the timing as to when the realization of deferred tax assets will occur, is significant negative evidence to overcome, and consequently, it is more likely than not that the deferred tax assets will not be realizable. If it is determined that the deferred tax assets are realizable in the future, a reduction in the valuation allowance will be recorded. As part of the U.S. Domestication, Ovintiv also recognized a capital loss and recorded a deferred income tax benefit in the amount of $1.2 billion for Canadian income tax purposes due to the decline in the Company’s share value compared to the historical tax basis of its properties that were transferred as part of the Reorganization. Ovintiv assessed the realizability of these capital losses against capital gains and concluded that it is more likely than not that the deferred tax asset will not be realizable. Therefore, Ovintiv has recorded a corresponding valuation allowance against the deferred tax asset. If it is determined the capital loss can be utilized at a future date, a reduction in the valuation allowance will be recorded. Following the U.S. Domestication as described in Note 1, the applicable statutory rate became the U.S. federal income tax rate. The effective tax rate of (7.8) percent for the nine months ended September 30, 2020 is lower than the U.S. federal statutory tax rate of 21 percent primarily due to valuation allowances recorded due to current year losses arising from ceiling test impairments and an increase in the valuation allowance of $568 million in Canada related to prior years’ deferred tax assets which was recorded as a discrete item. See Note 10 for further discussion related to the ceiling test impairments. The effective tax rate of 37.3 percent for the nine months ended September 30, 2019, was higher than the Canadian statutory tax rate of 26.6 percent primarily due to the re-measurement of the Company’s deferred tax position resulting from the Alberta tax rate reduction. On June 28, 2019, Alberta Bill 3, the Job Creation Tax Cut (Alberta Corporate Tax Amendment) Act, was signed into law resulting in a reduction of the Alberta corporate tax rate from 12 percent to 11 percent effective July 1, 2019, with further one percent rate reductions to take effect every year on January 1 until the general corporate tax rate is eight percent on January 1, 2022. During the nine months ended September 30, 2019, the deferred tax expense of $140 million included an adjustment of $55 million resulting from the re-measurement of the Company’s deferred tax position due to the Alberta tax rate reduction. On June 29, 2020, Alberta announced the previously scheduled rate reduction would be accelerated with the Alberta rate reducing to eight percent effective July 1, 2020. This legislation is not yet enacted and the impact resulting from this announcement is not expected to be material for the Company’s tax position.

Business Combination

Business Combination	9 Months Ended
	Sep. 30, 2020
Business Combinations [Abstract]
Business Combination	8. Business Combination Newfield Exploration Company Acquisition On February 13, 2019, the business combination with Newfield Exploration Company, a Delaware corporation (“Newfield”) was completed pursuant to an Agreement and Plan of Merger with Newfield (the “Merger”). As a result of the Merger, Newfield stockholders received 2.6719 Encana common shares, on a pre-Share Consolidation basis, for each share of Newfield common stock that was issued and outstanding immediately prior to the effective date of the Merger. The Company issued approximately 543.4 million Encana common shares, on a pre-Share Consolidation basis, representing a value of $3.5 billion and paid approximately $5 million in cash in respect of Newfield’s cash-settled incentive awards. Following the acquisition, Newfield’s senior notes totaling $2.45 billion were outstanding. For the nine months ended September 30, 2019, transaction costs of approximately $33 million were included in other (gains) losses, net. Newfield’s operations focus ed on the exploration and development of oil and gas properties located in Anadarko and Arkoma in Oklahoma, Bakken in North Dakota and Uinta in Utah, as well as offshore oil assets located in China. The results of Newfield’s operations have been included in the Condensed Consolidated Financial Statements as of February 14, 2019. Purchase Price Allocation The transaction was accounted for under the acquisition method, which requires that the assets acquired and liabilities assumed be recognized at their fair values as of the acquisition date, with any excess of the purchase price over the estimated fair value of identified net assets acquired recorded as goodwill. The purchase price allocation represents the consideration paid and the fair values of the assets acquired, and liabilities assumed as of the acquisition date. Purchase Price Allocation Consideration: Fair value of Encana's common shares issued (1) $ 3,478 Fair value of Newfield liability awards paid in cash (2) 5 Total Consideration $ 3,483 Assets Acquired: Cash and cash equivalents $ 46 Accounts receivable and accrued revenues 486 Other current assets 50 Proved properties 5,903 Unproved properties 838 Other property, plant and equipment 22 Restricted cash 53 Other assets 105 Goodwill (3) 25 Liabilities Assumed: Accounts payable and accrued liabilities (3) (4) (795 ) Long-term debt (2,603 ) Operating lease liabilities (76 ) Other long-term liabilities (3) (65 ) Asset retirement obligation (184 ) Deferred income taxes (3) (322 ) Total Purchase Price $ 3,483 (1) The fair value was based on the NYSE closing price of the pre-Share Consolidation Encana common shares of $6.40 on February 13, 2019. (2) The fair value was based on a price of $6.50 per notional unit which was determined using a volume-weighted average of the trading price of pre-Share Consolidation Encana common shares on the NYSE on each of the five consecutive trading days ending on the trading day that was three trading days prior to February 13, 2019. (3) Since the completion of the business combination on February 13, 2019, additional information related to pre-acquisition liabilities and contingencies was obtained resulting in a measurement period adjustment. Changes in the fair value estimates comprised an increase in other liabilities of $16 million, of which approximately $11 million is presented in accounts payable and accrued liabilities and $5 million is presented in other long-term liabilities, a decrease in deferred tax liabilities of $4 million and a corresponding increase in goodwill of $12 million. (4) In conjunction with the acquisition, various legal claims and actions arising in the normal course of Newfield’s operations were assumed by the Company. On March 29, 2019, Newfield and its wholly-owned subsidiary entered into an Agreement and Mutual Release with Sapura Energy Berhad, formerly known as SapuraKencana Petroleum Berhad, and Sapura Exploration and Production Inc., formerly known as SapuraKencana Energy Inc. (collectively, “Sapura”), and agreed to settle arbitration claims in the amount of $22.5 million arising from Sapura’s purchase of Newfield’s Malaysian business in February 2014. The settlement amount including legal fees was included in the purchase price allocation as part of the current liabilities assumed at the acquisition date. Although the outcome of any remaining legal claims and actions assumed following the acquisition of Newfield cannot be predicted with certainty, the Company does not expect these matters to have a material adverse effect on the Company’s financial position, cash flows or results of operations. The income approach valuation technique was used for the fair value of assets acquired and liabilities assumed. The carrying amounts of cash and cash equivalents, accounts receivable and accrued revenues, restricted cash, other current assets, and accounts payable and accrued liabilities approximate their fair values due to their nature and/or the short-term maturity of the instruments. The fair values of long-term debt, right-of-use (“ROU”) assets and operating lease liabilities were categorized within Level 2 of the fair value hierarchy and were determined using quoted prices and rates from an available pricing source. The fair values of the proved and unproved properties, other property, plant and equipment, other assets, other long-term liabilities and asset retirement obligation were categorized within Level 3 and were determined using relevant market assumptions, including discount rates, future commodity prices and costs, timing of development activities, projections of oil and gas reserves, and estimates for abandonment and reclamation. Goodwill arose from the Newfield acquisition primarily from the requirement to recognize deferred taxes on the difference between the fair value of the assets acquired and liabilities assumed and the respective carry-over tax basis. Goodwill is not amortized and is not deductible for tax purposes. Unaudited Pro Forma Financial Information The following unaudited pro forma financial information combines the historical financial results of the Company with Newfield and has been prepared as though the acquisition had occurred on January 1, 2019. The pro forma information is not intended to reflect the actual results of operations that would have occurred if the business combination had been completed at the date indicated. In addition, the pro forma information is not intended to be a projection of the Company’s results of operations for any future period. Additionally, pro forma earnings were adjusted to exclude transaction-related costs incurred of approximately $71 million and severance payments made to employees which totaled $134 million for the nine months ended September 30, 2019. The pro forma financial information does not include any cost savings or other synergies from the Merger or any estimated costs that have been incurred to integrate the assets. Ovintiv’s consolidated results for the three and nine months ended September 30, 2020 include the results from Newfield. For the nine months ended September 30 (US$ millions, except per share amounts) 2019 Revenues $ 5,440 Net Earnings (Loss) $ 376 Net Earnings (Loss) per Share (1) Basic & Diluted $ 1.44 (1) Net earnings (loss) per share reflect the Share Consolidation as described in Note 1. Accordingly, the comparative period has been restated.

Acquisitions and Divestitures

Acquisitions and Divestitures	9 Months Ended
	Sep. 30, 2020
Acquisitions And Divestitures [Abstract]
Acquisitions and Divestitures	9 . Acquisitions and Divestitures Three Months Ended Nine Months Ended September 30, September 30, 2020 2019 2020 2019 Acquisitions USA Operations $ 1 $ 25 $ 19 $ 66 Total Acquisitions 1 25 19 66 Divestitures USA Operations (36 ) (171 ) (63 ) (177 ) Canadian Operations (3 ) - (6 ) - Total Divestitures (39 ) (171 ) (69 ) (177 ) Net Acquisitions & (Divestitures) $ (38 ) $ (146 ) $ (50 ) $ (111 ) Acquisitions For the nine months ended September 30, 2020, acquisitions in the USA Operations were $19 million, which primarily included property purchases with oil and liquids rich potential. For the nine months ended September 30, 2019, acquisitions in the USA Operations were $66 million which primarily included seismic purchases, water rights and purchases with oil and liquids rich potential. Divestitures For the nine months ended September 30, 2020, divestitures in the USA and Canadian Operations were $63 million and $6 million, respectively, which primarily included the sale of certain properties that did not complement Ovintiv’s existing portfolio of assets. For the three and nine months ended September 30, 2019, divestitures in the USA Operations were $171 million and $177 million, respectively, which primarily included the sale of the Company’s Arkoma natural gas assets. Amounts received from the Company’s divestiture transactions have been deducted from the respective U.S . and Canadian full cost pools .

Property, Plant and Equipment,

Property, Plant and Equipment, Net	9 Months Ended
	Sep. 30, 2020
Property Plant And Equipment [Abstract]
Property, Plant and Equipment, Net	10 . Property, Plant and Equipment, Net As at September 30, 2020 As at December 31, 2019 Accumulated Accumulated Cost DD&A Net Cost DD&A Net USA Operations Proved properties $ 37,426 $ (31,581 ) $ 5,845 $ 35,870 $ (25,623 ) $ 10,247 Unproved properties 2,980 - 2,980 3,491 - 3,491 Other 32 - 32 19 - 19 40,438 (31,581 ) 8,857 39,380 (25,623 ) 13,757 Canadian Operations Proved properties 15,227 (14,266 ) 961 15,284 (14,320 ) 964 Unproved properties 188 - 188 223 - 223 Other 13 - 13 18 - 18 15,428 (14,266 ) 1,162 15,525 (14,320 ) 1,205 Market Optimization 9 (7 ) 2 9 (7 ) 2 Corporate & Other 833 (631 ) 202 914 (687 ) 227 $ 56,708 $ (46,485 ) $ 10,223 $ 55,828 $ (40,637 ) $ 15,191 USA and Canadian Operations property, plant and equipment include internal costs directly related to exploration, development and construction activities of $133 For the three and nine months ended September 30, 2020, the Company recognized before-tax non-cash ceiling test impairments in the USA Operations of $1,336 million and $4,863 million, respectively (2019 - nil The 12-month average trailing prices used in the ceiling test calculations were based on the benchmark prices presented below. The benchmark prices were adjusted for basis differentials to determine local reference prices, transportation costs and tariffs, heat content and quality. Oil & NGLs Natural Gas WTI Edmonton Condensate Henry Hub AECO ($/bbl) (C$/bbl) ($/MMBtu) (C$/MMBtu) 12-Month Average Trailing Reserves Pricing (1) September 30, 2020 $ 43.69 $ 53.93 $ 1.97 $ 2.01 December 31, 2019 55.93 68.80 2.58 1.76 September 30, 2019 57.76 67.81 2.87 1.52 (1 ) All prices were held constant in all future years when estimating net revenues and reserves. Finance Lease Arrangements The Company has two lease arrangements that are accounted for as finance leases, which include an office building and an offshore production platform. As at September 30, 2020, the total carrying value of assets under finance lease was $34 million ($37 million as at December 31, 2019), net of accumulated amortization of $669 million ($677 million as at December 31, 2019). Long-term liabilities for the finance lease arrangements are included in other liabilities and provisions in the Condensed Consolidated Balance Sheet and are disclosed in Note 13.

Leases

Leases	9 Months Ended
	Sep. 30, 2020
Leases [Abstract]
Leases	11. Leases The following table outlines the Company’s estimated future sublease income as at September 30, 2020. All subleases are classified as operating leases. (undiscounted) 2020 2021 2022 2023 2024 Thereafter Total Sublease Income $ 12 $ 50 $ 46 $ 44 $ 44 $ 543 $ 739 For the three and nine months ended September 30, 2020, operating lease income was $14 million and $40 million, respectively (2019 - $15 million and $41 million, respectively), and variable lease income was $4 million and $13 million, respectively (2019 - $4 million and $13 million, respectively).

Long-Term Debt

Long-Term Debt	9 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Long-Term Debt	1 2 . Long-Term Debt As at As at September 30, December 31, 2020 2019 U.S. Dollar Denominated Debt Revolving credit and term loan borrowings $ 1,150 $ 698 U.S. Unsecured Notes: 3.90% due November 15, 2021 554 600 5.75% due January 30, 2022 605 750 5.625% due July 1, 2024 1,000 1,000 5.375% due January 1, 2026 688 700 8.125% due September 15, 2030 300 300 7.20% due November 1, 2031 350 350 7.375% due November 1, 2031 500 500 6.50% due August 15, 2034 750 750 6.625% due August 15, 2037 462 462 6.50% due February 1, 2038 488 505 5.15% due November 15, 2041 212 244 Total Principal 7,059 6,859 Increase in Value of Debt Acquired 119 149 Unamortized Debt Discounts and Issuance Costs (36 ) (34 ) Total Long-Term Debt $ 7,142 $ 6,974 Current Portion $ - $ - Long-Term Portion 7,142 6,974 $ 7,142 $ 6,974 During the nine months ended September 30, 2020, the Company repurchased approximately $252 million in principal amount of its senior notes in the open market, which included approximately $46 million in principal amount of its 3.9 percent senior notes due in November 2021, approximately $145 million in principal amount of its 5.75 percent senior notes due in January 2022, approximately $12 million in principal amount of its 5.375 percent senior notes due in January 2026, approximately $17 million in principal amount of its 6.5 percent senior notes due in February 2038 and approximately $32 million in principal amount of its 5.15 percent senior notes due in November 2041. For the three and nine months ended September 30, 2020, the aggregate cash payments related to note repurchases were $109 million and $224 million, respectively, plus accrued interest, and net gains of approximately $6 million and $28 million, respectively, were recognized in other (gains) losses, net on the Condensed Consolidated Statement of Earnings. As at September 30, 2020, the Company had outstanding commercial paper of $140 million maturing at various dates with a weighted average interest rate of approximately 0.87 percent. These amounts are supported, and Management expects that they will continue to be supported by revolving credit facilities that have no repayment requirements within the next year and which expire in 2024 . As at September 30, 2020, the Company also had $1,010 million drawn on its revolving credit facilities. As at September 30, 2020, total long-term debt had a carrying value of $7,142 million and a fair value of $6,804 million (as at December 31, 2019 - carrying value of $6,974 million and a fair value of $7,657 million). The estimated fair value of long-term borrowings is categorized within Level 2 of the fair value hierarchy and has been determined based on market information of long-term debt with similar terms and maturity, or by discounting future payments of interest and principal at interest rates expected to be available to the Company at period end.

Other Liabilities and Provision

Other Liabilities and Provisions	9 Months Ended
	Sep. 30, 2020
Other Liabilities Disclosure [Abstract]
Other Liabilities and Provisions	1 3 . Other Liabilities and Provisions As at As at September 30, December 31, 2020 2019 Finance Lease Obligations $ 51 $ 121 Unrecognized Tax Benefits 155 159 Pensions and Other Post-Employment Benefits 123 119 Long-Term Incentive Costs (See Note 19) 23 38 Other Derivative Contracts (See Notes 21, 22) 9 7 Other 16 20 $ 377 $ 464

Asset Retirement Obligation

Asset Retirement Obligation	9 Months Ended
	Sep. 30, 2020
Asset Retirement Obligation Disclosure [Abstract]
Asset Retirement Obligation	1 4 . Asset Retirement Obligation As at As at September 30, December 31, 2020 2019 Asset Retirement Obligation, Beginning of Year $ 614 $ 455 Liabilities Incurred 11 15 Liabilities Acquired (See Note 8) - 184 Liabilities Settled and Divested (157 ) (141 ) Change in Estimated Future Cash Outflows 12 47 Accretion Expense 26 37 Foreign Currency Translation (11 ) 17 Asset Retirement Obligation, End of Period $ 495 $ 614 Current Portion $ 49 $ 189 Long-Term Portion 446 425 $ 495 $ 614

Share Capital

Share Capital	9 Months Ended
	Sep. 30, 2020
Class Of Stock Disclosures [Abstract]
Share Capital	1 5 . Share Capital Authorized As of January 24, 2020, following the completion of the Reorganization, Ovintiv is authorized to issue 775 million shares of common stock, par value $0.01 per share, and 25 million shares of preferred stock, par value $0.01 per share. No shares of preferred stock are outstanding. Issued and Outstanding As at September 30, 2020 As at December 31, 2019 Number (millions) Amount Number (millions) Amount Shares of Common Stock Outstanding, Beginning of Year 259.8 $ 7,061 190.5 $ 4,656 Shares of Common Stock Purchased - - (39.4 ) (1,073 ) Shares of Common Stock Issued - - 108.7 3,478 Reclassification of Share Capital due to the Reorganization (See Note 1) - (7,058 ) - - Shares of Common Stock Outstanding, End of Period 259.8 $ 3 259.8 $ 7,061 In conjunction with the Reorganization as described in Note 1, the amount recognized in share capital in excess of Ovintiv’s established par value of $0.01 per share was reclassified to paid in surplus. Accordingly, approximately $7,058 million was reclassified. On February 13, 2019, the Company completed the acquisition of all the issued and outstanding shares of common stock of Newfield whereby Encana issued approximately 543.4 million common shares, on a pre-Share Consolidation basis, to Newfield shareholders (approximately 108.7 million post-Share Consolidation shares), representing a pre-Share Consolidation exchange ratio of 2.6719 Encana common shares for each share of Newfield common stock held. See Note 8 for further information on the business combination. Substantial Issuer Bid On June 10, 2019, the Company announced its intention to purchase, for cancellation, up to $213 million of common shares through a substantial issuer bid (“SIB”) which commenced on July 8, 2019. On August 29, 2019, the Company purchased the equivalent of approximately 9.5 million post-Share Consolidation shares at a converted price of $22.50 per share, for an aggregate purchase price of approximately $213 million, of which $257 million was charged to share capital and $44 million was credited to paid in surplus. The purchase was made in accordance with the terms and conditions of the SIB, with consideration allocated to share capital equivalent to the average carrying amount of the shares, with the excess of the carrying amount over the purchase consideration credited to paid in surplus. Normal Course Issuer Bid On February 27, 2019, the Company announced that the TSX accepted the Company’s notice of intention to purchase, for cancellation, the equivalent of up to approximately 29.9 million post-Share Consolidation Encana common shares, pursuant to a NCIB over a 12-month period from March 4, 2019 to March 3, 2020. For the nine months ended September 30, 2019 and the twelve months ended December 31, 2019, the Company purchased the equivalent of approximately 29.9 million post-Share Consolidation shares under the NCIB for total consideration of approximately $1,037 million. Of the amount paid, $816 million was charged to share capital and $221 million was charged to retained earnings. All purchases were made in accordance with the NCIB at prevailing market prices plus brokerage fees, with consideration allocated to share capital up to the average carrying amount of the shares, with any excess allocated to retained earnings. Dividends During the three months ended September 30, 2020, the Company declared and paid dividends of $0.09375 per share of Ovintiv common stock totaling $24 million. For the three months ended September 30, 2019, the Company declared and paid dividends of $0.09375 per common share on a post-Share Consolidation basis totaling $24 million. During the nine months ended September 30, 2020, the Company declared and paid dividends of $0.28125 per share of Ovintiv common stock totaling $73 million. For the nine months ended September 30, 2019, the Company declared and paid dividends of $0.28125 per common share on a post-Share Consolidation basis totaling $77 million. On October 28, 2020, the Board of Directors declared a dividend of $0.09375 per share of Ovintiv common stock payable on December 31, 2020 to stockholders of record as of December 15, 2020. Earnings Per Share of Common Stock The following table presents the computation of net earnings (loss) per share of common stock: Three Months Ended Nine Months Ended September 30, September 30, (US$ millions, except per share amounts) 2020 2019 2020 2019 Net Earnings (Loss) $ (1,521 ) $ 149 $ (5,483 ) $ 240 Number of Shares of Common Stock (1) Weighted average shares of common stock outstanding - Basic 259.8 264.6 259.8 261.7 Effect of dilutive securities - - - - Weighted Average Shares of Common Stock Outstanding - Diluted 259.8 264.6 259.8 261.7 Net Earnings (Loss) per Share of Common Stock (1) Basic & Diluted $ (5.85 ) $ 0.56 $ (21.10 ) $ 0.92 (1) Net earnings (loss) per share of common stock and weighted average shares of common stock outstanding reflect the Share Consolidation as described in Note 1. Accordingly, the comparative periods have been restated. Ovintiv Stock Options Ovintiv has share-based compensation plans that allow employees to purchase shares of common stock of the Company. Option exercise prices are not less than the market value of the shares of common stock on the date the options are granted. All options outstanding as at September 30, 2020 have associated Tandem Stock Appreciation Rights (“TSARs”) attached. In lieu of exercising the option, the associated TSARs give the option holder the right to receive a cash payment equal to the excess of the market price of Ovintiv’s shares of common stock at the time of the exercise over the original grant price. Historically, most holders of options with TSARs have elected to exercise their stock options as a Stock Appreciation Right (“SAR”) in exchange for a cash payment. As a result, outstanding TSARs are not considered potentially dilutive securities. Ovintiv Restricted Share Units Ovintiv has a share-based compensation plan whereby eligible employees and Directors are granted Restricted Share Units (“RSUs”). An RSU is a conditional grant to receive the equivalent of a share of common stock upon vesting of the RSUs and in accordance with the terms and conditions of the compensation plan and grant agreements. The Company currently settles vested RSUs in cash. As a result, RSUs are currently not considered potentially dilutive securities.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income	9 Months Ended
	Sep. 30, 2020
Accumulated Other Comprehensive Income Loss Net Of Tax [Abstract]
Accumulated Other Comprehensive Income	1 6 . Three Months Ended Nine Months Ended September 30, September 30, 2020 2019 2020 2019 Foreign Currency Translation Adjustment Balance, Beginning of Period $ 957 $ 1,014 $ 1,004 $ 976 Change in Foreign Currency Translation Adjustment 26 (6 ) (21 ) 32 Balance, End of Period $ 983 $ 1,008 $ 983 $ 1,008 Pension and Other Post-Employment Benefit Plans Balance, Beginning of Period $ 43 $ (2 ) $ 42 $ 22 Other Comprehensive Income Before Reclassifications: Net prior service costs from plan amendment (See Note 20) - - - (29 ) Income taxes - - - 6 Amounts Reclassified from Other Comprehensive Income: Reclassification of net actuarial (gains) and losses to net earnings (See Note 20) (2 ) - (6 ) (1 ) Income taxes - - 1 - Curtailment in net defined periodic benefit cost (See Note 20) - - 5 - Income taxes - - (1 ) - Balance, End of Period $ 41 $ (2 ) $ 41 $ (2 ) Total Accumulated Other Comprehensive Income $ 1,024 $ 1,006 $ 1,024 $ 1,006 During the nine months ended September 30, 2019, the Company amended the other post-employment benefits arrangements in conjunction with the integration of the Newfield business acquired. The plan amendment resulted in an increase to pension liabilities with a corresponding loss recognized in other comprehensive income.

Variable Interest Entities

Variable Interest Entities	9 Months Ended
	Sep. 30, 2020
Variable Interest Entity Not Primary Beneficiary Disclosures [Abstract]
Variable Interest Entities	1 7 . Variable Interest Entities Veresen Midstream Limited Partnership Veresen Midstream Limited Partnership (“VMLP”) provides gathering, compression and processing services under various agreements related to the Company’s development of liquids and natural gas production in the Montney play. As at September 30, 2020, VMLP provides approximately 1,213 MMcf/d of natural gas gathering and compression and 932 MMcf/d of natural gas processing under long-term service agreements with remaining terms ranging from 11 to 25 years and have various renewal terms providing up to a potential maximum of 10 years. Ovintiv has determined that VMLP is a VIE and that Ovintiv holds variable interests in VMLP. Ovintiv is not the primary beneficiary as the Company does not have the power to direct the activities that most significantly impact VMLP’s economic performance. These key activities relate to the construction, operation, maintenance and marketing of the assets owned by VMLP. The variable interests arise from certain terms under the various long-term service agreements and include: i) a take or pay for volumes in certain agreements; ii) an operating fee of which a portion can be converted into a fixed fee once VMLP assumes operatorship of certain assets; and iii) a potential payout of minimum costs in certain agreements. The potential payout of minimum costs will be assessed in the eighth year of the assets’ service period and is based on whether there is an overall shortfall of total system cash flows from natural gas gathered and compressed under certain agreements. The potential payout amount can be reduced in the event VMLP markets unutilized capacity to third party users. Ovintiv is not required to provide any financial support or guarantees to VMLP. As a result of Ovintiv’s involvement with VMLP, the maximum total exposure, which represents the potential exposure to Ovintiv in the event the assets under the agreements are deemed worthless, is estimated to be $1,858 million as at September 30, 2020. The estimate comprises the take or pay volume commitments and the potential payout of minimum costs. The take or pay volume commitments associated with certain gathering and processing assets are included in Note 24 under Transportation and Processing. The potential payout requirement is highly uncertain as the amount is contingent on future production estimates, pace of development and the amount of capacity contracted to third parties. As at September 30 , 20 20 , accounts payable and accrued liabilities included $ 0.6 million related to the take or pay commitment.

Restructuring Charges

Restructuring Charges	9 Months Ended
	Sep. 30, 2020
Restructuring Charges [Abstract]
Restructuring Charges	18 . Restructuring Charges In February 2019, in conjunction with the Newfield business combination as described in Note 8, the Company announced workforce reductions to better align staffing levels and organizational structure with the Company’s strategy. During 2019, the Company incurred total restructuring charges of $138 million, before tax, primarily related to severance costs. In June 2020, Ovintiv undertook a plan to reduce its workforce by approximately 25 percent as part of a company-wide reorganization to better align staffing levels and organizational structure with the Company’s planned activity levels. During the three and nine months ended September 30, 2020, the Company incurred total restructuring charges of $7 million and $88 million, respectively, before tax, primarily related to severance costs, of which $14 million remains accrued as at September 30, 2020. The majority of the remaining amounts accrued are expected to be paid in 2021 and total transition and severance costs are expected to be approximately $93 million before tax. Restructuring charges are included in administrative expense presented in the Corporate and Other segment in the Condensed Consolidated Statement of Earnings. Three Months Ended Nine Months Ended September 30, September 30, 2020 2019 2020 2019 Severance and Benefits $ 6 $ 4 $ 86 $ 132 Outplacement, Moving and Other Expenses 1 - 2 2 Restructuring Expenses $ 7 $ 4 $ 88 $ 134 As at As at September 30, December 31, 2020 2019 Outstanding Restructuring Accrual, Beginning of Year $ 8 $ - Restructuring Expenses Incurred 88 138 Restructuring Costs Paid (82 ) (130 ) Outstanding Restructuring Accrual, End of Period (1) $ 14 $ 8 (1) Included in accounts payable and accrued liabilities in the Condensed Consolidated Balance Sheet.

Compensation Plans

Compensation Plans	9 Months Ended
	Sep. 30, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Compensation Plans	1 9 . Compensation Plans Ovintiv has a number of compensation arrangements under which the Company awards various types of long-term incentive grants to eligible employees and Directors. They may include TSARs, SARs, Performance Share Units (“PSUs”), Deferred Share Units (“DSUs”) and RSUs. These compensation arrangements are share-based. Ovintiv accounts for TSARs, SARs, PSUs and RSUs as cash-settled share-based payment transactions and, accordingly, accrues compensation costs over the vesting period based on the fair value of the rights determined using the Black-Scholes-Merton and other fair value models. The following weighted average assumptions were used to determine the fair value of the share units outstanding : As at September 30, 2020 As at September 30, 2019 US$ Share Units C$ Share Units US$ Share Units C$ Share Units Risk Free Interest Rate 0.22% 0.22% 1.58% 1.58% Dividend Yield 4.60% 4.66% 1.63% 1.64% Expected Volatility Rate (1) 102.43% 101.65% 44.14% 42.77% Expected Term 2.5 yrs 2.0 yrs 2.9 yrs 2.6 yrs Market Share Price (2) US$8.16 C$10.89 US$23.00 C$30.35 ( 1) Volatility was estimated using historical rates. (2) Market share price reflects the Share Consolidation as described in Note 1. Accordingly, the comparative period has been restated. The Company has recognized the following share-based compensation costs: Three Months Ended Nine Months Ended September 30, September 30, 2020 2019 2020 2019 Total Compensation Costs of Transactions Classified as Cash-Settled $ 4 $ 2 $ (12 ) $ 46 Less: Total Share-Based Compensation Costs Capitalized (2 ) (1 ) 3 (16 ) Total Share-Based Compensation Expense (Recovery) $ 2 $ 1 $ (9 ) $ 30 Recognized on the Condensed Consolidated Statement of Earnings in: Operating $ 1 $ - $ (3 ) $ 12 Administrative 1 1 (6 ) 18 $ 2 $ 1 $ (9 ) $ 30 As at September 30, 2020, the liability for share-based payment transactions totaled $47 million ($78 million as at December 31, 2019), of which $24 million ($40 million as at December 31, 2019) is recognized in accounts payable and accrued liabilities and $23 million ($38 million as at December 31, 2019) is recognized in other liabilities and provisions in the Condensed Consolidated Balance Sheet. As at September 30, 2020 As at December 31, 2019 Liability for Cash-Settled Share-Based Payment Transactions: Unvested $ 42 $ 65 Vested 5 13 $ 47 $ 78 The following units were granted primarily in conjunction with the Company’s annual grant of long-term incentive awards. The PSUs and RSUs were granted at the volume-weighted average trading price of shares of Ovintiv common stock for the five days prior to the grant date. The RSUs issued in 2020 vest at one-third Nine Months Ended September 30, 2020 (thousands of units) RSUs 6,698 PSUs 2,293 DSUs 65

Pension and Other Post-Employme

Pension and Other Post-Employment Benefits	9 Months Ended
	Sep. 30, 2020
General Discussion Of Pension And Other Postretirement Benefits [Abstract]
Pension and Other Post-Employment Benefits	20 . Pension and Other Post-Employment Benefits The Company has recognized total benefit plans expense which includes pension benefits and other post-employment benefits (“OPEB”) for the nine months ended September 30 as follows: Pension Benefits OPEB Total 2020 2019 2020 2019 2020 2019 Net Defined Periodic Benefit Cost $ - $ 1 $ 2 $ 13 $ 2 $ 14 Defined Contribution Plan Expense 24 18 - - 24 18 Total Benefit Plans Expense $ 24 $ 19 $ 2 $ 13 $ 26 $ 32 Of the total benefit plans expense, $22 million (2019 - $20 million) was included in operating expense and $5 million (2019 - $6 million) was included in administrative expense. Excluding service costs, net defined periodic benefit gains of $1 million (2019 - losses of $6 million) were recorded in other (gains) losses, net. The net defined periodic benefit cost for the nine months ended September 30 is as follows: Defined Benefits OPEB Total 2020 2019 2020 2019 2020 2019 Service Cost $ - $ 1 $ 3 $ 7 $ 3 $ 8 Interest Cost 4 5 2 3 6 8 Expected Return on Plan Assets (5 ) (5 ) - - (5 ) (5 ) Amounts Reclassified from Accumulated Other Comprehensive Income: Amortization of net actuarial (gains) and losses 1 - (7 ) (1 ) (6 ) (1 ) Curtailment from net prior service costs - - 5 - 5 - Curtailment - - (1 ) 4 (1 ) 4 Total Net Defined Periodic Benefit Cost (1) $ - $ 1 $ 2 $ 13 $ 2 $ 14 (1) The components of total net defined periodic benefit cost, excluding the service cost component, are included in other (gains) losses, net.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements	21 . Fair Value Measurements The fair values of cash and cash equivalents, accounts receivable and accrued revenues, and accounts payable and accrued liabilities approximate their carrying amounts due to the short-term maturity of those instruments. The fair values of restricted cash and marketable securities included in other assets approximate their carrying amounts due to the nature of the instruments held. Recurring fair value measurements are performed for risk management assets and liabilities and other derivative contracts, as discussed further in Note 22. These items are carried at fair value in the Condensed Consolidated Balance Sheet and are classified within the three levels of the fair value hierarchy in the following tables. Fair value changes and settlements for amounts related to risk management assets and liabilities are recognized in revenues and foreign exchange gains and losses according to their purpose. As at September 30, 2020 Level 1 Quoted Prices in Active Markets Level 2 Other Observable Inputs Level 3 Significant Unobservable Inputs Total Fair Value Netting (1) Carrying Amount Risk Management Assets Commodity Derivatives: Current assets $ - $ 143 $ 86 $ 229 $ (69 ) $ 160 Long-term assets - 14 - 14 (8 ) 6 Foreign Currency Derivatives: Current assets - 10 - 10 - 10 Long-term assets - 2 - 2 - 2 Risk Management Liabilities Commodity Derivatives: Current liabilities $ 2 $ 129 $ 3 $ 134 $ (69 ) $ 65 Long-term liabilities - 158 4 162 (8 ) 154 Other Derivative Contracts Current in accounts payable and accrued liabilities $ - $ 2 $ - $ 2 $ - $ 2 Long-term in other liabilities and provisions - 9 - 9 - 9 As at December 31, 2019 Level 1 Quoted Prices in Active Markets Level 2 Other Observable Inputs Level 3 Significant Unobservable Inputs Total Fair Value Netting (1) Carrying Amount Risk Management Assets Commodity Derivatives: Current assets $ - $ 202 $ - $ 202 $ (67 ) $ 135 Long-term assets - 6 - 6 (4 ) 2 Foreign Currency Derivatives: Current assets - 13 - 13 - 13 Risk Management Liabilities Commodity Derivatives: Current liabilities $ 1 $ 139 $ 41 $ 181 $ (67 ) $ 114 Long-term liabilities - 61 11 72 (4 ) 68 Other Derivative Contracts Current in accounts payable and accrued liabilities $ - $ 2 $ - $ 2 $ - $ 2 Long-term in other liabilities and provisions - 7 - 7 - 7 (1) Netting to offset derivative assets and liabilities where the legal right and intention to offset exists, or where counterparty master netting arrangements contain provisions for net settlement. The Company’s Level 1 and Level 2 risk management assets and liabilities consist of commodity fixed price contracts, NYMEX fixed price swaptions, NYMEX three-way options, NYMEX costless collars, NYMEX call options, foreign currency swaps and basis swaps with terms to 2025. Level 2 also includes finan cial guarantee contracts as discussed in Note 22 . The fair values of these contracts are based on a market approach and are estimated using inputs which are either directly or indirectly observable from active markets , such as exchange and other published prices, broker quotes and observable trading activity throughout the term of the instruments . Level 3 Fair Value Measurements As at September 30, 2020, the Company’s Level 3 risk management assets and liabilities consist of WTI three-way options, WTI costless collars and WTI sold payer swaptions with terms to 2021. The WTI three-way options are a combination of a sold call, bought put and a sold put. The WTI costless collars are a combination of a sold call and a bought put. These contracts allow the Company to participate in the upside of commodity prices to the ceiling of the call option and provide the Company with complete (collars) or partial (three-way) downside price protection through the put options. The sold payer swaptions give the counterparty the right to extend to 2021 certain 2020 WTI fixed price swaps. The fair values of these contracts are based on the income approach and are modelled using observable and unobservable inputs such as implied volatility. The unobservable inputs are obtained from third parties whenever possible and reviewed by the Company for reasonableness. A summary of changes in Level 3 fair value measurements for risk management positions is presented below: Nine Months Ended September 30, 2020 2019 Balance, Beginning of Year $ (52 ) $ 139 Total Gains (Losses) 214 24 Purchases, Sales, Issuances and Settlements: Purchases, sales and issuances - - Settlements (83 ) (49 ) Transfers Out of Level 3 - - Balance, End of Period $ 79 $ 114 Change in Unrealized Gains (Losses) During the Period Included in Net Earnings (Loss) $ 131 $ (25 ) Quantitative information about unobservable inputs used in Level 3 fair value measurements is presented below as at September 30, 2020: Valuation Technique Unobservable Input Range Weighted Average (1) Risk Management - WTI Options Option Model Implied Volatility 33% - 62% 42% (1) Unobservable inputs were weighted by the relative fair value of the instruments. A 10 percent increase or decrease in implied volatility for the WTI options would cause an approximate corresponding $5 million ($8 million as at December 31, 2019) increase or decrease to net risk management assets and liabilities.

Financial Instruments and Risk

Financial Instruments and Risk Management	9 Months Ended
	Sep. 30, 2020
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Financial Instruments and Risk Management	22 . Financial Instruments and Risk Management A) Financial Instruments Ovintiv’s financial assets and liabilities are recognized in cash and cash equivalents, accounts receivable and accrued revenues, other assets, accounts payable and accrued liabilities, risk management assets and liabilities, long-term debt, and other liabilities and provisions. B) Risk Management Activities Ovintiv uses derivative financial instruments to manage its exposure to cash flow variability from commodity prices and fluctuating foreign currency exchange rates. The Company does not apply hedge accounting to any of its derivative financial instruments. As a result, gains and losses from changes in the fair value are recognized in net earnings. Commodity Price Risk Commodity price risk arises from the effect that fluctuations in future commodity prices may have on future cash flows. To partially mitigate exposure to commodity price risk, the Company has entered into various derivative financial instruments. The use of these derivative instruments is governed under formal policies and is subject to limits established by the Board of Directors. Crude Oil and NGLs - To partially mitigate crude oil and NGL commodity price risk, the Company uses WTI-based contracts such as fixed price contracts, fixed price swaptions, options and costless collars. The Company has also entered into basis swaps to manage against widening price differentials between various production areas and benchmark price points. Natural Gas - To partially mitigate natural gas commodity price risk, the Company uses NYMEX-based contracts such as fixed price contracts, fixed price swaptions, options and costless collars. The Company has also entered into basis swaps to manage against widening price differentials between various production areas and benchmark price points. Foreign Exchange Risk Foreign exchange risk arises from changes in foreign currency exchange rates that may affect the fair value or future cash flows of the Company’s financial assets or liabilities. To partially mitigate the effect of foreign exchange fluctuations on future commodity revenues and expenses, the Company may enter into foreign currency derivative contracts. As at September 30, 2020, the Company has entered into $215 million notional U.S. dollar denominated currency swaps at an average exchange rate of US$0.7451 to C$1, which mature monthly through the remainder of 2020 and $350 million notional U.S. dollar denominated currency swaps at an average exchange rate of US$0.7289 to C$1, which mature monthly throughout 2021. Risk Management Positions as at September 30 , 2020 Notional Volumes Term Average Price Fair Value Crude Oil and NGL Contracts US$/bbl Fixed Price Contracts WTI Fixed Price 89.0 Mbbls/d 2020 52.95 $ 101 WTI Fixed Price 20.0 Mbbls/d 2021 44.08 12 Propane Fixed Price 20.0 Mbbls/d 2020 17.94 (6 ) Butane Fixed Price 8.0 Mbbls/d 2020 23.54 (1 ) Iso-Butane Fixed Price 3.3 Mbbls/d 2020 24.36 (1 ) Ethane Fixed Price 1.0 Mbbls/d 2020 5.25 - WTI Fixed Price Swaptions (1) 10.0 Mbbls/d 2021 58.00 - WTI Three-Way Options Sold call / bought put / sold put 76.0 Mbbls/d 2020 61.46 / 53.36 / 43.36 62 Sold call / bought put / sold put 37.0 Mbbls/d 2021 50.27 / 39.61 / 29.39 8 WTI Costless Collars Sold call / bought put 15.0 Mbbls/d 2020 68.71 / 50.00 14 Sold call / bought put 15.0 Mbbls/d 2021 45.84 / 35.00 (5 ) Basis Contracts (2) 2020 (20 ) 2021 (1 ) Other Crude Financial Positions (3 ) Crude Oil and NGLs Fair Value Position 160 Natural Gas Contracts US$/Mcf Fixed Price Contracts NYMEX Fixed Price 793 MMcf/d 2020 2.65 6 NYMEX Fixed Price 165 MMcf/d 2021 2.51 (24 ) Fixed Price Swaptions (3) NYMEX Fixed Price Swaptions 165 MMcf/d 2022 2.51 (20 ) NYMEX Three-Way Options Sold call / bought put / sold put 330 MMcf/d 2020 2.72 / 2.60 / 2.25 (1 ) Sold call / bought put / sold put 730 MMcf/d 2021 3.35 / 2.87 / 2.49 (17 ) NYMEX Costless Collars Sold call / bought put 55 MMcf/d 2020 2.88 / 2.50 - NYMEX Call Options Sold call 230 MMcf/d 2020 3.25 - Sold call 330 MMcf/d 2022 2.38 (54 ) Basis Contracts (4) 2020 (13 ) 2021 (33 ) 2022 - 2025 (56 ) Other Financial Positions 1 Natural Gas Fair Value Position (211 ) Net Premiums Received on Unexpired Options (2 ) Other Derivative Contracts Fair Value Position (11 ) Foreign Currency Contracts Fair Value Position (5) 2020 - 2021 12 Total Fair Value Position and Net Premiums Received $ (52 ) (1) WTI Fixed Price Swaptions give the counterparty the option to extend certain 2020 Fixed Price swaps to 2021. (2) Ovintiv has entered into crude and NGL differential swaps associated with Canadian condensate, Midland, Magellan East Houston, Brent, Mt. Belvieu, Conway and WTI. (3) NYMEX Fixed Price Swaptions give the counterparty the option to extend certain 2021 Fixed Price swaps to 2022. ( 4 ) Ovintiv has entered into natural gas basis swaps associated with AECO, Dawn, Chicago, Malin, Waha, Houston Ship Channel and NYMEX. ( 5 ) Ovintiv has entered into U.S. dollar denominated fixed-for-floating average currency swaps to protect against fluctuations between the Canadian and U.S. dollars. Earnings Impact of Realized and Unrealized Gains (Losses) on Risk Management Positions Three Months Ended Nine Months Ended September 30, September 30, 2020 2019 2020 2019 Realized Gains (Losses) on Risk Management Commodity and Other Derivatives: Revenues (1) $ 89 $ 122 $ 605 $ 301 Foreign Currency Derivatives: Foreign exchange 2 2 (7 ) 1 $ 91 $ 124 $ 598 $ 302 Unrealized Gains (Losses) on Risk Management Commodity and Other Derivatives: Revenues (2) $ (243 ) $ (41 ) $ (18 ) $ (385 ) Foreign Currency Derivatives: Foreign exchange 15 (11 ) (1 ) 26 $ (228 ) $ (52 ) $ (19 ) $ (359 ) Total Realized and Unrealized Gains (Losses) on Risk Management, net Commodity and Other Derivatives: Revenues (1) (2) $ (154 ) $ 81 $ 587 $ (84 ) Foreign Currency Derivatives: Foreign exchange 17 (9 ) (8 ) 27 $ (137 ) $ 72 $ 579 $ (57 ) (1) Includes realized gains of nil and $2 million for the three and nine months ended September 30, 2020, respectively (2019 - gains of $2 million and $5 million, respectively), related to other derivative contracts. (2) Includes unrealized losses of nil and $4 million for the three and nine months ended September 30, 2020, respectively (2019 - losses of nil and $1 million, respectively), related to other derivative contracts. Reconciliation of Unrealized Risk Management Positions from January 1 to September 30 2020 2019 Fair Value Total Unrealized Gain (Loss) Total Unrealized Gain (Loss) Fair Value of Contracts, Beginning of Year $ (41 ) Change in Fair Value of Contracts in Place at Beginning of Year and Contracts Entered into During the Period 579 $ 579 $ (57 ) Settlement of Other Derivative Contracts 2 Amortization of Option Premiums During the Period 6 Fair Value of Contracts Realized During the Period (598 ) (598 ) (302 ) Fair Value of Contracts and Net Premiums Received, End of Period $ (52 ) $ (19 ) $ (359 ) Risk management assets and liabilities arise from the use of derivative financial instruments and are measured at fair value. See Note 21 for a discussion of fair value measurements. Unrealized Risk Management Positions As at As at September 30, December 31, 2020 2019 Risk Management Assets Current $ 170 $ 148 Long-term 8 2 178 150 Risk Management Liabilities Current 65 114 Long-term 154 68 219 182 Other Derivative Contracts Current in accounts payable and accrued liabilities 2 2 Long-term in other liabilities and provisions 9 7 Net Risk Management Assets (Liabilities) and Other Derivative Contracts $ (52 ) $ (41 ) C) Credit Risk Credit risk arises from the potential that the Company may incur a loss if a counterparty to a financial instrument fails to meet its obligation in accordance with agreed terms. While exchange-traded contracts are subject to nominal credit risk due to the financial safeguards established by the NYSE and the TSX, over-the-counter traded contracts expose Ovintiv to counterparty credit risk. This credit risk exposure is mitigated through the use of credit policies approved by the Board of Directors governing the Company’s credit portfolio including credit practices that limit transactions according to counterparties’ credit quality. Mitigation strategies may include master netting arrangements, requesting collateral, purchasing credit insurance and/or transacting credit derivatives. The Company executes commodity derivative financial instruments under master agreements that have netting provisions that provide for offsetting payables against receivables. As a result of netting provisions, the Company’s maximum exposure to loss under derivative financial instruments due to credit risk is limited to the net amounts due from the counterparties under the derivative contracts, as disclosed in Note 21. As at September 30, 2020, the Company had no significant credit derivatives in place and held no collateral. As at September 30, 2020, cash equivalents include high-grade, short-term securities, placed primarily with financial institutions and companies with strong investment grade ratings. Any foreign currency agreements entered into are with major financial institutions that have investment grade credit ratings. A substantial portion of the Company’s accounts receivable are with customers and working interest owners in the oil and gas industry and are subject to normal industry credit risks. As at September 30, 2020, approximately 97 percent (95 percent as at December 31, 2019) of Ovintiv’s accounts receivable and financial derivative credit exposures were with investment grade counterparties. As at September 30, 2020, Ovintiv had four counterparties whose net settlement position individually accounted for more than 10 percent of the fair value of the outstanding in-the-money net risk management contracts by counterparty. These counterparties accounted for 23 percent, 15 percent, 12 percent and 12 percent of the fair value of the outstanding in-the-money net risk management contracts. As at December 31, 2019, the Company had six counterparties whose net settlement position accounted for 26 percent, 13 percent, 12 percent, 12 percent, 11 percent and 11 percent of the fair value of the outstanding in-the-money net risk management contracts. During 2015 and 2017, the Company entered into agreements resulting from divestitures, which may require the Company to fulfill certain payment obligations on the take or pay volume commitments assumed by the purchasers. The circumstances that would require the Company to perform under the agreements include events where a purchaser fails to make payment to the guaranteed party and/or a purchaser is subject to an insolvency event. The agreements have remaining terms from one to four years with a fair value recognized of $11 million as at September 30, 2020 ($9 million as at December 31, 2019). The maximum potential amount of undiscounted future payments is $ 95 million as at September 30 , 2020 , and is considered unlikely.

Supplementary Information

Supplementary Information	9 Months Ended
	Sep. 30, 2020
Supplemental Cash Flow Elements [Abstract]
Supplementary Information	2 3 . Supplementary Information Supplemental disclosures to the Condensed Consolidated Statement of Cash Flows are presented below: A) Net Change in Non-Cash Working Capital Three Months Ended Nine Months Ended September 30, September 30, 2020 2019 2020 2019 Operating Activities Accounts receivable and accrued revenues $ 78 $ 61 $ 289 $ 178 Accounts payable and accrued liabilities 42 (82 ) (212 ) (66 ) Current portion of operating lease liabilities (4 ) (9 ) (10 ) 52 Income tax receivable and payable 26 (2 ) 39 (34 ) $ 142 $ (32 ) $ 106 $ 130 B) Non-Cash Activities Three Months Ended Nine Months Ended September 30, September 30, 2020 2019 2020 2019 Non-Cash Investing Activities Asset retirement obligation incurred (See Note 14) $ 2 $ 2 $ 11 $ 13 Asset retirement obligation change in estimated future cash outflows (See Note 14) (10 ) - 12 - Property, plant and equipment accruals 68 (80 ) (62 ) (33 ) Capitalized long-term incentives 2 1 (7 ) (31 ) Property additions/dispositions (swaps) 212 63 229 66 New ROU operating lease assets and liabilities (5 ) (1 ) (6 ) (11 ) Non-Cash Financing Activities Common shares issued in conjunction with the Newfield business combination (See Note 8) $ - $ - $ - $ (3,478 ) On September 1, 2020, Ovintiv closed an agreement with PetroChina Canada Ltd. (“PCC”) to terminate its joint venture with PCC and transfer the ownership and operation of certain Duvernay shale assets in west-central Alberta. Ovintiv and PCC have agreed to partition the Duvernay acreage and associated infrastructure as each company will independently own and operate their respective interests in the future. For the three and nine months ended September 30, 2020, property additions/dispositions (swaps) includes a $203 million non-cash swap related to the Duvernay partition.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2020
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	2 4 . Commitments and Contingencies Commitments The following table outlines the Company’s commitments as at September 30, 2020: Expected Future Payments (undiscounted) 2020 2021 2022 2023 2024 Thereafter Total Transportation and Processing $ 173 $ 675 $ 644 $ 541 $ 433 $ 2,305 $ 4,771 Drilling and Field Services 37 12 1 - - 1 51 Building Leases 3 14 11 7 6 8 49 Total $ 213 $ 701 $ 656 $ 548 $ 439 $ 2,314 $ 4,871 O perating leases with terms greater than one year are not included in the commitments table above. The table above includes s hort-term leases with contract terms less than 12 months, such as drilling rigs and field office leases, as well as non-lease operating cost components associated with building leases . Included within transportation and processing in the table above are certain commitments associated with midstream service agreements with VMLP as described in Note 17. Divestiture transactions can reduce certain commitments disclosed above. Contingencies Ovintiv is involved in various legal claims and actions arising in the normal course of the Company’s operations. Although the outcome of these claims cannot be predicted with certainty, the Company does not expect these matters to have a material adverse effect on Ovintiv’s financial position, cash flows or results of operations. Management’s assessment of these matters may change in the future as certain of these matters are in early stages or are subject to a number of uncertainties. For material matters that the Company believes an unfavorable outcome is reasonably possible, the Company discloses the nature and a range of potential exposures. If an unfavorable outcome were to occur, there exists the possibility of a material impact on the Company’s consolidated net earnings or loss for the period in which the effect becomes reasonably estimable. The Company accrues for such items when a liability is both probable and the amount can be reasonably estimated. Such accruals are based on the Company’s information known about the matters, estimates of the outcomes of such matters and experience in handling similar matters.

Basis of Presentation and Pri_2

Basis of Presentation and Principles of Consolidation (Policies)	9 Months Ended
	Sep. 30, 2020
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Basis of Presentation and Principles of Consolidation	On January 24, 2020, Encana Corporation (“Encana”) completed a corporate reorganization, which included a plan of arrangement (the “Arrangement”) that involved, among other things, a share consolidation by Encana on the basis of one post-consolidation share for each five The Arrangement, as described above, was accounted for as a reorganization of entities under common control. Accordingly, the resulting transactions were recognized using historical carrying amounts. On January 24, 2020, Ovintiv became the reporting entity upon completion of the Reorganization. In accordance with the Share Consolidation, all common shares and per-share amounts disclosed herein reflect the post-Share Consolidation shares unless otherwise specified; comparative periods have been restated accordingly. References to shares of common stock refer to the shares of common stock of Ovintiv Inc. for any periods after the completion of the Arrangement, and to the common shares of Encana Corporation for any periods before January 24, 2020. Following the U.S. Domestication, on January 24, 2020, the functional currency of Ovintiv Inc. became U.S. dollars, and accordingly, the financial results herein are consolidated and reported in U.S. dollars . The interim Condensed Consolidated Financial Statements include the accounts of Ovintiv and entities in which it holds a controlling interest. All intercompany balances and transactions are eliminated on consolidation. Undivided interests in oil and natural gas exploration and production joint ventures and partnerships are consolidated on a proportionate basis. Investments in non-controlled entities over which the Company has the ability to exercise significant influence are accounted for using the equity method. The interim Condensed Consolidated Financial Statements are prepared in conformity with U.S. GAAP and the rules and regulations of the SEC. Pursuant to these rules and regulations, certain information and disclosures normally required under U.S. GAAP have been condensed or have been disclosed on an annual basis only. Accordingly, the interim Condensed Consolidated Financial Statements should be read in conjunction with the annual audited Consolidated Financial Statements and the notes thereto for the year ended December 31, 2019, which are included in Item 8 of Ovintiv’s 2019 Annual Report on Form 10-K. The interim Condensed Consolidated Financial Statements have been prepared following the same accounting policies and methods of computation as the annual audited Consolidated Financial Statements for the year ended December 31, 2019, except as noted below in Note 2. The disclosures provided below are incremental to those included with the annual audited Consolidated Financial Statements. These unaudited interim Condensed Consolidated Financial Statements reflect, in the opinion of Management, all normal and recurring adjustments necessary to present fairly the financial position and results of the Company as at and for the periods presented. Interim condensed consolidated financial results are not necessarily indicative of consolidated financial results expected for the fiscal year.
Recent Accounting Pronouncements	Changes in Accounting Policies and Practices On January 1, 2020, Ovintiv adopted the following ASUs issued by the FASB, which have not had a material impact on the interim Condensed Consolidated Financial Statements: • ASU 2017-04, “Simplifying the Test for Goodwill Impairment”. The amendment eliminates the second step of the goodwill impairment test which requires the Company to measure the impairment based on the excess amount of the carrying value of the reporting unit’s goodwill over the implied fair value of its goodwill. Under this amendment, the goodwill impairment will be measured based on the excess amount of the reporting unit’s carrying value over its respective fair value. The amendment has been applied prospectively. • ASU 2016-13, “Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments” under Topic 326. The standard amends the impairment model which requires utilizing a forward-looking expected loss methodology in place of the incurred loss methodology for financial instruments, including trade receivables. The standard requires entities to consider a broader range of information to estimate expected credit losses, resulting in earlier recognition of credit losses. The standard has been applied using the modified retrospective approach.

Segmented Information (Tables)

Segmented Information (Tables)	9 Months Ended
	Sep. 30, 2020
Segment Reporting [Abstract]
Segment and Geographic Information	Results of Operations (For the three months ended September 30) Segment and Geographic Information USA Operations Canadian Operations China Operations (1) 2020 2019 2020 2019 2020 2019 Revenues Product and service revenues $ 670 $ 1,097 $ 310 $ 377 $ - $ 3 Gains (losses) on risk management, net 38 35 49 87 - - Sublease revenues - - - - - - Total Revenues 708 1,132 359 464 - 3 Operating Expenses Production, mineral and other taxes 43 63 4 3 - - Transportation and processing 109 125 203 211 - - Operating 104 151 24 32 - 4 Depreciation, depletion and amortization 299 438 99 100 - - Impairments 1,336 - - - - - Total Operating Expenses 1,891 777 330 346 - 4 Operating Income (Loss) $ (1,183 ) $ 355 $ 29 $ 118 $ - $ (1 ) Market Optimization Corporate & Other Consolidated 2020 2019 2020 2019 2020 2019 Revenues Product and service revenues $ 346 $ 294 $ - $ - $ 1,326 $ 1,771 Gains (losses) on risk management, net 2 - (243 ) (41 ) (154 ) 81 Sublease revenues - - 18 19 18 19 Total Revenues 348 294 (225 ) (22 ) 1,190 1,871 Operating Expenses Production, mineral and other taxes - - - - 47 66 Transportation and processing 53 62 - - 365 398 Operating 5 6 - - 133 193 Purchased product 322 264 - - 322 264 Depreciation, depletion and amortization - - 8 7 406 545 Impairments - - - - 1,336 - Accretion of asset retirement obligation - - 8 9 8 9 Administrative - - 79 81 79 81 Total Operating Expenses 380 332 95 97 2,696 1,556 Operating Income (Loss) $ (32 ) $ (38 ) $ (320 ) $ (119 ) (1,506 ) 315 Other (Income) Expenses Interest 97 99 Foreign exchange (gain) loss, net (25 ) 30 (Gain) loss on divestitures, net - (5 ) Other (gains) losses, net (18 ) (1 ) Total Other (Income) Expenses 54 123 Net Earnings (Loss) Before Income Tax (1,560 ) 192 Income tax expense (recovery) (39 ) 43 Net Earnings (Loss) $ (1,521 ) $ 149 (1 ) The Company terminated its production sharing contract with CNOOC and exited its China Operations effective July 31, 2019. Results of Operations (For the nine months ended September 30) Segment and Geographic Information USA Operations Canadian Operations China Operations (1) 2020 2019 2020 2019 2020 2019 Revenues Product and service revenues $ 1,900 $ 3,062 $ 906 $ 1,222 $ - $ 37 Gains (losses) on risk management, net 412 128 188 174 - - Sublease revenues - - - - - - Total Revenues 2,312 3,190 1,094 1,396 - 37 Operating Expenses Production, mineral and other taxes 115 176 11 11 - - Transportation and processing 345 340 614 640 - - Operating 364 414 75 96 - 16 Depreciation, depletion and amortization 1,092 1,141 319 287 - - Impairments 4,863 - - - - - Total Operating Expenses 6,779 2,071 1,019 1,034 - 16 Operating Income (Loss) $ (4,467 ) $ 1,119 $ 75 $ 362 $ - $ 21 Market Optimization Corporate & Other Consolidated 2020 2019 2020 2019 2020 2019 Revenues Product and service revenues $ 1,113 $ 870 $ - $ - $ 3,919 $ 5,191 Gains (losses) on risk management, net 5 (1 ) (18 ) (385 ) 587 (84 ) Sublease revenues - - 53 54 53 54 Total Revenues 1,118 869 35 (331 ) 4,559 5,161 Operating Expenses Production, mineral and other taxes - - - - 126 187 Transportation and processing 170 168 - - 1,129 1,148 Operating 15 21 (2 ) (2 ) 452 545 Purchased product 1,039 784 - - 1,039 784 Depreciation, depletion and amortization - - 22 26 1,433 1,454 Impairments - - - - 4,863 - Accretion of asset retirement obligation - - 26 28 26 28 Administrative - - 297 389 297 389 Total Operating Expenses 1,224 973 343 441 9,365 4,535 Operating Income (Loss) $ (106 ) $ (104 ) $ (308 ) $ (772 ) (4,806 ) 626 Other (Income) Expenses Interest 279 285 Foreign exchange (gain) loss, net 51 (62 ) (Gain) loss on divestitures, net - (4 ) Other (gains) losses, net (48 ) 24 Total Other (Income) Expenses 282 243 Net Earnings (Loss) Before Income Tax (5,088 ) 383 Income tax expense (recovery) 395 143 Net Earnings (Loss) $ (5,483 ) $ 240 (1 ) The Company terminated its production sharing contract with CNOOC and exited its China Operations effective July 31, 2019.
Schedule of Marketing Intersegment Eliminations	Intersegment Information Market Optimization Marketing Sales Upstream Eliminations Total For the three months ended September 30, 2020 2019 2020 2019 2020 2019 Revenues $ 1,445 $ 2,088 $ (1,097 ) $ (1,794 ) $ 348 $ 294 Operating Expenses Transportation and processing 148 173 (95 ) (111 ) 53 62 Operating 5 6 - - 5 6 Purchased product 1,324 1,947 (1,002 ) (1,683 ) 322 264 Operating Income (Loss) $ (32 ) $ (38 ) $ - $ - $ (32 ) $ (38 ) Market Optimization Marketing Sales Upstream Eliminations Total For the nine months ended September 30, 2020 2019 2020 2019 2020 2019 Revenues $ 4,587 $ 5,459 $ (3,469 ) $ (4,590 ) $ 1,118 $ 869 Operating Expenses Transportation and processing 468 465 (298 ) (297 ) 170 168 Operating 15 21 - - 15 21 Purchased product 4,210 5,078 (3,171 ) (4,294 ) 1,039 784 Operating Income (Loss) $ (106 ) $ (105 ) $ - $ 1 $ (106 ) $ (104 )
Capital Expenditures	Capital Expenditures Three Months Ended Nine Months Ended September 30, September 30, 2020 2019 2020 2019 USA Operations $ 244 $ 464 $ 1,090 $ 1,682 Canadian Operations 106 99 300 364 Market Optimization - 2 - 2 Corporate & Other 1 1 3 4 $ 351 $ 566 $ 1,393 $ 2,052
Costs Incurred	Costs Incurred For the year ended December 31, 2019 United States Canada Total Acquisition Costs (1) Unproved $ 843 $ - $ 843 Proved 5,963 - 5,963 Total Acquisition Costs 6,806 - 6,806 Exploration Costs 5 - 5 Development Costs 2,129 480 2,609 $ 8,940 $ 480 $ 9,420 (1) Acquisition costs were restated and include the non-cash acquisition of the proved and unproved properties of Newfield Exploration Company in conjunction with the business combination described in Note 8.
Goodwill, Property, Plant and Equipment and Total Assets By Segment	Goodwill, Property, Plant and Equipment and Total Assets by Segment Goodwill Property, Plant and Equipment Total Assets As at As at As at September 30, December 31, September 30, December 31, September 30, December 31, 2020 2019 2020 2019 2020 2019 USA Operations $ 1,938 $ 1,938 $ 8,857 $ 13,757 $ 11,287 $ 16,613 Canadian Operations 656 673 1,162 1,205 1,966 2,122 Market Optimization - - 2 2 231 253 Corporate & Other - - 202 227 1,673 2,499 $ 2,594 $ 2,611 $ 10,223 $ 15,191 $ 15,157 $ 21,487

Revenues from Contracts with _2

Revenues from Contracts with Customers (Tables)	9 Months Ended
	Sep. 30, 2020
Disaggregation Of Revenue [Abstract]
Disaggregation of Revenue	Revenues (For the three months ended September 30) USA Operations Canadian Operations China Operations (1) 2020 2019 2020 2019 2020 2019 Revenues from Customers Product revenues (2) Oil $ 504 $ 905 $ 1 $ 3 $ - $ 3 NGLs 98 99 139 225 - - Natural gas 71 95 172 150 - - Service revenues Gathering and processing - (1 ) - 2 - - Product and Service Revenues $ 673 $ 1,098 $ 312 $ 380 $ - $ 3 Market Optimization Corporate & Other Consolidated 2020 2019 2020 2019 2020 2019 Revenues from Customers Product revenues (2) Oil $ 131 $ 107 $ - $ - $ 636 $ 1,018 NGLs - 2 - - 237 326 Natural gas 210 181 - - 453 426 Service revenues Gathering and processing - - - - - 1 Product and Service Revenues $ 341 $ 290 $ - $ - $ 1,326 $ 1,771 (1) The Company terminated its production sharing contract with CNOOC and exited its China Operations effective July 31, 2019. (2) Includes revenues from production and revenues of product purchased from third parties, but excludes intercompany marketing fees transacted between the Company’s operating segments. Revenues (For the nine months ended September 30 ) USA Operations Canadian Operations China Operations (1) 2020 2019 2020 2019 2020 2019 Revenues from Customers Product revenues (2) Oil $ 1,453 $ 2,461 $ 5 $ 6 $ - $ 37 NGLs 244 332 406 659 - - Natural gas 208 276 501 563 - - Service revenues Gathering and processing 1 2 1 4 - - Product and Service Revenues $ 1,906 $ 3,071 $ 913 $ 1,232 $ - $ 37 Market Optimization Corporate & Other Consolidated 2020 2019 2020 2019 2020 2019 Revenues from Customers Product revenues (2) Oil $ 500 $ 205 $ - $ - $ 1,958 $ 2,709 NGLs 4 6 - - 654 997 Natural gas 596 640 - - 1,305 1,479 Service revenues Gathering and processing - - - - 2 6 Product and Service Revenues $ 1,100 $ 851 $ - $ - $ 3,919 $ 5,191 (1) The Company terminated its production sharing contract with CNOOC and exited its China Operations effective July 31, 2019. (2) Includes revenues from production and revenues of product purchased from third parties, but excludes intercompany marketing fees transacted between the Company’s operating segments.

Interest (Tables)

Interest (Tables)	9 Months Ended
	Sep. 30, 2020
Interest Expense [Abstract]
Schedule of Interest Expense	Three Months Ended Nine Months Ended September 30, September 30, 2020 2019 2020 2019 Interest Expense on: Debt $ 91 $ 93 $ 262 $ 268 Finance leases 2 3 7 10 Other 4 3 10 7 $ 97 $ 99 $ 279 $ 285

Foreign Exchange (Gain) Loss,_2

Foreign Exchange (Gain) Loss, Net (Tables)	9 Months Ended
	Sep. 30, 2020
Foreign Currency [Abstract]
Foreign Exchange (Gain) Loss, Net	Three Months Ended Nine Months Ended September 30, September 30, 2020 2019 2020 2019 Unrealized Foreign Exchange (Gain) Loss on: Translation of U.S. dollar financing debt issued from Canada $ (6 ) $ 68 $ 56 $ (117 ) Translation of U.S. dollar risk management contracts issued from Canada (15 ) 5 1 (13 ) Translation of intercompany notes - (24 ) (27 ) 119 (21 ) 49 30 (11 ) Foreign Exchange on Settlements of: U.S. dollar financing debt issued from Canada (2 ) (10 ) 15 (22 ) U.S. dollar risk management contracts issued from Canada (2 ) (2 ) 7 (1 ) Intercompany notes - (8 ) 3 (31 ) Other Monetary Revaluations - 1 (4 ) 3 $ (25 ) $ 30 $ 51 $ (62 )

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Provision For Income Taxes	Three Months Ended Nine Months Ended September 30, September 30, 2020 2019 2020 2019 Current Tax United States $ 4 $ 1 $ 3 $ 3 Canada (1 ) (2 ) (1 ) - Total Current Tax Expense (Recovery) 3 (1 ) 2 3 Deferred Tax United States (41 ) 56 (180 ) 117 Canada - (12 ) 573 22 Other Countries (1 ) - - 1 Total Deferred Tax Expense (Recovery) (42 ) 44 393 140 Income Tax Expense (Recovery) $ (39 ) $ 43 $ 395 $ 143 Effective Tax Rate 2.5 % 22.4 % (7.8 %) 37.3 %

Business Combination (Tables)

Business Combination (Tables)	9 Months Ended
	Sep. 30, 2020
Business Combinations [Abstract]
Schedule of Purchase Price Allocations	The transaction was accounted for under the acquisition method, which requires that the assets acquired and liabilities assumed be recognized at their fair values as of the acquisition date, with any excess of the purchase price over the estimated fair value of identified net assets acquired recorded as goodwill. The purchase price allocation represents the consideration paid and the fair values of the assets acquired, and liabilities assumed as of the acquisition date. Purchase Price Allocation Consideration: Fair value of Encana's common shares issued (1) $ 3,478 Fair value of Newfield liability awards paid in cash (2) 5 Total Consideration $ 3,483 Assets Acquired: Cash and cash equivalents $ 46 Accounts receivable and accrued revenues 486 Other current assets 50 Proved properties 5,903 Unproved properties 838 Other property, plant and equipment 22 Restricted cash 53 Other assets 105 Goodwill (3) 25 Liabilities Assumed: Accounts payable and accrued liabilities (3) (4) (795 ) Long-term debt (2,603 ) Operating lease liabilities (76 ) Other long-term liabilities (3) (65 ) Asset retirement obligation (184 ) Deferred income taxes (3) (322 ) Total Purchase Price $ 3,483 (1) The fair value was based on the NYSE closing price of the pre-Share Consolidation Encana common shares of $6.40 on February 13, 2019. (2) The fair value was based on a price of $6.50 per notional unit which was determined using a volume-weighted average of the trading price of pre-Share Consolidation Encana common shares on the NYSE on each of the five consecutive trading days ending on the trading day that was three trading days prior to February 13, 2019. (3) Since the completion of the business combination on February 13, 2019, additional information related to pre-acquisition liabilities and contingencies was obtained resulting in a measurement period adjustment. Changes in the fair value estimates comprised an increase in other liabilities of $16 million, of which approximately $11 million is presented in accounts payable and accrued liabilities and $5 million is presented in other long-term liabilities, a decrease in deferred tax liabilities of $4 million and a corresponding increase in goodwill of $12 million. (4) In conjunction with the acquisition, various legal claims and actions arising in the normal course of Newfield’s operations were assumed by the Company. On March 29, 2019, Newfield and its wholly-owned subsidiary entered into an Agreement and Mutual Release with Sapura Energy Berhad, formerly known as SapuraKencana Petroleum Berhad, and Sapura Exploration and Production Inc., formerly known as SapuraKencana Energy Inc. (collectively, “Sapura”), and agreed to settle arbitration claims in the amount of $22.5 million arising from Sapura’s purchase of Newfield’s Malaysian business in February 2014. The settlement amount including legal fees was included in the purchase price allocation as part of the current liabilities assumed at the acquisition date. Although the outcome of any remaining legal claims and actions assumed following the acquisition of Newfield cannot be predicted with certainty, the Company does not expect these matters to have a material adverse effect on the Company’s financial position, cash flows or results of operations.
Schedule of Unaudited Pro Forma Financial Information	The following unaudited pro forma financial information combines the historical financial results of the Company with Newfield and has been prepared as though the acquisition had occurred on January 1, 2019. The pro forma information is not intended to reflect the actual results of operations that would have occurred if the business combination had been completed at the date indicated. In addition, the pro forma information is not intended to be a projection of the Company’s results of operations for any future period. Additionally, pro forma earnings were adjusted to exclude transaction-related costs incurred of approximately $71 million and severance payments made to employees which totaled $134 million for the nine months ended September 30, 2019. The pro forma financial information does not include any cost savings or other synergies from the Merger or any estimated costs that have been incurred to integrate the assets. Ovintiv’s consolidated results for the three and nine months ended September 30, 2020 include the results from Newfield. For the nine months ended September 30 (US$ millions, except per share amounts) 2019 Revenues $ 5,440 Net Earnings (Loss) $ 376 Net Earnings (Loss) per Share (1) Basic & Diluted $ 1.44 (1) Net earnings (loss) per share reflect the Share Consolidation as described in Note 1. Accordingly, the comparative period has been restated.

Acquisitions and Divestitures (

Acquisitions and Divestitures (Tables)	9 Months Ended
	Sep. 30, 2020
Acquisitions And Divestitures [Abstract]
Schedule of Net Acquisitions & (Divestitures)	Three Months Ended Nine Months Ended September 30, September 30, 2020 2019 2020 2019 Acquisitions USA Operations $ 1 $ 25 $ 19 $ 66 Total Acquisitions 1 25 19 66 Divestitures USA Operations (36 ) (171 ) (63 ) (177 ) Canadian Operations (3 ) - (6 ) - Total Divestitures (39 ) (171 ) (69 ) (177 ) Net Acquisitions & (Divestitures) $ (38 ) $ (146 ) $ (50 ) $ (111 )

Property, Plant and Equipment_2

Property, Plant and Equipment, Net (Tables)	9 Months Ended
	Sep. 30, 2020
Property Plant And Equipment [Abstract]
Schedule Of Property, Plant And Equipment	As at September 30, 2020 As at December 31, 2019 Accumulated Accumulated Cost DD&A Net Cost DD&A Net USA Operations Proved properties $ 37,426 $ (31,581 ) $ 5,845 $ 35,870 $ (25,623 ) $ 10,247 Unproved properties 2,980 - 2,980 3,491 - 3,491 Other 32 - 32 19 - 19 40,438 (31,581 ) 8,857 39,380 (25,623 ) 13,757 Canadian Operations Proved properties 15,227 (14,266 ) 961 15,284 (14,320 ) 964 Unproved properties 188 - 188 223 - 223 Other 13 - 13 18 - 18 15,428 (14,266 ) 1,162 15,525 (14,320 ) 1,205 Market Optimization 9 (7 ) 2 9 (7 ) 2 Corporate & Other 833 (631 ) 202 914 (687 ) 227 $ 56,708 $ (46,485 ) $ 10,223 $ 55,828 $ (40,637 ) $ 15,191
Schedule of Twelve Month Average Trailing Reserves Prices	The 12-month average trailing prices used in the ceiling test calculations were based on the benchmark prices presented below. The benchmark prices were adjusted for basis differentials to determine local reference prices, transportation costs and tariffs, heat content and quality. Oil & NGLs Natural Gas WTI Edmonton Condensate Henry Hub AECO ($/bbl) (C$/bbl) ($/MMBtu) (C$/MMBtu) 12-Month Average Trailing Reserves Pricing (1) September 30, 2020 $ 43.69 $ 53.93 $ 1.97 $ 2.01 December 31, 2019 55.93 68.80 2.58 1.76 September 30, 2019 57.76 67.81 2.87 1.52 (1 ) All prices were held constant in all future years when estimating net revenues and reserves.

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2020
Leases [Abstract]
Schedule of Estimated Future Sublease Income	The following table outlines the Company’s estimated future sublease income as at September 30, 2020. All subleases are classified as operating leases. (undiscounted) 2020 2021 2022 2023 2024 Thereafter Total Sublease Income $ 12 $ 50 $ 46 $ 44 $ 44 $ 543 $ 739

Long-Term Debt (Tables)

Long-Term Debt (Tables)	9 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Schedule Of Long-Term Debt	As at As at September 30, December 31, 2020 2019 U.S. Dollar Denominated Debt Revolving credit and term loan borrowings $ 1,150 $ 698 U.S. Unsecured Notes: 3.90% due November 15, 2021 554 600 5.75% due January 30, 2022 605 750 5.625% due July 1, 2024 1,000 1,000 5.375% due January 1, 2026 688 700 8.125% due September 15, 2030 300 300 7.20% due November 1, 2031 350 350 7.375% due November 1, 2031 500 500 6.50% due August 15, 2034 750 750 6.625% due August 15, 2037 462 462 6.50% due February 1, 2038 488 505 5.15% due November 15, 2041 212 244 Total Principal 7,059 6,859 Increase in Value of Debt Acquired 119 149 Unamortized Debt Discounts and Issuance Costs (36 ) (34 ) Total Long-Term Debt $ 7,142 $ 6,974 Current Portion $ - $ - Long-Term Portion 7,142 6,974 $ 7,142 $ 6,974

Other Liabilities and Provisi_2

Other Liabilities and Provisions (Tables)	9 Months Ended
	Sep. 30, 2020
Other Liabilities Disclosure [Abstract]
Schedule of Other Liabilities and Provisions	As at As at September 30, December 31, 2020 2019 Finance Lease Obligations $ 51 $ 121 Unrecognized Tax Benefits 155 159 Pensions and Other Post-Employment Benefits 123 119 Long-Term Incentive Costs (See Note 19) 23 38 Other Derivative Contracts (See Notes 21, 22) 9 7 Other 16 20 $ 377 $ 464

Asset Retirement Obligation (Ta

Asset Retirement Obligation (Tables)	9 Months Ended
	Sep. 30, 2020
Asset Retirement Obligation Disclosure [Abstract]
Schedule of Change In Asset Retirement Obligation	As at As at September 30, December 31, 2020 2019 Asset Retirement Obligation, Beginning of Year $ 614 $ 455 Liabilities Incurred 11 15 Liabilities Acquired (See Note 8) - 184 Liabilities Settled and Divested (157 ) (141 ) Change in Estimated Future Cash Outflows 12 47 Accretion Expense 26 37 Foreign Currency Translation (11 ) 17 Asset Retirement Obligation, End of Period $ 495 $ 614 Current Portion $ 49 $ 189 Long-Term Portion 446 425 $ 495 $ 614

Share Capital (Tables)

Share Capital (Tables)	9 Months Ended
	Sep. 30, 2020
Class Of Stock Disclosures [Abstract]
Schedule of Common Stock Issued and Outstanding	As at September 30, 2020 As at December 31, 2019 Number (millions) Amount Number (millions) Amount Shares of Common Stock Outstanding, Beginning of Year 259.8 $ 7,061 190.5 $ 4,656 Shares of Common Stock Purchased - - (39.4 ) (1,073 ) Shares of Common Stock Issued - - 108.7 3,478 Reclassification of Share Capital due to the Reorganization (See Note 1) - (7,058 ) - - Shares of Common Stock Outstanding, End of Period 259.8 $ 3 259.8 $ 7,061
Earnings Per Common Share	Three Months Ended Nine Months Ended September 30, September 30, (US$ millions, except per share amounts) 2020 2019 2020 2019 Net Earnings (Loss) $ (1,521 ) $ 149 $ (5,483 ) $ 240 Number of Shares of Common Stock (1) Weighted average shares of common stock outstanding - Basic 259.8 264.6 259.8 261.7 Effect of dilutive securities - - - - Weighted Average Shares of Common Stock Outstanding - Diluted 259.8 264.6 259.8 261.7 Net Earnings (Loss) per Share of Common Stock (1) Basic & Diluted $ (5.85 ) $ 0.56 $ (21.10 ) $ 0.92 (1) Net earnings (loss) per share of common stock and weighted average shares of common stock outstanding reflect the Share Consolidation as described in Note 1. Accordingly, the comparative periods have been restated.

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Tables)	9 Months Ended
	Sep. 30, 2020
Accumulated Other Comprehensive Income Loss Net Of Tax [Abstract]
Schedule of Accumulated Other Comprehensive Income	Three Months Ended Nine Months Ended September 30, September 30, 2020 2019 2020 2019 Foreign Currency Translation Adjustment Balance, Beginning of Period $ 957 $ 1,014 $ 1,004 $ 976 Change in Foreign Currency Translation Adjustment 26 (6 ) (21 ) 32 Balance, End of Period $ 983 $ 1,008 $ 983 $ 1,008 Pension and Other Post-Employment Benefit Plans Balance, Beginning of Period $ 43 $ (2 ) $ 42 $ 22 Other Comprehensive Income Before Reclassifications: Net prior service costs from plan amendment (See Note 20) - - - (29 ) Income taxes - - - 6 Amounts Reclassified from Other Comprehensive Income: Reclassification of net actuarial (gains) and losses to net earnings (See Note 20) (2 ) - (6 ) (1 ) Income taxes - - 1 - Curtailment in net defined periodic benefit cost (See Note 20) - - 5 - Income taxes - - (1 ) - Balance, End of Period $ 41 $ (2 ) $ 41 $ (2 ) Total Accumulated Other Comprehensive Income $ 1,024 $ 1,006 $ 1,024 $ 1,006

Restructuring Charges (Tables)

Restructuring Charges (Tables)	9 Months Ended
	Sep. 30, 2020
Restructuring Charges [Abstract]
Restructuring Costs Expensed	Three Months Ended Nine Months Ended September 30, September 30, 2020 2019 2020 2019 Severance and Benefits $ 6 $ 4 $ 86 $ 132 Outplacement, Moving and Other Expenses 1 - 2 2 Restructuring Expenses $ 7 $ 4 $ 88 $ 134
Schedule of Change in Restructuring Accrual	As at As at September 30, December 31, 2020 2019 Outstanding Restructuring Accrual, Beginning of Year $ 8 $ - Restructuring Expenses Incurred 88 138 Restructuring Costs Paid (82 ) (130 ) Outstanding Restructuring Accrual, End of Period (1) $ 14 $ 8 (1) Included in accounts payable and accrued liabilities in the Condensed Consolidated Balance Sheet.

Compensation Plans (Tables)

Compensation Plans (Tables)	9 Months Ended
	Sep. 30, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Schedule of Weighted Average Assumptions Used to Fair Value Share Units	As at September 30, 2020 As at September 30, 2019 US$ Share Units C$ Share Units US$ Share Units C$ Share Units Risk Free Interest Rate 0.22% 0.22% 1.58% 1.58% Dividend Yield 4.60% 4.66% 1.63% 1.64% Expected Volatility Rate (1) 102.43% 101.65% 44.14% 42.77% Expected Term 2.5 yrs 2.0 yrs 2.9 yrs 2.6 yrs Market Share Price (2) US$8.16 C$10.89 US$23.00 C$30.35 ( 1) Volatility was estimated using historical rates. (2) Market share price reflects the Share Consolidation as described in Note 1. Accordingly, the comparative period has been restated.
Amounts Recognized For Share-Based Payment Transactions	Three Months Ended Nine Months Ended September 30, September 30, 2020 2019 2020 2019 Total Compensation Costs of Transactions Classified as Cash-Settled $ 4 $ 2 $ (12 ) $ 46 Less: Total Share-Based Compensation Costs Capitalized (2 ) (1 ) 3 (16 ) Total Share-Based Compensation Expense (Recovery) $ 2 $ 1 $ (9 ) $ 30 Recognized on the Condensed Consolidated Statement of Earnings in: Operating $ 1 $ - $ (3 ) $ 12 Administrative 1 1 (6 ) 18 $ 2 $ 1 $ (9 ) $ 30
Liability for Share-Based Payment Transactions	As at September 30, 2020 As at December 31, 2019 Liability for Cash-Settled Share-Based Payment Transactions: Unvested $ 42 $ 65 Vested 5 13 $ 47 $ 78
Schedule of Share-based Compensation Activity	Nine Months Ended September 30, 2020 (thousands of units) RSUs 6,698 PSUs 2,293 DSUs 65

Pension and Other Post-Employ_2

Pension and Other Post-Employment Benefits (Tables)	9 Months Ended
	Sep. 30, 2020
General Discussion Of Pension And Other Postretirement Benefits [Abstract]
Total Benefit Plans Expense Recognized	The Company has recognized total benefit plans expense which includes pension benefits and other post-employment benefits (“OPEB”) for the nine months ended September 30 as follows: Pension Benefits OPEB Total 2020 2019 2020 2019 2020 2019 Net Defined Periodic Benefit Cost $ - $ 1 $ 2 $ 13 $ 2 $ 14 Defined Contribution Plan Expense 24 18 - - 24 18 Total Benefit Plans Expense $ 24 $ 19 $ 2 $ 13 $ 26 $ 32
Schedule of Net Defined Periodic Benefit Cost	The net defined periodic benefit cost for the nine months ended September 30 is as follows: Defined Benefits OPEB Total 2020 2019 2020 2019 2020 2019 Service Cost $ - $ 1 $ 3 $ 7 $ 3 $ 8 Interest Cost 4 5 2 3 6 8 Expected Return on Plan Assets (5 ) (5 ) - - (5 ) (5 ) Amounts Reclassified from Accumulated Other Comprehensive Income: Amortization of net actuarial (gains) and losses 1 - (7 ) (1 ) (6 ) (1 ) Curtailment from net prior service costs - - 5 - 5 - Curtailment - - (1 ) 4 (1 ) 4 Total Net Defined Periodic Benefit Cost (1) $ - $ 1 $ 2 $ 13 $ 2 $ 14 (1) The components of total net defined periodic benefit cost, excluding the service cost component, are included in other (gains) losses, net.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
Schedule Of Fair Value, Assets And Liabilities Measured On Recurring Basis	Fair value changes and settlements for amounts related to risk management assets and liabilities are recognized in revenues and foreign exchange gains and losses according to their purpose. As at September 30, 2020 Level 1 Quoted Prices in Active Markets Level 2 Other Observable Inputs Level 3 Significant Unobservable Inputs Total Fair Value Netting (1) Carrying Amount Risk Management Assets Commodity Derivatives: Current assets $ - $ 143 $ 86 $ 229 $ (69 ) $ 160 Long-term assets - 14 - 14 (8 ) 6 Foreign Currency Derivatives: Current assets - 10 - 10 - 10 Long-term assets - 2 - 2 - 2 Risk Management Liabilities Commodity Derivatives: Current liabilities $ 2 $ 129 $ 3 $ 134 $ (69 ) $ 65 Long-term liabilities - 158 4 162 (8 ) 154 Other Derivative Contracts Current in accounts payable and accrued liabilities $ - $ 2 $ - $ 2 $ - $ 2 Long-term in other liabilities and provisions - 9 - 9 - 9 As at December 31, 2019 Level 1 Quoted Prices in Active Markets Level 2 Other Observable Inputs Level 3 Significant Unobservable Inputs Total Fair Value Netting (1) Carrying Amount Risk Management Assets Commodity Derivatives: Current assets $ - $ 202 $ - $ 202 $ (67 ) $ 135 Long-term assets - 6 - 6 (4 ) 2 Foreign Currency Derivatives: Current assets - 13 - 13 - 13 Risk Management Liabilities Commodity Derivatives: Current liabilities $ 1 $ 139 $ 41 $ 181 $ (67 ) $ 114 Long-term liabilities - 61 11 72 (4 ) 68 Other Derivative Contracts Current in accounts payable and accrued liabilities $ - $ 2 $ - $ 2 $ - $ 2 Long-term in other liabilities and provisions - 7 - 7 - 7 (1) Netting to offset derivative assets and liabilities where the legal right and intention to offset exists, or where counterparty master netting arrangements contain provisions for net settlement.
Summary Of Changes In Level 3 Fair Value Measurements for Risk Management Positions	A summary of changes in Level 3 fair value measurements for risk management positions is presented below: Nine Months Ended September 30, 2020 2019 Balance, Beginning of Year $ (52 ) $ 139 Total Gains (Losses) 214 24 Purchases, Sales, Issuances and Settlements: Purchases, sales and issuances - - Settlements (83 ) (49 ) Transfers Out of Level 3 - - Balance, End of Period $ 79 $ 114 Change in Unrealized Gains (Losses) During the Period Included in Net Earnings (Loss) $ 131 $ (25 )
Quantitative Information About Unobservable Inputs Used In Level 3	Quantitative information about unobservable inputs used in Level 3 fair value measurements is presented below as at September 30, 2020: Valuation Technique Unobservable Input Range Weighted Average (1) Risk Management - WTI Options Option Model Implied Volatility 33% - 62% 42% (1) Unobservable inputs were weighted by the relative fair value of the instruments.

Financial Instruments and Ris_2

Financial Instruments and Risk Management (Tables)	9 Months Ended
	Sep. 30, 2020
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Risk Management Positions	Notional Volumes Term Average Price Fair Value Crude Oil and NGL Contracts US$/bbl Fixed Price Contracts WTI Fixed Price 89.0 Mbbls/d 2020 52.95 $ 101 WTI Fixed Price 20.0 Mbbls/d 2021 44.08 12 Propane Fixed Price 20.0 Mbbls/d 2020 17.94 (6 ) Butane Fixed Price 8.0 Mbbls/d 2020 23.54 (1 ) Iso-Butane Fixed Price 3.3 Mbbls/d 2020 24.36 (1 ) Ethane Fixed Price 1.0 Mbbls/d 2020 5.25 - WTI Fixed Price Swaptions (1) 10.0 Mbbls/d 2021 58.00 - WTI Three-Way Options Sold call / bought put / sold put 76.0 Mbbls/d 2020 61.46 / 53.36 / 43.36 62 Sold call / bought put / sold put 37.0 Mbbls/d 2021 50.27 / 39.61 / 29.39 8 WTI Costless Collars Sold call / bought put 15.0 Mbbls/d 2020 68.71 / 50.00 14 Sold call / bought put 15.0 Mbbls/d 2021 45.84 / 35.00 (5 ) Basis Contracts (2) 2020 (20 ) 2021 (1 ) Other Crude Financial Positions (3 ) Crude Oil and NGLs Fair Value Position 160 Natural Gas Contracts US$/Mcf Fixed Price Contracts NYMEX Fixed Price 793 MMcf/d 2020 2.65 6 NYMEX Fixed Price 165 MMcf/d 2021 2.51 (24 ) Fixed Price Swaptions (3) NYMEX Fixed Price Swaptions 165 MMcf/d 2022 2.51 (20 ) NYMEX Three-Way Options Sold call / bought put / sold put 330 MMcf/d 2020 2.72 / 2.60 / 2.25 (1 ) Sold call / bought put / sold put 730 MMcf/d 2021 3.35 / 2.87 / 2.49 (17 ) NYMEX Costless Collars Sold call / bought put 55 MMcf/d 2020 2.88 / 2.50 - NYMEX Call Options Sold call 230 MMcf/d 2020 3.25 - Sold call 330 MMcf/d 2022 2.38 (54 ) Basis Contracts (4) 2020 (13 ) 2021 (33 ) 2022 - 2025 (56 ) Other Financial Positions 1 Natural Gas Fair Value Position (211 ) Net Premiums Received on Unexpired Options (2 ) Other Derivative Contracts Fair Value Position (11 ) Foreign Currency Contracts Fair Value Position (5) 2020 - 2021 12 Total Fair Value Position and Net Premiums Received $ (52 ) (1) WTI Fixed Price Swaptions give the counterparty the option to extend certain 2020 Fixed Price swaps to 2021. (2) Ovintiv has entered into crude and NGL differential swaps associated with Canadian condensate, Midland, Magellan East Houston, Brent, Mt. Belvieu, Conway and WTI. (3) NYMEX Fixed Price Swaptions give the counterparty the option to extend certain 2021 Fixed Price swaps to 2022. ( 4 ) Ovintiv has entered into natural gas basis swaps associated with AECO, Dawn, Chicago, Malin, Waha, Houston Ship Channel and NYMEX. ( 5 ) Ovintiv has entered into U.S. dollar denominated fixed-for-floating average currency swaps to protect against fluctuations between the Canadian and U.S. dollars.
Earnings Impact of Realized and Unrealized Gains (Losses) On Risk Management Positions	Three Months Ended Nine Months Ended September 30, September 30, 2020 2019 2020 2019 Realized Gains (Losses) on Risk Management Commodity and Other Derivatives: Revenues (1) $ 89 $ 122 $ 605 $ 301 Foreign Currency Derivatives: Foreign exchange 2 2 (7 ) 1 $ 91 $ 124 $ 598 $ 302 Unrealized Gains (Losses) on Risk Management Commodity and Other Derivatives: Revenues (2) $ (243 ) $ (41 ) $ (18 ) $ (385 ) Foreign Currency Derivatives: Foreign exchange 15 (11 ) (1 ) 26 $ (228 ) $ (52 ) $ (19 ) $ (359 ) Total Realized and Unrealized Gains (Losses) on Risk Management, net Commodity and Other Derivatives: Revenues (1) (2) $ (154 ) $ 81 $ 587 $ (84 ) Foreign Currency Derivatives: Foreign exchange 17 (9 ) (8 ) 27 $ (137 ) $ 72 $ 579 $ (57 ) (1) Includes realized gains of nil and $2 million for the three and nine months ended September 30, 2020, respectively (2019 - gains of $2 million and $5 million, respectively), related to other derivative contracts. (2) Includes unrealized losses of nil and $4 million for the three and nine months ended September 30, 2020, respectively (2019 - losses of nil and $1 million, respectively), related to other derivative contracts.
Reconciliation of Unrealized Risk Management Positions	2020 2019 Fair Value Total Unrealized Gain (Loss) Total Unrealized Gain (Loss) Fair Value of Contracts, Beginning of Year $ (41 ) Change in Fair Value of Contracts in Place at Beginning of Year and Contracts Entered into During the Period 579 $ 579 $ (57 ) Settlement of Other Derivative Contracts 2 Amortization of Option Premiums During the Period 6 Fair Value of Contracts Realized During the Period (598 ) (598 ) (302 ) Fair Value of Contracts and Net Premiums Received, End of Period $ (52 ) $ (19 ) $ (359 )
Unrealized Risk Management Positions	As at As at September 30, December 31, 2020 2019 Risk Management Assets Current $ 170 $ 148 Long-term 8 2 178 150 Risk Management Liabilities Current 65 114 Long-term 154 68 219 182 Other Derivative Contracts Current in accounts payable and accrued liabilities 2 2 Long-term in other liabilities and provisions 9 7 Net Risk Management Assets (Liabilities) and Other Derivative Contracts $ (52 ) $ (41 )

Supplementary Information (Tabl

Supplementary Information (Tables)	9 Months Ended
	Sep. 30, 2020
Supplemental Cash Flow Elements [Abstract]
Net Change in Non-Cash Working Capital	A) Net Change in Non-Cash Working Capital Three Months Ended Nine Months Ended September 30, September 30, 2020 2019 2020 2019 Operating Activities Accounts receivable and accrued revenues $ 78 $ 61 $ 289 $ 178 Accounts payable and accrued liabilities 42 (82 ) (212 ) (66 ) Current portion of operating lease liabilities (4 ) (9 ) (10 ) 52 Income tax receivable and payable 26 (2 ) 39 (34 ) $ 142 $ (32 ) $ 106 $ 130
Non-Cash Activities	B) Non-Cash Activities Three Months Ended Nine Months Ended September 30, September 30, 2020 2019 2020 2019 Non-Cash Investing Activities Asset retirement obligation incurred (See Note 14) $ 2 $ 2 $ 11 $ 13 Asset retirement obligation change in estimated future cash outflows (See Note 14) (10 ) - 12 - Property, plant and equipment accruals 68 (80 ) (62 ) (33 ) Capitalized long-term incentives 2 1 (7 ) (31 ) Property additions/dispositions (swaps) 212 63 229 66 New ROU operating lease assets and liabilities (5 ) (1 ) (6 ) (11 ) Non-Cash Financing Activities Common shares issued in conjunction with the Newfield business combination (See Note 8) $ - $ - $ - $ (3,478 )

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2020
Commitments And Contingencies Disclosure [Abstract]
Commitments	The following table outlines the Company’s commitments as at September 30, 2020: Expected Future Payments (undiscounted) 2020 2021 2022 2023 2024 Thereafter Total Transportation and Processing $ 173 $ 675 $ 644 $ 541 $ 433 $ 2,305 $ 4,771 Drilling and Field Services 37 12 1 - - 1 51 Building Leases 3 14 11 7 6 8 49 Total $ 213 $ 701 $ 656 $ 548 $ 439 $ 2,314 $ 4,871

Basis of Presentation and Pri_3

Basis of Presentation and Principles of Consolidation (Narative) (Details)	Jan. 24, 2020
Accounting Policies [Abstract]
Share consolidation ratio	20.00%
Consolidation share conversion, description	one post-consolidation share for each five pre-consolidation shares
Issued and outstanding common shares in exchange for common stock, ratio	100.00%
Common stock exchange, description	one-for-one basis

Recent Accounting Pronounceme_2

Recent Accounting Pronouncements (Narrative) (Details)	Sep. 30, 2020
ASU 2017-04 [Member]
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Change in Accounting Principle, Accounting Standards Update, Adopted	true
Change in Accounting Principle, Accounting Standards Update, Adoption Date	Jan. 1, 2020
Change in Accounting Principle, Accounting Standards Update, Immaterial Effect	true
ASU 2016-13 [Member]
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Change in Accounting Principle, Accounting Standards Update, Adopted	true
Change in Accounting Principle, Accounting Standards Update, Adoption Date	Jan. 1, 2020
Change in Accounting Principle, Accounting Standards Update, Immaterial Effect	true

Segmented Information (Segment

Segmented Information (Segment and Geographical Information) (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended		12 Months Ended
		Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Segment Reporting Information [Line Items]
Product and service revenues		$ 1,326	$ 1,771	$ 3,919	$ 5,191
Gains (losses) on risk management, net		(154)	81	587	(84)
Sublease revenues		18	19	53	54
Total Revenues		1,190	1,871	4,559	5,161
Production, mineral and other taxes		47	66	126	187
Transportation and processing		365	398	1,129	1,148
Operating		133	193	452	545
Purchased product		322	264	1,039	784
Depreciation, depletion and amortization		406	545	1,433	1,454
Impairments		1,336	0	4,863	0
Accretion of asset retirement obligation		8	9	26	28	$ 37
Administrative		79	81	297	389
Total Operating Expenses		2,696	1,556	9,365	4,535
Operating Income (Loss)		(1,506)	315	(4,806)	626
Interest		97	99	279	285
Foreign exchange (gain) loss, net		(25)	30	51	(62)
(Gain) loss on divestitures, net		0	(5)	0	(4)
Other (gains) losses, net		(18)	(1)	(48)	24
Total Other (Income) Expenses		54	123	282	243
Net Earnings (Loss) Before Income Tax		(1,560)	192	(5,088)	383
Income tax expense (recovery)		(39)	43	395	143
Net Earnings (Loss)		(1,521)	149	(5,483)	240
Corporate & Other [Member]
Segment Reporting Information [Line Items]
Product and service revenues		0	0	0	0
Gains (losses) on risk management, net		(243)	(41)	(18)	(385)
Sublease revenues		18	19	53	54
Total Revenues		(225)	(22)	35	(331)
Production, mineral and other taxes		0	0	0	0
Transportation and processing		0	0	0	0
Operating		0	0	(2)	(2)
Purchased product		0	0	0	0
Depreciation, depletion and amortization		8	7	22	26
Impairments		0	0	0	0
Accretion of asset retirement obligation		8	9	26	28
Administrative		79	81	297	389
Total Operating Expenses		95	97	343	441
Operating Income (Loss)		(320)	(119)	(308)	(772)
USA Operations [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Product and service revenues		670	1,097	1,900	3,062
Gains (losses) on risk management, net		38	35	412	128
Sublease revenues		0	0	0	0
Total Revenues		708	1,132	2,312	3,190
Production, mineral and other taxes		43	63	115	176
Transportation and processing		109	125	345	340
Operating		104	151	364	414
Depreciation, depletion and amortization		299	438	1,092	1,141
Impairments		1,336	0	4,863	0
Total Operating Expenses		1,891	777	6,779	2,071
Operating Income (Loss)		(1,183)	355	(4,467)	1,119
Canadian Operations [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Product and service revenues		310	377	906	1,222
Gains (losses) on risk management, net		49	87	188	174
Sublease revenues		0	0	0	0
Total Revenues		359	464	1,094	1,396
Production, mineral and other taxes		4	3	11	11
Transportation and processing		203	211	614	640
Operating		24	32	75	96
Depreciation, depletion and amortization		99	100	319	287
Impairments		0	0	0	0
Total Operating Expenses		330	346	1,019	1,034
Operating Income (Loss)		29	118	75	362
China Operations [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Product and service revenues	[1]	0	3	0	37
Gains (losses) on risk management, net	[1]	0	0	0	0
Sublease revenues	[1]	0	0	0	0
Total Revenues	[1]	0	3	0	37
Production, mineral and other taxes	[1]	0	0	0	0
Transportation and processing	[1]	0	0	0	0
Operating	[1]	0	4	0	16
Depreciation, depletion and amortization	[1]	0	0	0	0
Impairments	[1]	0	0	0	0
Total Operating Expenses	[1]	0	4	0	16
Operating Income (Loss)	[1]	0	(1)	0	21
Market Optimization [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Product and service revenues		346	294	1,113	870
Gains (losses) on risk management, net		2	0	5	(1)
Sublease revenues		0	0	0	0
Total Revenues		348	294	1,118	869
Production, mineral and other taxes		0	0	0	0
Transportation and processing		53	62	170	168
Operating		5	6	15	21
Purchased product		322	264	1,039	784
Depreciation, depletion and amortization		0	0	0	0
Impairments		0	0	0	0
Accretion of asset retirement obligation		0	0	0	0
Administrative		0	0	0	0
Total Operating Expenses		380	332	1,224	973
Operating Income (Loss)		$ (32)	$ (38)	$ (106)	$ (104)
[1]	The Company terminated its production sharing contract with CNOOC and exited its China Operations effective July 31, 2019.

Segmented Information (Schedule

Segmented Information (Schedule of Marketing Intersegment Eliminations) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Product Information [Line Items]
Revenues	$ 1,190	$ 1,871	$ 4,559	$ 5,161
Transportation and processing	365	398	1,129	1,148
Operating	133	193	452	545
Purchased product	322	264	1,039	784
Operating Income (Loss)	(1,506)	315	(4,806)	626
Market Optimization [Member] | Operating Segments [Member]
Product Information [Line Items]
Revenues	348	294	1,118	869
Transportation and processing	53	62	170	168
Operating	5	6	15	21
Purchased product	322	264	1,039	784
Operating Income (Loss)	(32)	(38)	(106)	(104)
Market Optimization [Member] | Reportable Subsegments [Member] | Marketing Sales [Member]
Product Information [Line Items]
Revenues	1,445	2,088	4,587	5,459
Transportation and processing	148	173	468	465
Operating	5	6	15	21
Purchased product	1,324	1,947	4,210	5,078
Operating Income (Loss)	(32)	(38)	(106)	(105)
Market Optimization [Member] | Intersubsegment Eliminations [Member]
Product Information [Line Items]
Revenues	(1,097)	(1,794)	(3,469)	(4,590)
Transportation and processing	(95)	(111)	(298)	(297)
Operating	0	0	0	0
Purchased product	(1,002)	(1,683)	(3,171)	(4,294)
Operating Income (Loss)	$ 0	$ 0	$ 0	$ 1

Segmented Information (Capital

Segmented Information (Capital Expenditures) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Segment Reporting Information [Line Items]
Capital Expenditures	$ 351	$ 566	$ 1,393	$ 2,052
Operating Segments [Member] | USA Operations [Member]
Segment Reporting Information [Line Items]
Capital Expenditures	244	464	1,090	1,682
Operating Segments [Member] | Canadian Operations [Member]
Segment Reporting Information [Line Items]
Capital Expenditures	106	99	300	364
Operating Segments [Member] | Market Optimization [Member]
Segment Reporting Information [Line Items]
Capital Expenditures	0	2	0	2
Corporate & Other [Member]
Segment Reporting Information [Line Items]
Capital Expenditures	$ 1	$ 1	$ 3	$ 4

Segmented Information (Costs In

Segmented Information (Costs Incurred) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2019USD ($)
Acquisition Costs
Unproved	$ 843
Proved	5,963
Total Acquisition Costs	6,806
Exploration Costs	5
Development Costs	2,609
Costs Incurred	9,420
United States [Member]
Acquisition Costs
Unproved	843
Proved	5,963
Total Acquisition Costs	6,806
Exploration Costs	5
Development Costs	2,129
Costs Incurred	8,940
Canada [Member]
Acquisition Costs
Unproved	0
Proved	0
Total Acquisition Costs	0
Exploration Costs	0
Development Costs	480
Costs Incurred	$ 480

Segmented Information (Goodwill

Segmented Information (Goodwill, Property, Plant and Equipment and Total Assets By Segment) (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Segment Reporting, Asset Reconciling Item [Line Items]
Goodwill	$ 2,594	$ 2,611
Property, Plant and Equipment	10,223	15,191
Total Assets	15,157	21,487
Operating Segments [Member] | USA Operations [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Goodwill	1,938	1,938
Property, Plant and Equipment	8,857	13,757
Total Assets	11,287	16,613
Operating Segments [Member] | Canadian Operations [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Goodwill	656	673
Property, Plant and Equipment	1,162	1,205
Total Assets	1,966	2,122
Operating Segments [Member] | Market Optimization [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Goodwill	0	0
Property, Plant and Equipment	2	2
Total Assets	231	253
Corporate & Other [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Goodwill	0	0
Property, Plant and Equipment	202	227
Total Assets	$ 1,673	$ 2,499

Revenues from Contracts with _3

Revenues from Contracts with Customers (Disaggregation of Revenue) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Disaggregation of Revenue [Line Items]
Product revenues	$ 1,326	$ 1,771	$ 3,919	$ 5,191
Operating Segments [Member] | USA Operations Excluding Intercompany Segment Transactions [Member]
Disaggregation of Revenue [Line Items]
Product revenues	673	1,098	1,906	3,071
Operating Segments [Member] | Canadian Operations Excluding Intercompany Segment Transactions [Member]
Disaggregation of Revenue [Line Items]
Product revenues	312	380	913	1,232
Operating Segments [Member] | China Operations Excluding Intercompany Segment Transactions [Member]
Disaggregation of Revenue [Line Items]
Product revenues	0	3	0	37
Operating Segments [Member] | Market Optimization Excluding Intercompany Segment Transactions [Member]
Disaggregation of Revenue [Line Items]
Product revenues	341	290	1,100	851
Corporate & Other [Member]
Disaggregation of Revenue [Line Items]
Product revenues	0	0	0	0
Oil [Member] | Product Revenues Including Sale of Product Purchased from Third Parties [Member]
Disaggregation of Revenue [Line Items]
Product revenues	636	1,018	1,958	2,709
Oil [Member] | Operating Segments [Member] | USA Operations Excluding Intercompany Segment Transactions [Member] | Product Revenues Including Sale of Product Purchased from Third Parties [Member]
Disaggregation of Revenue [Line Items]
Product revenues	504	905	1,453	2,461
Oil [Member] | Operating Segments [Member] | Canadian Operations Excluding Intercompany Segment Transactions [Member] | Product Revenues Including Sale of Product Purchased from Third Parties [Member]
Disaggregation of Revenue [Line Items]
Product revenues	1	3	5	6
Oil [Member] | Operating Segments [Member] | China Operations Excluding Intercompany Segment Transactions [Member] | Product Revenues Including Sale of Product Purchased from Third Parties [Member]
Disaggregation of Revenue [Line Items]
Product revenues	0	3	0	37
Oil [Member] | Operating Segments [Member] | Market Optimization Excluding Intercompany Segment Transactions [Member] | Product Revenues Including Sale of Product Purchased from Third Parties [Member]
Disaggregation of Revenue [Line Items]
Product revenues	131	107	500	205
Oil [Member] | Corporate & Other [Member] | Product Revenues Including Sale of Product Purchased from Third Parties [Member]
Disaggregation of Revenue [Line Items]
Product revenues	0	0	0	0
Natural Gas Liquids [Member] | Product Revenues Including Sale of Product Purchased from Third Parties [Member]
Disaggregation of Revenue [Line Items]
Product revenues	237	326	654	997
Natural Gas Liquids [Member] | Operating Segments [Member] | USA Operations Excluding Intercompany Segment Transactions [Member] | Product Revenues Including Sale of Product Purchased from Third Parties [Member]
Disaggregation of Revenue [Line Items]
Product revenues	98	99	244	332
Natural Gas Liquids [Member] | Operating Segments [Member] | Canadian Operations Excluding Intercompany Segment Transactions [Member] | Product Revenues Including Sale of Product Purchased from Third Parties [Member]
Disaggregation of Revenue [Line Items]
Product revenues	139	225	406	659
Natural Gas Liquids [Member] | Operating Segments [Member] | China Operations Excluding Intercompany Segment Transactions [Member] | Product Revenues Including Sale of Product Purchased from Third Parties [Member]
Disaggregation of Revenue [Line Items]
Product revenues	0	0	0	0
Natural Gas Liquids [Member] | Operating Segments [Member] | Market Optimization Excluding Intercompany Segment Transactions [Member] | Product Revenues Including Sale of Product Purchased from Third Parties [Member]
Disaggregation of Revenue [Line Items]
Product revenues	0	2	4	6
Natural Gas Liquids [Member] | Corporate & Other [Member] | Product Revenues Including Sale of Product Purchased from Third Parties [Member]
Disaggregation of Revenue [Line Items]
Product revenues	0	0	0	0
Natural Gas [Member] | Product Revenues Including Sale of Product Purchased from Third Parties [Member]
Disaggregation of Revenue [Line Items]
Product revenues	453	426	1,305	1,479
Natural Gas [Member] | Operating Segments [Member] | USA Operations Excluding Intercompany Segment Transactions [Member] | Product Revenues Including Sale of Product Purchased from Third Parties [Member]
Disaggregation of Revenue [Line Items]
Product revenues	71	95	208	276
Natural Gas [Member] | Operating Segments [Member] | Canadian Operations Excluding Intercompany Segment Transactions [Member] | Product Revenues Including Sale of Product Purchased from Third Parties [Member]
Disaggregation of Revenue [Line Items]
Product revenues	172	150	501	563
Natural Gas [Member] | Operating Segments [Member] | China Operations Excluding Intercompany Segment Transactions [Member] | Product Revenues Including Sale of Product Purchased from Third Parties [Member]
Disaggregation of Revenue [Line Items]
Product revenues	0	0	0	0
Natural Gas [Member] | Operating Segments [Member] | Market Optimization Excluding Intercompany Segment Transactions [Member] | Product Revenues Including Sale of Product Purchased from Third Parties [Member]
Disaggregation of Revenue [Line Items]
Product revenues	210	181	596	640
Natural Gas [Member] | Corporate & Other [Member] | Product Revenues Including Sale of Product Purchased from Third Parties [Member]
Disaggregation of Revenue [Line Items]
Product revenues	0	0	0	0
Natural Gas Gathering and Processing [Member]
Disaggregation of Revenue [Line Items]
Product revenues	0	1	2	6
Natural Gas Gathering and Processing [Member] | Operating Segments [Member] | USA Operations Excluding Intercompany Segment Transactions [Member]
Disaggregation of Revenue [Line Items]
Product revenues	0	(1)	1	2
Natural Gas Gathering and Processing [Member] | Operating Segments [Member] | Canadian Operations Excluding Intercompany Segment Transactions [Member]
Disaggregation of Revenue [Line Items]
Product revenues	0	2	1	4
Natural Gas Gathering and Processing [Member] | Operating Segments [Member] | China Operations Excluding Intercompany Segment Transactions [Member]
Disaggregation of Revenue [Line Items]
Product revenues	0	0	0	0
Natural Gas Gathering and Processing [Member] | Operating Segments [Member] | Market Optimization Excluding Intercompany Segment Transactions [Member]
Disaggregation of Revenue [Line Items]
Product revenues	0	0	0	0
Natural Gas Gathering and Processing [Member] | Corporate & Other [Member]
Disaggregation of Revenue [Line Items]
Product revenues	$ 0	$ 0	$ 0	$ 0

Revenues from Contracts with _4

Revenues from Contracts with Customers (Narrative) (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Revenue From Contract With Customer [Abstract]
Contract with customer, asset net	$ 0	$ 0
Contract with customer, liability	0	0
Receivables & accrued revenues from contracts with customers	628	$ 1,095
Revenue, remaining performance obligation	$ 0

Interest (Details)

Interest (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Interest Expense [Abstract]
Interest Expense on Debt	$ 91	$ 93	$ 262	$ 268
Interest on Finance Leases	2	3	7	10
Interest - Other	4	3	10	7
Interest	$ 97	$ 99	$ 279	$ 285

Foreign Exchange (Gain) Loss,_3

Foreign Exchange (Gain) Loss, Net (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Schedule Of Foreign Exchange Transactions [Line Items]
Unrealized Foreign Exchange (Gain) Loss	$ (21)	$ 49	$ 30	$ (11)
Foreign Exchange (Gain) Loss, Net	(25)	30	51	(62)
Translation of U.S. Dollar Debt Issued From Canada [Member]
Schedule Of Foreign Exchange Transactions [Line Items]
Unrealized Foreign Exchange (Gain) Loss	(6)	68	56	(117)
Foreign Exchange on Settlements	(2)	(10)	15	(22)
Translation of U.S. Dollar Risk Management Contracts Issued From Canada [Member]
Schedule Of Foreign Exchange Transactions [Line Items]
Unrealized Foreign Exchange (Gain) Loss	(15)	5	1	(13)
Foreign Exchange on Settlements	(2)	(2)	7	(1)
Translation of Intercompany Notes [Member]
Schedule Of Foreign Exchange Transactions [Line Items]
Unrealized Foreign Exchange (Gain) Loss	0	(24)	(27)	119
Foreign Exchange on Settlements	0	(8)	3	(31)
Other Monetary Revaluations [Member]
Schedule Of Foreign Exchange Transactions [Line Items]
Foreign Exchange on Settlements	$ 0	$ 1	$ (4)	$ 3

Income Taxes (Provision For Inc

Income Taxes (Provision For Income Taxes) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Total Current Tax Expense (Recovery)	$ 3	$ (1)	$ 2	$ 3
Total Deferred Tax Expense (Recovery)	(42)	44	393	140
Income Tax Expense (Recovery)	$ (39)	$ 43	$ 395	$ 143
Effective Tax Rate	2.50%	22.40%	(7.80%)	37.30%
United States [Member]
Total Current Tax Expense (Recovery)	$ 4	$ 1	$ 3	$ 3
Total Deferred Tax Expense (Recovery)	(41)	56	(180)	117
Canada [Member]
Total Current Tax Expense (Recovery)	(1)	(2)	(1)	0
Total Deferred Tax Expense (Recovery)	0	(12)	573	22
Other Countries [Member]
Total Deferred Tax Expense (Recovery)	$ (1)	$ 0	$ 0	$ 1

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Millions	Jan. 01, 2022	Jan. 01, 2021	Jul. 01, 2020	Jan. 01, 2020	Jul. 01, 2019	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2018
Income Tax Disclosure [Line Items]
Deferred income taxes						$ (42)	$ 44	$ 393	$ 140
Effective Tax Rate						2.50%	22.40%	(7.80%)	37.30%
Alberta [Member]
Income Tax Disclosure [Line Items]
Statutory Tax Rate					11.00%					12.00%
Effect of legislative changes									$ 55
Tax Legislation [Member] | Alberta [Member]
Income Tax Disclosure [Line Items]
Statutory Tax Rate			8.00%
Provincial tax rate reduction from Job Creation Tax Cut				1.00%
Tax Legislation [Member] | Alberta [Member] | Tax Rate Changes [Member]
Income Tax Disclosure [Line Items]
Statutory Tax Rate	8.00%
Provincial tax rate reduction from Job Creation Tax Cut	1.00%	1.00%
Canada [Member]
Income Tax Disclosure [Line Items]
Deferred income taxes								$ (1,200)
Statutory Tax Rate									26.60%
Valuation Allowance, Increase (Decrease), Amount								$ 568
United States [Member]
Income Tax Disclosure [Line Items]
Statutory Tax Rate								21.00%

Business Combination (Narrative

Business Combination (Narrative) (Details) - Newfield Exploration Company [Member] shares in Millions, $ in Millions		Feb. 13, 2019USD ($)shares	Sep. 30, 2019USD ($)
Business Acquisition [Line Items]
Business acquisition completed date		Feb. 13, 2019
Payments to acquire businesses		$ 3,483
Business acquisition, payment in cash	[1]	5
Business acquisition transaction costs			$ 33
Business acquisition related costs			71
Business acquisition severance payments			$ 134
Senior Notes [Member]
Business Acquisition [Line Items]
Business acquisition, senior notes remain outstanding		$ 2,450
Pre-Share Consolidation Basis [Member]
Business Acquisition [Line Items]
Business Acquisition Stock Exchange Ratio		2.6719
Business acquisition, number of shares issued | shares		543.4
[1]	The fair value was based on a price of $6.50 per notional unit which was determined using a volume-weighted average of the trading price of pre-Share Consolidation Encana common shares on the NYSE on each of the five consecutive trading days ending on the trading day that was three trading days prior to February 13, 2019.

Business Combination - Schedule

Business Combination - Schedule of Purchase Price Allocations (Details) - USD ($) $ in Millions		Feb. 13, 2019	Sep. 30, 2020	Dec. 31, 2019
Assets Acquired:
Goodwill			$ 2,594	$ 2,611
Newfield Exploration Company [Member]
Consideration:
Fair value of Encana's common shares issued	[1]	$ 3,478
Business acquisition, payment in cash	[2]	5
Total Consideration		3,483
Assets Acquired:
Cash and cash equivalents		46
Accounts receivable and accrued revenues		486
Other current assets		50
Restricted cash		53
Other assets		105
Goodwill	[3]	25
Liabilities Assumed:
Accounts payable and accrued liabilities	[3],[4]	(795)
Long-term debt		(2,603)
Operating lease liabilities		(76)
Other long-term liabilities	[3]	(65)
Asset retirement obligation		(184)
Deferred income taxes	[3]	(322)
Total Purchase Price		3,483
Proved Properties [Member] | Newfield Exploration Company [Member]
Assets Acquired:
Property, plant and equipment, net		5,903
Unproved Properties [Member] | Newfield Exploration Company [Member]
Assets Acquired:
Property, plant and equipment, net		838
Other Property, Plant and Equipment [Member] | Newfield Exploration Company [Member]
Assets Acquired:
Property, plant and equipment, net		$ 22
[1]	The fair value was based on the NYSE closing price of the pre-Share Consolidation Encana common shares of $6.40 on February 13, 2019.
[2]	The fair value was based on a price of $6.50 per notional unit which was determined using a volume-weighted average of the trading price of pre-Share Consolidation Encana common shares on the NYSE on each of the five consecutive trading days ending on the trading day that was three trading days prior to February 13, 2019.
[3]	Since the completion of the business combination on February 13, 2019, additional information related to pre-acquisition liabilities and contingencies was obtained resulting in a measurement period adjustment. Changes in the fair value estimates comprised an increase in other liabilities of $16 million, of which approximately $11 million is presented in accounts payable and accrued liabilities and $5 million is presented in other long-term liabilities, a decrease in deferred tax liabilities of $4 million and a corresponding increase in goodwill of $12 million.
[4]	In conjunction with the acquisition, various legal claims and actions arising in the normal course of Newfield’s operations were assumed by the Company. On March 29, 2019, Newfield and its wholly-owned subsidiary entered into an Agreement and Mutual Release with Sapura Energy Berhad, formerly known as SapuraKencana Petroleum Berhad, and Sapura Exploration and Production Inc., formerly known as SapuraKencana Energy Inc. (collectively, “Sapura”), and agreed to settle arbitration claims in the amount of $22.5 million arising from Sapura’s purchase of Newfield’s Malaysian business in February 2014. The settlement amount including legal fees was included in the purchase price allocation as part of the current liabilities assumed at the acquisition date. Although the outcome of any remaining legal claims and actions assumed following the acquisition of Newfield cannot be predicted with certainty, the Company does not expect these matters to have a material adverse effect on the Company’s financial position, cash flows or results of operations.

Business Combination - Schedu_2

Business Combination - Schedule of Purchase Price Allocations (Parenthetical) (Details) - Newfield Exploration Company [Member] - USD ($) $ / shares in Units, $ in Millions	Mar. 29, 2019	Feb. 13, 2019
Business Acquisition [Line Items]
Business acquisition price per share		$ 6.40
Business acquisition Fair value notional share price		$ 6.50
Business acquisition consecutive trading days		5 days
Increase in other liabilities		$ 16
Decrease in deferred tax liabilities		4
Increase in goodwill		12
Sapura [Member]
Business Acquisition [Line Items]
Legal settlements paid	$ 22.5
Accounts Payable and Accrued Liabilities [Member]
Business Acquisition [Line Items]
Increase in other liabilities		11
Other Long-term Liabilities [Member]
Business Acquisition [Line Items]
Increase in other liabilities		$ 5

Business Combination - Schedu_3

Business Combination - Schedule of Unaudited Pro Forma Financial Information (Details) - Newfield Exploration Company [Member] $ / shares in Units, $ in Millions	9 Months Ended
	Sep. 30, 2019USD ($)$ / shares
Business Acquisition [Line Items]
Revenues	$ 5,440
Net Earnings (Loss)	$ 376
Net Earnings (Loss) per Share (1)
Basic & Diluted | $ / shares	$ 1.44

Acquisitions and Divestitures_2

Acquisitions and Divestitures (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Acquisitions and Divestitures [Line Items]
Acquisitions	$ 1	$ 25	$ 19	$ 66
Divestitures	(39)	(171)	(69)	(177)
Net Acquisitions and Divestitures	(38)	(146)	(50)	(111)
Operating Segments [Member] | USA Operations [Member]
Acquisitions and Divestitures [Line Items]
Acquisitions	1	25	19	66
Divestitures	(36)	(171)	(63)	(177)
Operating Segments [Member] | Canadian Operations [Member]
Acquisitions and Divestitures [Line Items]
Divestitures	$ (3)	$ 0	$ (6)	$ 0

Acquisitions and Divestitures_3

Acquisitions and Divestitures (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Acquisitions and Divestitures [Line Items]
Divestitures	$ 39	$ 171	$ 69	$ 177
USA Operations [Member] | Operating Segments [Member]
Acquisitions and Divestitures [Line Items]
Acquisitions			19	66
Divestitures	36	171	63	177
Canadian Operations [Member] | Operating Segments [Member]
Acquisitions and Divestitures [Line Items]
Divestitures	$ 3	$ 0	$ 6	$ 0

Property, Plant and Equipment_3

Property, Plant and Equipment, Net (Schedule Of Property, Plant And Equipment) (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Cost	$ 56,708	$ 55,828
Less: Accumulated depreciation, depletion and amortization	(46,485)	(40,637)
Property, plant and equipment, net	10,223	15,191
Operating Segments [Member] | USA Operations [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Cost	40,438	39,380
Less: Accumulated depreciation, depletion and amortization	(31,581)	(25,623)
Property, plant and equipment, net	8,857	13,757
Operating Segments [Member] | Canadian Operations [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Cost	15,428	15,525
Less: Accumulated depreciation, depletion and amortization	(14,266)	(14,320)
Property, plant and equipment, net	1,162	1,205
Operating Segments [Member] | Market Optimization [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, net	2	2
Corporate & Other [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, net	202	227
Proved Properties [Member] | Operating Segments [Member] | USA Operations [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Cost	37,426	35,870
Less: Accumulated depreciation, depletion and amortization	(31,581)	(25,623)
Property, plant and equipment, net	5,845	10,247
Proved Properties [Member] | Operating Segments [Member] | Canadian Operations [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Cost	15,227	15,284
Less: Accumulated depreciation, depletion and amortization	(14,266)	(14,320)
Property, plant and equipment, net	961	964
Unproved Properties [Member] | Operating Segments [Member] | USA Operations [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Cost	2,980	3,491
Less: Accumulated depreciation, depletion and amortization	0	0
Property, plant and equipment, net	2,980	3,491
Unproved Properties [Member] | Operating Segments [Member] | Canadian Operations [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Cost	188	223
Less: Accumulated depreciation, depletion and amortization	0	0
Property, plant and equipment, net	188	223
Other Capitalized Property Plant and Equipment [Member] | Operating Segments [Member] | USA Operations [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Cost	32	19
Less: Accumulated depreciation, depletion and amortization	0	0
Property, plant and equipment, net	32	19
Other Capitalized Property Plant and Equipment [Member] | Operating Segments [Member] | Canadian Operations [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Cost	13	18
Less: Accumulated depreciation, depletion and amortization	0	0
Property, plant and equipment, net	13	18
Other Capitalized Property Plant and Equipment [Member] | Operating Segments [Member] | Market Optimization [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Cost	9	9
Less: Accumulated depreciation, depletion and amortization	(7)	(7)
Property, plant and equipment, net	2	2
Other Capitalized Property Plant and Equipment [Member] | Corporate & Other [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Cost	833	914
Less: Accumulated depreciation, depletion and amortization	(631)	(687)
Property, plant and equipment, net	$ 202	$ 227

Property, Plant and Equipment_4

Property, Plant and Equipment, Net (Narrative) (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2020USD ($)Lease	Sep. 30, 2019USD ($)	Dec. 31, 2019USD ($)
Property, Plant and Equipment [Line Items]
Internal Costs Capitalized			$ 133	$ 171
Property, Plant and Equipment, Net	$ 34		34		$ 37
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	669		$ 669		$ 677
Number of finance lease arrangements | Lease			2
Operating Segments [Member] | USA Operations [Member]
Property, Plant and Equipment [Line Items]
Impairments	$ 1,336		$ 4,863

Property, Plant and Equipment_5

Property, Plant and Equipment, Net (Schedule of Twelve Month Average Trailing Reserves Prices) (Details)		9 Months Ended		12 Months Ended
		Sep. 30, 2020$ / bbl$ / bbl$ / MMBTU$ / MMBTU	Sep. 30, 2019$ / bbl$ / bbl$ / MMBTU$ / MMBTU	Dec. 31, 2019$ / bbl$ / bbl$ / MMBTU$ / MMBTU
Oil and NGLs [Member] | WTI [Member]
Property, Plant and Equipment [Line Items]
12-Month Average Trailing Reserves Pricing | $ / bbl	[1]	43.69	57.76	55.93
Oil and NGLs [Member] | Edmonton Condensate [Member]
Property, Plant and Equipment [Line Items]
12-Month Average Trailing Reserves Pricing | $ / bbl	[1]	53.93	67.81	68.80
Natural Gas [Member] | Henry Hub [Member]
Property, Plant and Equipment [Line Items]
12-Month Average Trailing Reserves Pricing | $ / MMBTU	[1]	1.97	2.87	2.58
Natural Gas [Member] | AECO [Member]
Property, Plant and Equipment [Line Items]
12-Month Average Trailing Reserves Pricing | $ / MMBTU	[1]	2.01	1.52	1.76
[1]	All prices were held constant in all future years when estimating net revenues and reserves

Leases (Schedule of Estimated F

Leases (Schedule of Estimated Future Sublease Income) (Details) $ in Millions	9 Months Ended
	Sep. 30, 2020USD ($)
Leases [Abstract]
2020	$ 12
2021	50
2022	46
2023	44
2024	44
Thereafter	543
Total	$ 739

Leases (Narrative) (Details)

Leases (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Leases [Abstract]
Operating lease income	$ 14	$ 15	$ 40	$ 41
Variable lease income	$ 4	$ 4	$ 13	$ 13

Long-Term Debt (Schedule Of Lon

Long-Term Debt (Schedule Of Long-Term Debt) (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Revolving credit and term loan borrowings	$ 1,150	$ 698
Total Principal	7,059	6,859
Increase in Value of Debt Acquired	119	149
Unamortized Debt Discounts and Issuance Costs	(36)	(34)
Total Long-Term Debt	7,142	6,974
Current Portion	0	0
Long-Term Debt	7,142	6,974
3.90% Unsecured Notes [Member] | Unsecured Notes, Due November 15, 2021 [Member]
Debt Instrument [Line Items]
Unsecured Debt	$ 554	$ 600
Debt Instrument, Interest Rate, Stated Percentage	3.90%	3.90%
Debt Instrument, Maturity Date	Nov. 15, 2021	Nov. 15, 2021
5.75% Unsecured Notes [Member] | Unsecured Notes, Due January 30, 2022 [Member]
Debt Instrument [Line Items]
Unsecured Debt	$ 605	$ 750
Debt Instrument, Interest Rate, Stated Percentage	5.75%	5.75%
Debt Instrument, Maturity Date	Jan. 30, 2022	Jan. 30, 2022
5.625% Unsecured Notes [Member] | Unsecured Notes, Due July 1, 2024 [Member]
Debt Instrument [Line Items]
Unsecured Debt	$ 1,000	$ 1,000
Debt Instrument, Interest Rate, Stated Percentage	5.625%	5.625%
Debt Instrument, Maturity Date	Jul. 1, 2024	Jul. 1, 2024
5.375% Unsecured Notes [Member] | Unsecured Notes, Due Jan 1, 2026 [Member]
Debt Instrument [Line Items]
Unsecured Debt	$ 688	$ 700
Debt Instrument, Interest Rate, Stated Percentage	5.375%	5.375%
Debt Instrument, Maturity Date	Jan. 1, 2026	Jan. 1, 2026
8.125% Unsecured Notes [Member] | Unsecured Notes, Due September 15, 2030 [Member]
Debt Instrument [Line Items]
Unsecured Debt	$ 300	$ 300
Debt Instrument, Interest Rate, Stated Percentage	8.125%	8.125%
Debt Instrument, Maturity Date	Sep. 15, 2030	Sep. 15, 2030
7.20% Unsecured Notes [Member] | Unsecured Notes, Due November 1, 2031 [Member]
Debt Instrument [Line Items]
Unsecured Debt	$ 350	$ 350
Debt Instrument, Interest Rate, Stated Percentage	7.20%	7.20%
Debt Instrument, Maturity Date	Nov. 1, 2031	Nov. 1, 2031
7.375% Unsecured Notes [Member] | Unsecured Notes, Due November 1, 2031 [Member]
Debt Instrument [Line Items]
Unsecured Debt	$ 500	$ 500
Debt Instrument, Interest Rate, Stated Percentage	7.375%	7.375%
Debt Instrument, Maturity Date	Nov. 1, 2031	Nov. 1, 2031
6.50% Unsecured Notes [Member] | Unsecured Notes, Due August 15, 2034 [Member]
Debt Instrument [Line Items]
Unsecured Debt	$ 750	$ 750
Debt Instrument, Interest Rate, Stated Percentage	6.50%	6.50%
Debt Instrument, Maturity Date	Aug. 15, 2034	Aug. 15, 2034
6.50% Unsecured Notes [Member] | Unsecured Notes, Due February 1, 2038 [Member]
Debt Instrument [Line Items]
Unsecured Debt	$ 488	$ 505
Debt Instrument, Interest Rate, Stated Percentage	6.50%	6.50%
Debt Instrument, Maturity Date	Feb. 1, 2038	Feb. 1, 2038
6.625% Unsecured Notes [Member] | Unsecured Notes, Due August 15, 2037 [Member]
Debt Instrument [Line Items]
Unsecured Debt	$ 462	$ 462
Debt Instrument, Interest Rate, Stated Percentage	6.625%	6.625%
Debt Instrument, Maturity Date	Aug. 15, 2037	Aug. 15, 2037
5.15% Unsecured Notes [Member] | Unsecured Notes, Due November 15, 2041 [Member]
Debt Instrument [Line Items]
Unsecured Debt	$ 212	$ 244
Debt Instrument, Interest Rate, Stated Percentage	5.15%	5.15%
Debt Instrument, Maturity Date	Nov. 15, 2041	Nov. 15, 2041

Long-Term Debt (Narrative) (Det

Long-Term Debt (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Debt Instrument [Line Items]
Principal amount of repurchased senior notes	$ 252		$ 252
Aggregate cash payment for repurchased debt	109	$ 0	224	$ 500
Recognized net gain on debt	6		28
Outstanding commercial paper	140		140
Long-term debt carrying value	7,142		7,142		$ 6,974
Long-term debt, fair value	6,804		$ 6,804		$ 7,657
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Expiration year			2024
Line of credit	$ 1,010		$ 1,010
Commercial Paper [Member]
Debt Instrument [Line Items]
Weighted average interest rate	0.87%		0.87%
Senior Notes, Due November 2021 [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	3.90%		3.90%
Senior Notes, Due January 2022 [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	5.75%		5.75%
Senior Notes, Due January 2026 [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	5.375%		5.375%
Senior Notes, Due February 2038 [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	6.50%		6.50%
Senior Notes, Due November 2041 [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	5.15%		5.15%
3.9% Senior Notes [Member]
Debt Instrument [Line Items]
Debt instrument, maturity month and year			2021-11
3.9% Senior Notes [Member] | Senior Notes, Due November 2021 [Member]
Debt Instrument [Line Items]
Principal amount of repurchased senior notes	$ 46		$ 46
5.75% Senior Notes [Member]
Debt Instrument [Line Items]
Debt instrument, maturity month and year			2022-01
5.75% Senior Notes [Member] | Senior Notes, Due January 2022 [Member]
Debt Instrument [Line Items]
Principal amount of repurchased senior notes	145		$ 145
5.375% Senior Notes [Member]
Debt Instrument [Line Items]
Debt instrument, maturity month and year			2026-01
5.375% Senior Notes [Member] | Senior Notes, Due January 2026 [Member]
Debt Instrument [Line Items]
Principal amount of repurchased senior notes	12		$ 12
6.5% Senior Notes [Member]
Debt Instrument [Line Items]
Debt instrument, maturity month and year			2038-02
6.5% Senior Notes [Member] | Senior Notes, Due February 2038 [Member]
Debt Instrument [Line Items]
Principal amount of repurchased senior notes	17		$ 17
5.15% Senior Notes [Member]
Debt Instrument [Line Items]
Debt instrument, maturity month and year			2041-11
5.15% Senior Notes [Member] | Senior Notes, Due November 2041 [Member]
Debt Instrument [Line Items]
Principal amount of repurchased senior notes	$ 32		$ 32

Other Liabilities and Provisi_3

Other Liabilities and Provisions (Schedule of Other Liabilities and Provisions) (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Other Liabilities And Provisions [Line Items]
Obligation under Finance Lease	$ 51	$ 121
Pensions and Other Post-Employment Benefits	123	119
Long-Term Incentives	23	38
Other Derivative Contracts, Liabilities	11	9
Other	16	20
Other Liabilities and Provisions	377	464
Other Liabilities and Provisions [Member]
Other Liabilities And Provisions [Line Items]
Unrecognized Tax Benefits	155	159
Other Derivative Contracts, Liabilities	$ 9	$ 7

Asset Retirement Obligation (Sc

Asset Retirement Obligation (Schedule of Change In Asset Retirement Obligation) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Asset Retirement Obligation Disclosure [Abstract]
Asset Retirement Obligation, Beginning of Year			$ 614	$ 455	$ 455
Liabilities Incurred	$ 2	$ 2	11	13	15
Liabilities Acquired (See Note 8)			0		184
Liabilities Settled and Divested			(157)		(141)
Change in Estimated Future Cash Outflows	(10)	0	12	0	47
Accretion of asset retirement obligation	8	$ 9	26	$ 28	37
Foreign Currency Translation			(11)		17
Asset Retirement Obligation, End of Period	$ 495		$ 495		$ 614

Asset Retirement Obligation (_2

Asset Retirement Obligation (Schedule of Asset Retirement Obligation) (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019	Dec. 31, 2018
Asset Retirement Obligation Disclosure [Abstract]
Current Portion	$ 49	$ 189
Long-Term Portion	446	425
Asset Retirement Obligation, Total	$ 495	$ 614	$ 455

Share Capital (Narrative) (Deta

Share Capital (Narrative) (Details)	Oct. 28, 2020$ / shares	Jan. 24, 2020USD ($)$ / sharesshares	Aug. 29, 2019USD ($)$ / sharesshares	Feb. 13, 2019shares	Sep. 30, 2020USD ($)$ / sharesshares	Sep. 30, 2019USD ($)$ / shares	Sep. 30, 2020USD ($)$ / sharesshares	Sep. 30, 2019USD ($)$ / shares	Dec. 31, 2019USD ($)shares	Jun. 10, 2019USD ($)	Feb. 27, 2019shares
Class Of Stock [Line Items]
Common stock, shares authorized | shares		775,000,000			775,000,000		775,000,000		775,000,000
Common stock, par value | $ / shares		$ 0.01
Preferred stock, shares authorized | shares		25,000,000
Preferred stock, par value | $ / shares		$ 0.01
Reclassification of Share Capital due to the Reorganization							$ 0
Common Shares Purchased, Shares | shares							0		39,400,000
Common Shares Purchased, value							$ 0		$ 1,073,000,000
Dividends on Common Shares					$ 24,000,000	$ 24,000,000	$ 73,000,000	$ 77,000,000
Common Stock, Dividends, Per Share, Paid | $ / shares					$ 0.09375	$ 0.09375	$ 0.28125	$ 0.28125
Common Stock, Dividends, Per Share, Declared | $ / shares					$ 0.09375	$ 0.09375	$ 0.28125	$ 0.28125
Subsequent Event [Member]
Class Of Stock [Line Items]
Dividends Payable, Date Declared	Oct. 28, 2020
Common Stock, Dividends, Per Share, Declared | $ / shares	$ 0.09375
Dividends Payable, Date to be Paid	Dec. 31, 2020
Dividends Payable, Date of Record	Dec. 15, 2020
Substantial Issuer Bid [Member]
Class Of Stock [Line Items]
Common Shares Purchased, Shares | shares			9,500,000
Common stock purchase price | $ / shares			$ 22.50
Common Shares Purchased, value			$ 213,000,000			$ 213,000,000		$ 213,000,000
Substantial Issuer Bid [Member] | Maximum [Member]
Class Of Stock [Line Items]
Stock Repurchase Program, Authorized Amount										$ 213,000,000
Normal Course Issuer Bid [Member]
Class Of Stock [Line Items]
Common Shares Purchased, Shares | shares							29,900,000		29,900,000
Common Shares Purchased, value								1,037,000,000	$ 1,037,000,000
Stock Repurchase Program, Number of Shares Authorized to be Repurchased | shares											29,900,000
Newfield Exploration Company [Member]
Class Of Stock [Line Items]
Stock Issued During Period, Value, Acquisitions | shares				108,700,000
Newfield Exploration Company [Member] | Pre-Share Consolidation Basis [Member]
Class Of Stock [Line Items]
Stock Issued During Period, Value, Acquisitions | shares				543,400,000
Business Acquisition Stock Exchange Ratio				2.6719
Share Capital [Member]
Class Of Stock [Line Items]
Reclassification of Share Capital due to the Reorganization		$ (7,058,000,000)					$ (7,058,000,000)		0
Dividends on Common Shares					$ 0	0	0	0
Share Capital [Member] | Substantial Issuer Bid [Member]
Class Of Stock [Line Items]
Common Shares Purchased, value			257,000,000			257,000,000		257,000,000
Share Capital [Member] | Normal Course Issuer Bid [Member]
Class Of Stock [Line Items]
Common Shares Purchased, value								816,000,000	816,000,000
Paid In Surplus [Member]
Class Of Stock [Line Items]
Reclassification of Share Capital due to the Reorganization							7,058,000,000
Dividends on Common Shares					0	0	0	0
Paid In Surplus [Member] | Substantial Issuer Bid [Member]
Class Of Stock [Line Items]
Common Shares Purchased, value			$ (44,000,000)			(44,000,000)		(44,000,000)
Paid In Surplus [Member] | Normal Course Issuer Bid [Member]
Class Of Stock [Line Items]
Common Shares Purchased, value								0
Retained Earnings (Accumulated Deficit) [Member]
Class Of Stock [Line Items]
Reclassification of Share Capital due to the Reorganization							0
Dividends on Common Shares					$ 24,000,000	$ 24,000,000	$ 73,000,000	77,000,000
Retained Earnings (Accumulated Deficit) [Member] | Substantial Issuer Bid [Member]
Class Of Stock [Line Items]
Common Shares Purchased, value								0
Retained Earnings (Accumulated Deficit) [Member] | Normal Course Issuer Bid [Member]
Class Of Stock [Line Items]
Common Shares Purchased, value								$ 221,000,000	$ 221,000,000

Share Capital (Schedule of Comm

Share Capital (Schedule of Common Stock Issued and Outstanding) (Details) - USD ($) shares in Millions, $ in Millions	Jan. 24, 2020	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Class Of Stock [Line Items]
Shares of Common Stock Outstanding, Beginning of Year		259.8	190.5	190.5
Shares of Common Stock Purchased		0		(39.4)
Shares of Common Stock Issued		0		108.7
Shares of Common Stock Outstanding, End of Period		259.8		259.8
Shares of Common Stock Outstanding, Beginning of Year		$ 7,061	$ 4,656	$ 4,656
Shares of Common Stock Purchased		0		(1,073)
Shares of Common Stock Issued		0	3,478	3,478
Reclassification of Share Capital due to the Reorganization (See Note 1)		0
Shares of Common Stock Outstanding, End of Period		3		7,061
Share Capital [Member]
Class Of Stock [Line Items]
Shares of Common Stock Issued			$ 3,478
Reclassification of Share Capital due to the Reorganization (See Note 1)	$ (7,058)	$ (7,058)		$ 0

Share Capital (Earnings Per Com

Share Capital (Earnings Per Common Share) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Class Of Stock Disclosures [Abstract]
Net Earnings (Loss)		$ (1,521)	$ 149	$ (5,483)	$ 240
Weighted average shares of common stock outstanding - Basic		259.8	264.6	259.8	261.7
Effect of dilutive securities		0	0	0	0
Weighted Average Shares of Common Stock Outstanding - Diluted		259.8	264.6	259.8	261.7
Net Earnings (Loss) per Common Share Basic & Diluted	[1]	$ (5.85)	$ 0.56	$ (21.10)	$ 0.92
[1]	Net earnings (loss) per share of common stock and weighted average shares of common stock outstanding reflect the Share Consolidation as described in Note 1. Accordingly, the comparative periods have been restated.

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Accumulated Other Comprehensive Income Loss Net Of Tax [Abstract]
Balance, Beginning of Period, Foreign currency translation adjustment	$ 957	$ 1,014	$ 1,004	$ 976
Change in Foreign Currency Translation Adjustment	26	(6)	(21)	32
Balance, End of Period, Foreign currency translation adjustment	983	1,008	983	1,008
Pension and Other Post-Employment Benefit Plans
Balance, Beginning of Period	43	(2)	42	22
Other Comprehensive Income Before Reclassifications:
Net prior service costs from plan amendment	0	0	0	(29)
Income taxes	0	0	0	6
Amounts Reclassified from Other Comprehensive Income:
Reclassification of net actuarial (gains) and losses to net earnings	(2)	0	(6)	(1)
Income taxes	0	0	1	0
Curtailment in net defined periodic benefit cost	0	0	5	0
Income taxes	0	0	(1)	0
Balance, End of Period	41	(2)	41	(2)
Total Accumulated Other Comprehensive Income	$ 1,024	$ 1,006	$ 1,024	$ 1,006	$ 1,046

Variable Interest Entities (Nar

Variable Interest Entities (Narrative) (Details) $ in Millions	9 Months Ended
	Sep. 30, 2020USD ($)MMcf	Dec. 31, 2019USD ($)
Variable Interest Entity [Line Items]
Accounts payable and accrued liabilities, current	$ 1,615	$ 2,239
Veresen Midstream Limited Partnership [Member]
Variable Interest Entity [Line Items]
Variable interest entity, financial support, term of assessment	8 years
Variable interest entity, reporting entity involvement, maximum loss exposure, amount	$ 1,858
Veresen Midstream Limited Partnership [Member] | Take or Pay Commitment [Member]
Variable Interest Entity [Line Items]
Accounts payable and accrued liabilities, current	$ 0.6
Veresen Midstream Limited Partnership [Member] | Natural gas gathering and compression [Member]
Variable Interest Entity [Line Items]
Contracted capacity volumes | MMcf	1,213
Veresen Midstream Limited Partnership [Member] | Natural gas processing [Member]
Variable Interest Entity [Line Items]
Contracted capacity volumes | MMcf	932
Veresen Midstream Limited Partnership [Member] | Minimum [Member]
Variable Interest Entity [Line Items]
Length of remaining terms, in years	11 years
Veresen Midstream Limited Partnership [Member] | Maximum [Member]
Variable Interest Entity [Line Items]
Length of remaining terms, in years	25 years
Length of renewal term, in years	10 years

Restructuring Charges (Narrativ

Restructuring Charges (Narrative) (Details) - USD ($) $ in Millions	1 Months Ended		3 Months Ended		9 Months Ended		12 Months Ended
	Jun. 30, 2020	Feb. 28, 2019	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019	Dec. 31, 2018
Restructuring Charges [Abstract]
Restructuring Charges			$ 7	$ 4	$ 88	$ 134	$ 138
Restructuring and Related Activities, Initiation Date	Jun. 1, 2020	Feb. 1, 2019
Workforce reduction percentage	25.00%
Restructuring Reserve			14		14		$ 8	$ 0
Expected transition and severance costs			$ 93		$ 93

Restructuring Charges (Restruct

Restructuring Charges (Restructuring Costs Expensed) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Restructuring Charges [Abstract]
Severance and Benefits	$ 6	$ 4	$ 86	$ 132
Outplacement, Moving and Other Expenses	1	0	2	2
Restructuring Expenses	$ 7	$ 4	$ 88	$ 134	$ 138

Restructuring Charges (Schedule

Restructuring Charges (Schedule of Change in Restructuring Accrual) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Restructuring Charges [Abstract]
Outstanding Restructuring Accrual, Beginning of Year			$ 8	$ 0	$ 0
Restructuring Expenses Incurred	$ 7	$ 4	88	$ 134	138
Restructuring Costs Paid			(82)		(130)
Outstanding Restructuring Accrual, End of Period	$ 14		$ 14		$ 8

Compensation Plans (Schedule of

Compensation Plans (Schedule of Weighted Average Assumptions Used to Fair Value Share Units) (Details)	9 Months Ended
	Sep. 30, 2020$ / shares	Sep. 30, 2019$ / shares	Sep. 30, 2020$ / shares	Sep. 30, 2019$ / shares
United States Of America Dollars [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair Value Assumptions, Risk Free Interest Rate	0.22%	1.58%
Fair Value Assumptions, Dividend Yield	4.60%	1.63%
Fair Value Assumptions, Expected Volatility Rate	102.43%	44.14%
Fair Value Assumptions, Expected Term	2 years 6 months	2 years 10 months 24 days
Market Share Price	$ 8.16	$ 23
Canadian Dollar [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair Value Assumptions, Risk Free Interest Rate	0.22%	1.58%
Fair Value Assumptions, Dividend Yield	4.66%	1.64%
Fair Value Assumptions, Expected Volatility Rate	101.65%	42.77%
Fair Value Assumptions, Expected Term	2 years	2 years 7 months 6 days
Market Share Price			$ 10.89	$ 30.35

Compensation Plans (Amounts Rec

Compensation Plans (Amounts Recognized For Share-Based Payment Transactions) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total Compensation Costs of Transactions Classified as Cash-Settled	$ 4	$ 2	$ (12)	$ 46
Less: Total Share-Based Compensation Costs Capitalized	(2)	(1)	3	(16)
Total Share-Based Compensation Expense	2	1	(9)	30
Operating Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total Share-Based Compensation Expense	1	0	(3)	12
Administrative Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total Share-Based Compensation Expense	$ 1	$ 1	$ (6)	$ 18

Compensation Plans (Narrative)

Compensation Plans (Narrative) (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Liability for cash-settled share-based payment transactions	$ 47	$ 78
Liability for share-based payment recognized in accounts payable and accrued liabilities	24	40
Liability for share-based payment recognized in other liabilities and provisions	$ 23	$ 38
Restricted Share Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares vested on number granted in each of the years	33.33%
Shares vesting period	3 years

Compensation Plans (Liability F

Compensation Plans (Liability For Share-Based Payment Transactions) (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Liability for Unvested Cash-Settled Share-Based Payment Transactions	$ 42	$ 65
Liability for Vested Cash-Settled Share-Based Payment Transactions	5	13
Liability for Cash-Settled Share-Based Payment Transactions	$ 47	$ 78

Compensation Plans (Schedule _2

Compensation Plans (Schedule of Share-based Compensation, Activity) (Details) shares in Thousands	9 Months Ended
	Sep. 30, 2020shares
Restricted Share Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	6,698
Performance Share Units (PSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	2,293
Deferred Share Units (DSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	65

Pension and Other Post-Employ_3

Pension and Other Post-Employment Benefits (Total Benefit Plan Expense Recognized) (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Defined Benefit Plan Disclosure [Line Items]
Net Defined Periodic Benefit Cost	$ 2	$ 14
Defined Contribution Plan Expense	24	18
Total Benefit Plans Expense	26	32
Pension Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Net Defined Periodic Benefit Cost	0	1
Defined Contribution Plan Expense	24	18
Total Benefit Plans Expense	24	19
OPEB [Member]
Defined Benefit Plan Disclosure [Line Items]
Net Defined Periodic Benefit Cost	2	13
Defined Contribution Plan Expense	0	0
Total Benefit Plans Expense	$ 2	$ 13

Pension and Other Post-Employ_4

Pension and Other Post-Employment Benefits (Narrative) (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Defined Benefit Plan Disclosure [Line Items]
Pension and Other Postretirement (Benefit) Expense	$ 26	$ 32
Operating Expense [Member]
Defined Benefit Plan Disclosure [Line Items]
Pension and Other Postretirement (Benefit) Expense	22	20
Administrative Expense [Member]
Defined Benefit Plan Disclosure [Line Items]
Pension and Other Postretirement (Benefit) Expense	5	6
Other Nonoperating Income (Expense) [Member]
Defined Benefit Plan Disclosure [Line Items]
Pension and Other Postretirement (Benefit) Expense	$ (1)	$ 6

Pension and Other Post-Employ_5

Pension and Other Post-Employment Benefits (Defined Periodic Pension And OPEB Expense) (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Defined Benefit Plan Disclosure [Line Items]
Service Cost	$ 3	$ 8
Interest Cost	6	8
Expected Return on Plan Assets	(5)	(5)
Amortization of net actuarial (gains) and losses	(6)	(1)
Curtailment from net prior service costs	5	0
Curtailment	(1)	4
Total Net Defined Periodic Benefit Cost	2	14
Defined Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Service Cost	0	1
Interest Cost	4	5
Expected Return on Plan Assets	(5)	(5)
Amortization of net actuarial (gains) and losses	1	0
Curtailment from net prior service costs	0	0
Curtailment	0	0
Total Net Defined Periodic Benefit Cost	0	1
OPEB [Member]
Defined Benefit Plan Disclosure [Line Items]
Service Cost	3	7
Interest Cost	2	3
Expected Return on Plan Assets	0	0
Amortization of net actuarial (gains) and losses	(7)	(1)
Curtailment from net prior service costs	5	0
Curtailment	(1)	4
Total Net Defined Periodic Benefit Cost	$ 2	$ 13

Fair Value Measurements (Schedu

Fair Value Measurements (Schedule Of Fair Value, Assets And Liabilities Measured On Recurring Basis) (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Risk Management Assets, Net, Current	$ 170	$ 148
Risk Management Assets, Net, Long-term	8	2
Risk Management Liabilities, Net, Current	65	114
Risk Management Liabilities, Net, Long-term	154	68
Guarantor Obligations, Current Carrying Value	11	9
Other Liabilities and Provisions [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Guarantor Obligations, Current Carrying Value	9	7
Other Liabilities and Provisions [Member] | Carrying Amount [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Guarantor Obligations, Current Carrying Value	9	7
Other Liabilities and Provisions [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Guarantor Obligations, Current Carrying Value	0	0
Other Liabilities and Provisions [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Guarantor Obligations, Current Carrying Value	9	7
Other Liabilities and Provisions [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Guarantor Obligations, Current Carrying Value	0	0
Accounts Payable and Accrued Liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Guarantor Obligations, Current Carrying Value	2	2
Accounts Payable and Accrued Liabilities [Member] | Carrying Amount [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Guarantor Obligations, Current Carrying Value	2	2
Accounts Payable and Accrued Liabilities [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Guarantor Obligations, Current Carrying Value	0	0
Accounts Payable and Accrued Liabilities [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Guarantor Obligations, Current Carrying Value	2	2
Accounts Payable and Accrued Liabilities [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Guarantor Obligations, Current Carrying Value	0	0
Commodity Derivatives [Member] | Other Current Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Risk Management Assets, Gross assets	229	202
Risk Management Assets, Gross Liabilities	(69)	(67)
Risk Management Assets, Net, Current	160	135
Commodity Derivatives [Member] | Other Current Assets [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Risk Management Assets, Gross assets	0	0
Commodity Derivatives [Member] | Other Current Assets [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Risk Management Assets, Gross assets	143	202
Commodity Derivatives [Member] | Other Current Assets [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Risk Management Assets, Gross assets	86	0
Commodity Derivatives [Member] | Other Noncurrent Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Risk Management Assets, Gross assets	14	6
Risk Management Assets, Gross Liabilities	(8)	(4)
Risk Management Assets, Net, Long-term	6	2
Commodity Derivatives [Member] | Other Noncurrent Assets [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Risk Management Assets, Gross assets	0	0
Commodity Derivatives [Member] | Other Noncurrent Assets [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Risk Management Assets, Gross assets	14	6
Commodity Derivatives [Member] | Other Noncurrent Assets [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Risk Management Assets, Gross assets	0	0
Commodity Derivatives [Member] | Other Current Liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Risk Management Liabilities, Gross liabilities	134	181
Risk Management Liabilities, Gross Assets	(69)	(67)
Risk Management Liabilities, Net, Current	65	114
Commodity Derivatives [Member] | Other Current Liabilities [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Risk Management Liabilities, Gross liabilities	2	1
Commodity Derivatives [Member] | Other Current Liabilities [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Risk Management Liabilities, Gross liabilities	129	139
Commodity Derivatives [Member] | Other Current Liabilities [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Risk Management Liabilities, Gross liabilities	3	41
Commodity Derivatives [Member] | Other Liabilities and Provisions [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Risk Management Liabilities, Gross liabilities	162	72
Risk Management Liabilities, Gross Assets	(8)	(4)
Risk Management Liabilities, Net, Long-term	154	68
Commodity Derivatives [Member] | Other Liabilities and Provisions [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Risk Management Liabilities, Gross liabilities	0	0
Commodity Derivatives [Member] | Other Liabilities and Provisions [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Risk Management Liabilities, Gross liabilities	158	61
Commodity Derivatives [Member] | Other Liabilities and Provisions [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Risk Management Liabilities, Gross liabilities	4	11
Foreign Currency Derivatives [Member] | Other Current Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Risk Management Assets, Gross assets	10	13
Risk Management Assets, Gross Liabilities	0	0
Risk Management Assets, Net, Current	10	13
Foreign Currency Derivatives [Member] | Other Current Assets [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Risk Management Assets, Gross assets	0	0
Foreign Currency Derivatives [Member] | Other Current Assets [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Risk Management Assets, Gross assets	10	13
Foreign Currency Derivatives [Member] | Other Current Assets [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Risk Management Assets, Gross assets	0	$ 0
Foreign Currency Derivatives [Member] | Other Noncurrent Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Risk Management Assets, Gross assets	2
Risk Management Assets, Gross Liabilities	0
Risk Management Assets, Net, Long-term	2
Foreign Currency Derivatives [Member] | Other Noncurrent Assets [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Risk Management Assets, Gross assets	0
Foreign Currency Derivatives [Member] | Other Noncurrent Assets [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Risk Management Assets, Gross assets	2
Foreign Currency Derivatives [Member] | Other Noncurrent Assets [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Risk Management Assets, Gross assets	$ 0

Fair Value Measurements (Summar

Fair Value Measurements (Summary Of Changes In Level 3 Fair Value Measurements for Risk Management Positions) (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Abstract]
Balance, Beginning Balance	$ (52)	$ 139
Total Gains (Losses)	214	24
Purchases, sales and issuances	0	0
Settlements	(83)	(49)
Transfers Out of Level 3	0	0
Balance, Ending Balance	79	114
Change in Unrealized Gains (Losses) During the Period Included in Net Earnings (Loss)	$ 131	$ (25)

Fair Value Measurements (Quanti

Fair Value Measurements (Quantitative Information About Unobservable Inputs Used In Level 3) (Details) - WTI Options [Member] - Option Model [Member]	9 Months Ended
	Sep. 30, 2020
Minimum [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Fair Value Inputs Commodity Price Volatility	33.00%
Maximum [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Fair Value Inputs Commodity Price Volatility	62.00%
Weighted Average [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Fair Value Inputs Commodity Price Volatility	42.00%

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Ten Percent Change in Implied Volatility [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Increase (Decrease) in Risk Management Assets and Liabilities	$ 5	$ 8

Financial Instruments and Ris_3

Financial Instruments and Risk Management (Narrative) (Details)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2020USD ($)contractitem$ / $	Sep. 30, 2019USD ($)	Sep. 30, 2020USD ($)contractitem$ / $	Sep. 30, 2019USD ($)	Dec. 31, 2019USD ($)item
Derivative [Line Items]
Realized Gains (Loss) on Derivatives	$ 91,000,000	$ 124,000,000	$ 598,000,000	$ 302,000,000
Unrealized Gain (Losses) on Derivatives	$ (228,000,000)	(52,000,000)	$ (19,000,000)	(359,000,000)
Number of credit risk derivatives held | contract	0		0
Collateral balances	$ 0		$ 0
Concentration risk, percentage			97.00%		95.00%
Number of counterparties with more than 10% of fair value of outstanding risk management contracts | item	4		4		6
Guarantor Obligations, Term			one to four years
Guarantor Obligations, Current Carrying Value	$ 11,000,000		$ 11,000,000		$ 9,000,000
Guarantor Obligations, Maximum Exposure, Undiscounted	95,000,000		$ 95,000,000
Counterparty One [Member]
Derivative [Line Items]
Percent Of The Fair Value Of Outstanding In The Money Net Risk Management Contracts			23.00%		26.00%
Counterparty Two [Member]
Derivative [Line Items]
Percent Of The Fair Value Of Outstanding In The Money Net Risk Management Contracts			15.00%		13.00%
Counterparty Three [Member]
Derivative [Line Items]
Percent Of The Fair Value Of Outstanding In The Money Net Risk Management Contracts			12.00%		12.00%
Counterparty Four [Member]
Derivative [Line Items]
Percent Of The Fair Value Of Outstanding In The Money Net Risk Management Contracts			12.00%		12.00%
Counterparty Five [Member]
Derivative [Line Items]
Percent Of The Fair Value Of Outstanding In The Money Net Risk Management Contracts					11.00%
Counterparty Six [Member]
Derivative [Line Items]
Percent Of The Fair Value Of Outstanding In The Money Net Risk Management Contracts					11.00%
Revenue [Member]
Derivative [Line Items]
Realized Gains (Loss) on Derivatives	89,000,000	122,000,000	$ 605,000,000	301,000,000
Unrealized Gain (Losses) on Derivatives	(243,000,000)	(41,000,000)	(18,000,000)	(385,000,000)
Currency Swaps, Maturing Remainder Of Fiscal Year [Member]
Derivative [Line Items]
Foreign currency swap, contract amount outstanding	$ 215,000,000		$ 215,000,000
Derivative, average forward exchange rate | $ / $	0.7451		0.7451
Currency Swaps, Maturing In Two Years [Member]
Derivative [Line Items]
Foreign currency swap, contract amount outstanding	$ 350,000,000		$ 350,000,000
Derivative, average forward exchange rate | $ / $	0.7289		0.7289
Other Derivative Contracts [Member] | Revenue [Member]
Derivative [Line Items]
Realized Gains (Loss) on Derivatives		$ 2,000,000	$ 2,000,000	5,000,000
Unrealized Gain (Losses) on Derivatives			$ (4,000,000)	$ (1,000,000)

Financial Instruments and Ris_4

Financial Instruments and Risk Management (Risk Management Positions) (Details) $ in Millions	9 Months Ended
	Sep. 30, 2020USD ($)$ / bbl$ / McfMMcfMBbls
Derivative [Line Items]
Net Premiums Received on Unexpired Options	$ (2)
Other Derivative Contracts, Net	(11)
Foreign Currency Swaps, at Fair value, Net	12
Total Fair Value Position and Net Premiums Received	$ (52)
Oil [Member] | WTI Fixed Price Contracts Maturing 2020 [Member]
Derivative [Line Items]
Derivative, Nonmonetary Notional Amount, Volumes/day | MBbls	89
Term	Dec. 31, 2020
Average Price, Fixed Price Contracts | $ / bbl	52.95
Price Risk Derivatives, at Fair Value, Net	$ 101
Oil [Member] | WTI Fixed Price Contracts Maturing 2021 [Member]
Derivative [Line Items]
Derivative, Nonmonetary Notional Amount, Volumes/day | MBbls	20
Term	Dec. 31, 2021
Average Price, Fixed Price Contracts | $ / bbl	44.08
Price Risk Derivatives, at Fair Value, Net	$ 12
Oil [Member] | WTI Three-Way Options Maturing 2020 [Member]
Derivative [Line Items]
Derivative, Nonmonetary Notional Amount, Volumes/day | MBbls	76
Term	Dec. 31, 2020
Price Risk Derivatives, at Fair Value, Net	$ 62
Oil [Member] | WTI Three-Way Options Maturing 2020 [Member] | Sold [Member] | Put Option [Member]
Derivative [Line Items]
Average Price, Options/Collars | $ / bbl	43.36
Oil [Member] | WTI Three-Way Options Maturing 2020 [Member] | Sold [Member] | Call Option [Member]
Derivative [Line Items]
Average Price, Options/Collars | $ / bbl	61.46
Oil [Member] | WTI Three-Way Options Maturing 2020 [Member] | Bought [Member] | Put Option [Member]
Derivative [Line Items]
Average Price, Options/Collars | $ / bbl	53.36
Oil [Member] | WTI Fixed Price Swaptions Maturing 2021 [Member]
Derivative [Line Items]
Derivative, Nonmonetary Notional Amount, Volumes/day | MBbls	10
Term	Dec. 31, 2021
Average Price, Fixed Price Contracts | $ / bbl	58
Price Risk Derivatives, at Fair Value, Net	$ 0
Oil [Member] | WTI Three-Way Options Maturing 2021 [Member]
Derivative [Line Items]
Derivative, Nonmonetary Notional Amount, Volumes/day | MBbls	37
Term	Dec. 31, 2021
Price Risk Derivatives, at Fair Value, Net	$ 8
Oil [Member] | WTI Three-Way Options Maturing 2021 [Member] | Sold [Member] | Put Option [Member]
Derivative [Line Items]
Average Price, Options/Collars | $ / bbl	29.39
Oil [Member] | WTI Three-Way Options Maturing 2021 [Member] | Sold [Member] | Call Option [Member]
Derivative [Line Items]
Average Price, Options/Collars | $ / bbl	50.27
Oil [Member] | WTI Three-Way Options Maturing 2021 [Member] | Bought [Member] | Put Option [Member]
Derivative [Line Items]
Average Price, Options/Collars | $ / bbl	39.61
Oil [Member] | West Texas Intermediate Costless Collars Maturing 2020 [Member]
Derivative [Line Items]
Derivative, Nonmonetary Notional Amount, Volumes/day | MBbls	15
Term	Dec. 31, 2020
Price Risk Derivatives, at Fair Value, Net	$ 14
Oil [Member] | West Texas Intermediate Costless Collars Maturing 2020 [Member] | Sold [Member] | Call Option [Member]
Derivative [Line Items]
Average Price, Options/Collars | $ / bbl	68.71
Oil [Member] | West Texas Intermediate Costless Collars Maturing 2020 [Member] | Bought [Member] | Put Option [Member]
Derivative [Line Items]
Average Price, Options/Collars | $ / bbl	50
Oil [Member] | West Texas Intermediate Costless Collars Maturing 2021 [Member]
Derivative [Line Items]
Derivative, Nonmonetary Notional Amount, Volumes/day | MBbls	15
Term	Dec. 31, 2021
Price Risk Derivatives, at Fair Value, Net	$ (5)
Oil [Member] | West Texas Intermediate Costless Collars Maturing 2021 [Member] | Sold [Member] | Call Option [Member]
Derivative [Line Items]
Average Price, Options/Collars | $ / bbl	45.84
Oil [Member] | West Texas Intermediate Costless Collars Maturing 2021 [Member] | Bought [Member] | Put Option [Member]
Derivative [Line Items]
Average Price, Options/Collars | $ / bbl	35
Natural Gas Liquids [Member] | Propane Fixed Price Contracts Maturing 2020 [Member]
Derivative [Line Items]
Derivative, Nonmonetary Notional Amount, Volumes/day | MBbls	20
Term	Dec. 31, 2020
Average Price, Fixed Price Contracts | $ / bbl	17.94
Price Risk Derivatives, at Fair Value, Net	$ (6)
Natural Gas Liquids [Member] | Iso-Butane Fixed Price Contracts Maturing 2020 [Member]
Derivative [Line Items]
Derivative, Nonmonetary Notional Amount, Volumes/day | MBbls	3.3
Term	Dec. 31, 2020
Average Price, Fixed Price Contracts | $ / bbl	24.36
Price Risk Derivatives, at Fair Value, Net	$ (1)
Natural Gas Liquids [Member] | Butane Fixed Price Contracts Maturing 2020 [Member]
Derivative [Line Items]
Derivative, Nonmonetary Notional Amount, Volumes/day | MBbls	8
Term	Dec. 31, 2020
Average Price, Fixed Price Contracts | $ / bbl	23.54
Price Risk Derivatives, at Fair Value, Net	$ (1)
Natural Gas Liquids [Member] | Ethane Fixed Price Contracts Maturing 2020 [Member]
Derivative [Line Items]
Derivative, Nonmonetary Notional Amount, Volumes/day | MBbls	1
Term	Dec. 31, 2020
Average Price, Fixed Price Contracts | $ / bbl	5.25
Price Risk Derivatives, at Fair Value, Net	$ 0
Natural Gas [Member] | Fair Value Position Excluding Unexpired Options [Member]
Derivative [Line Items]
Price Risk Derivatives, at Fair Value, Net	$ (211)
Natural Gas [Member] | NYMEX Costless Collars Maturing 2020 [Member]
Derivative [Line Items]
Derivative, Nonmonetary Notional Amount, Volumes/day | MMcf	55
Term	Dec. 31, 2020
Price Risk Derivatives, at Fair Value, Net	$ 0
Natural Gas [Member] | NYMEX Costless Collars Maturing 2020 [Member] | Sold [Member] | Call Option [Member]
Derivative [Line Items]
Average Price, Options/Collars | $ / Mcf	2.88
Natural Gas [Member] | NYMEX Costless Collars Maturing 2020 [Member] | Bought [Member] | Put Option [Member]
Derivative [Line Items]
Average Price, Options/Collars | $ / Mcf	2.50
Natural Gas [Member] | Basis Contracts Maturing 2020 [Member]
Derivative [Line Items]
Term	Dec. 31, 2020
Price Risk Derivatives, at Fair Value, Net	$ (13)
Natural Gas [Member] | NYMEX Fixed Price Contracts Maturing 2020 [Member]
Derivative [Line Items]
Derivative, Nonmonetary Notional Amount, Volumes/day | MMcf	793
Term	Dec. 31, 2020
Average Price, Fixed Price Contracts | $ / Mcf	2.65
Price Risk Derivatives, at Fair Value, Net	$ 6
Natural Gas [Member] | Basis Contracts Maturing 2021 [Member]
Derivative [Line Items]
Term	Dec. 31, 2021
Price Risk Derivatives, at Fair Value, Net	$ (33)
Natural Gas [Member] | NYMEX Fixed Price Contracts Maturing 2021 [Member]
Derivative [Line Items]
Derivative, Nonmonetary Notional Amount, Volumes/day | MMcf	165
Term	Dec. 31, 2021
Average Price, Fixed Price Contracts | $ / Mcf	2.51
Price Risk Derivatives, at Fair Value, Net	$ (24)
Natural Gas [Member] | NYMEX Fixed Price Swaptions Maturing 2022 [Member]
Derivative [Line Items]
Derivative, Nonmonetary Notional Amount, Volumes/day | MMcf	165
Term	Dec. 31, 2022
Average Price, Fixed Price Contracts | $ / Mcf	2.51
Price Risk Derivatives, at Fair Value, Net	$ (20)
Natural Gas [Member] | Basis Contracts Maturing 2022 to 2025 [Member]
Derivative [Line Items]
Price Risk Derivatives, at Fair Value, Net	$ (56)
Natural Gas [Member] | NYMEX Three-Way Options Maturing 2020 [Member]
Derivative [Line Items]
Derivative, Nonmonetary Notional Amount, Volumes/day | MMcf	330
Term	Dec. 31, 2020
Price Risk Derivatives, at Fair Value, Net	$ (1)
Natural Gas [Member] | NYMEX Three-Way Options Maturing 2020 [Member] | Sold [Member] | Put Option [Member]
Derivative [Line Items]
Average Price, Options/Collars | $ / Mcf	2.25
Natural Gas [Member] | NYMEX Three-Way Options Maturing 2020 [Member] | Sold [Member] | Call Option [Member]
Derivative [Line Items]
Average Price, Options/Collars | $ / Mcf	2.72
Natural Gas [Member] | NYMEX Three-Way Options Maturing 2020 [Member] | Bought [Member] | Put Option [Member]
Derivative [Line Items]
Average Price, Options/Collars | $ / Mcf	2.60
Natural Gas [Member] | NYMEX Call Options Maturing 2020 [Member] | Sold [Member]
Derivative [Line Items]
Derivative, Nonmonetary Notional Amount, Volumes/day | MMcf	230
Term	Dec. 31, 2020
Price Risk Derivatives, at Fair Value, Net	$ 0
Average Price, Options/Collars | $ / Mcf	3.25
Natural Gas [Member] | NYMEX Three-Way Options Maturing 2021 [Member]
Derivative [Line Items]
Derivative, Nonmonetary Notional Amount, Volumes/day | MBbls	730
Term	Dec. 31, 2021
Price Risk Derivatives, at Fair Value, Net	$ (17)
Natural Gas [Member] | NYMEX Three-Way Options Maturing 2021 [Member] | Sold [Member] | Put Option [Member]
Derivative [Line Items]
Average Price, Options/Collars | $ / Mcf	2.49
Natural Gas [Member] | NYMEX Three-Way Options Maturing 2021 [Member] | Sold [Member] | Call Option [Member]
Derivative [Line Items]
Average Price, Options/Collars | $ / Mcf	3.35
Natural Gas [Member] | NYMEX Three-Way Options Maturing 2021 [Member] | Bought [Member] | Put Option [Member]
Derivative [Line Items]
Average Price, Options/Collars | $ / Mcf	2.87
Natural Gas [Member] | NYMEX Call Options Maturing 2022 [Member] | Sold [Member]
Derivative [Line Items]
Derivative, Nonmonetary Notional Amount, Volumes/day | MBbls	330
Term	Dec. 31, 2022
Price Risk Derivatives, at Fair Value, Net	$ (54)
Average Price, Options/Collars | $ / Mcf	2.38
Natural Gas [Member] | Other Financial Positions [Member]
Derivative [Line Items]
Price Risk Derivatives, at Fair Value, Net	$ 1
Oil and NGLs [Member]
Derivative [Line Items]
Price Risk Derivatives, at Fair Value, Net	$ 160
Oil and NGLs [Member] | Basis Contracts Maturing 2020 [Member]
Derivative [Line Items]
Term	Dec. 31, 2020
Price Risk Derivatives, at Fair Value, Net	$ (20)
Oil and NGLs [Member] | Other Crude Financial Positions [Member]
Derivative [Line Items]
Price Risk Derivatives, at Fair Value, Net	$ (3)
Oil and NGLs [Member] | Basis Contracts Maturing 2021 [Member]
Derivative [Line Items]
Term	Dec. 31, 2021
Price Risk Derivatives, at Fair Value, Net	$ (1)
Minimum [Member] | Foreign Currency Contracts Maturing 2020 - 2021 [Member]
Derivative [Line Items]
Term	Dec. 31, 2020
Minimum [Member] | Natural Gas [Member] | Basis Contracts Maturing 2022 to 2025 [Member]
Derivative [Line Items]
Term	Jan. 1, 2022
Maximum [Member] | Foreign Currency Contracts Maturing 2020 - 2021 [Member]
Derivative [Line Items]
Term	Dec. 31, 2021
Maximum [Member] | Natural Gas [Member] | Basis Contracts Maturing 2022 to 2025 [Member]
Derivative [Line Items]
Term	Dec. 31, 2025

Financial Instruments and Ris_5

Financial Instruments and Risk Management (Earnings Impact of Realized and Unrealized Gains (Losses) On Risk Management Positions) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Derivative Instruments, Gain (Loss) [Line Items]
Realized Gain (Loss) on Derivatives	$ 91	$ 124	$ 598	$ 302
Unrealized Gain (Loss) on Derivatives	(228)	(52)	(19)	(359)
Realized and Unrealized Gain (Loss) on Risk Management	(137)	72	579	(57)
Revenue [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Realized Gain (Loss) on Derivatives	89	122	605	301
Unrealized Gain (Loss) on Derivatives	(243)	(41)	(18)	(385)
Realized and Unrealized Gain (Loss) on Risk Management	(154)	81	587	(84)
Foreign Currency Gain (Loss) [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Realized Gain (Loss) on Derivatives	2	2	(7)	1
Unrealized Gain (Loss) on Derivatives	15	(11)	(1)	26
Realized and Unrealized Gain (Loss) on Risk Management	$ 17	$ (9)	$ (8)	$ 27

Financial Instruments and Ris_6

Financial Instruments and Risk Management (Reconciliation of Unrealized Risk Management Positions) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Derivative [Line Items]
Fair Value of Contracts, Beginning of Year			$ (41)
Settlement of Other Derivative Contracts			2
Amortization of Option Premiums During the Period			6
Fair Value of Contracts Realized During the Period	$ (91)	$ (124)	(598)	$ (302)
Fair Value of Contracts and Net Premiums Received, End of Period	(52)		(52)
Unrealized Gain (Loss) on Derivatives	$ (228)	$ (52)	(19)	(359)
Commodity Contract [Member]
Derivative [Line Items]
Increase (Decrease) in Derivative Assets and Liabilities			$ 579	$ (57)

Financial Instruments and Ris_7

Financial Instruments and Risk Management (Unrealized Risk Management Positions) (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Derivatives, Fair Value [Line Items]
Risk Management, Current asset	$ 170	$ 148
Risk Management, Long-term asset	8	2
Risk Management, Total asset	178	150
Risk Management, Current liability	65	114
Risk Management, Long-term liability	154	68
Risk Management, Total liability	219	182
Guarantor Obligations, Current Carrying Value	11	9
Risk Management and Other Derivative Guarantee, at Fair Value, Net	(52)	(41)
Accounts Payable and Accrued Liabilities [Member]
Derivatives, Fair Value [Line Items]
Guarantor Obligations, Current Carrying Value	2	2
Other Liabilities and Provisions [Member]
Derivatives, Fair Value [Line Items]
Guarantor Obligations, Current Carrying Value	$ 9	$ 7

Supplementary Information (Net

Supplementary Information (Net Change in Non-Cash Working Capital) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Supplemental Cash Flow Elements [Abstract]
Accounts receivable and accrued revenues	$ 78	$ 61	$ 289	$ 178
Accounts payable and accrued liabilities	42	(82)	(212)	(66)
Current portion of operating lease liabilities	(4)	(9)	(10)	52
Income tax receivable and payable	26	(2)	39	(34)
Net change in non-cash working capital	$ 142	$ (32)	$ 106	$ 130

Supplementary Information (Non-

Supplementary Information (Non-Cash Activity) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Cash Flow, Noncash Investing and Financing Activities Disclosure [Abstract]
Asset retirement obligation incurred	$ 2	$ 2	$ 11	$ 13	$ 15
Asset retirement obligation change in estimated future cash outflows	(10)	0	12	0	$ 47
Property, plant and equipment accruals	68	(80)	(62)	(33)
Capitalized long-term incentives	2	1	(7)	(31)
Property additions/dispositions	212	63	229	66
New ROU operating lease assets and liabilities	(5)	(1)	(6)	(11)
Newfield Exploration Company [Member]
Cash Flow, Noncash Investing and Financing Activities Disclosure [Abstract]
Common shares issued in conjunction with the Newfield business combination (See Note 8)	$ 0	$ 0	$ 0	$ (3,478)

Supplementary Information - Add

Supplementary Information - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Noncash Or Part Noncash Acquisitions [Line Items]
Property additions/dispositions	$ 212	$ 63	$ 229	$ 66
Duvernay shale [Member]
Noncash Or Part Noncash Acquisitions [Line Items]
Property additions/dispositions	$ 203		$ 203

Commitments and Contingencies_2

Commitments and Contingencies (Details) $ in Millions	Sep. 30, 2020USD ($)
Commitments [Line Items]
2020	$ 213
2021	701
2022	656
2023	548
2024	439
Thereafter	2,314
Total	4,871
Transportation and Processing Commitments [Member]
Commitments [Line Items]
2020	173
2021	675
2022	644
2023	541
2024	433
Thereafter	2,305
Total	4,771
Drilling and Field Services Commitments [Member]
Commitments [Line Items]
2020	37
2021	12
2022	1
2023	0
2024	0
Thereafter	1
Total	51
Building Leases [Member]
Commitments [Line Items]
2020	3
2021	14
2022	11
2023	7
2024	6
Thereafter	8
Total	$ 49