Ovintiv (OVV) said late Monday it secured regulatory approvals from the Toronto Stock Exchange to renew its normal course issuer bid to buy back almost 22.3 million common shares over the 12-month period starting Oct. 3.

The company also renewed its automatic share purchase plan to buy shares under the issuer bid when it would not be allowed to purchase shares due to regulatory limits and blackout periods, according to the company.

Ovintiv repurchased over 7.8 million common shares at an average price of $38.8 apiece out of the 25.9 million under its existing issuer bid, the company said.