Chevron acquires Athabasca heavy oil leases

Chevron Corp. has acquired five heavy oil leases with potential for in situ development in Alberta's Athabasca region.

March 3, 2006

By OGJ editors
HOUSTON, Feb. 3 -- Chevron Corp. has acquired five heavy oil leases with potential for in situ development in Alberta's Athabasca region.

The leases, covering about 75,000 acres, are 24 miles southwest of the Athabasca Oil Sands Project (AOSP). Chevron Canada Ltd. holds a 20% interest in AOSP, which includes the Muskeg River Mine and Scotford Upgrader. Shell Canada Ltd., operator, and Western oil Sands LP hold the other AOSP interests.

Chevron said development of 7.5 billion bbl of oil in place under the new leases might involve steam-assisted gravity drainage.