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NorthAmOil: Chevron to market Duvernay shale gas assets

Chevron Canada says it will market its entire 70% operational interest in the Duvernay shale and tight play in Alberta. Chevron is streamlining its business.

Chevron Canada, a subsidiary of the US supermajor, said it will continue to work closely in the Duvernay with joint venture partner KUFPEC Canada, a subsidiary of Kuwait Foreign Petroleum Exploration Co. and holder of a net 30% non-operating interest.

It will also work closely with other business partners, the provincial and federal governments, First Nations, and community organisations during the marketing and transaction.

The assets produce around 40,000 barrels of oil equivalent per day (boepd) from about 951 square km in west-central Alberta. In a sale, they could get up to $900mn, said the Houston-based advisory firm Energy Advisors Group.