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Ovintiv employees, other producers rally against Texas production cuts [Yahoo! Finance News]

Ovintiv Inc. (DE) (OVV) 
Last ovintiv inc. (de) earnings: 2/19 08:54 pm Check Earnings Report
By Liz HamptonApril 7 ) - More than two dozen employees of Denver-based shale producer Ovintiv Inc sent form letters this week to Texas energy regulators opposing any state-mandated oil production cuts in the face of plunging energy prices.The state's Railroad Commission, which has the authority to mandate production curbs in the state, will consider next week a proposal to require larger oil producers to cut output by 20% beginning May 1.The proposal was submitted by shale producers Parsley Energy Inc and Pioneer Natural Resources Co, and backed by Commissioner Ryan Sitton, as a way to curb a free fall in crude oil prices.The state's two other commissioners took to Twitter last week to distance themselves from Sitton's advocacy, saying they had not yet made up their minds. Passage requires two of three to agree on curbs, which would be the first by the state in nearly 50 years.Ovintiv, formerly known as Encana, has core operations in Canada, Oklahoma and Texas. Some 30 employees, ran Show less Read more
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