Chevron: major asset sale in Alberta

(CercleFinance.com) - Chevron reports that its indirect subsidiary Chevron Canada Ltd has reached an agreement to sell some of its assets in the Canadian province of Alberta to Canadian Natural Resources Ltd, for US$6.
5bn.

The assets concerned, a 20% non-operated interest in the Athabasca Oil Sands project, a 70% operated interest in the Duvernay formation and associated interests, represented 84,000 boe/d of production (net of royalties) for Chevron in 2023.

The all-cash transaction is expected to close in Q4 2024, subject to regulatory approvals and other customary conditions.


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