Chevron Canada Ltd. will boost its exploratory lease position in the Duvernay shale formation in Alberto to more than 250,000 acres by acquiring 67,900 net acres from Alta Energy Luxembourg SARL and affiliates for an undisclosed sum.
Chevron Canada in the second half of 2011 launched a multiwell exploratory program for unconventional resources in the Duvernay wet gas play. Initial production was achieved in 2012 on these 100%-owned and operated leases.
Jeff Lehrmann, Chevron Canada president, said, “To date, we have been encouraged by the reservoir data and production performance from our exploration drilling program on our Kaybob Duvernay leases. We are pleased to add to our acreage in this play as we advance our program to evaluate the potential for full-field commercial development.”