Chevron Canada Ltd. intends to market its entire 70% working interest in the Duvernay shale and tight play in west-central Alberta.
Chevron said it will continue to work closely with joint venture partner KUFPEC Canada Inc.—a subsidiary of Kuwait Foreign Petroleum Exploration Co. and holder of a net 30% nonoperating interest—and other business partners, government, First Nations, and community organizations during the process (OGJ Online, Oct. 6, 2014).
Chevron will solicit and review expressions of interest but said there are no assurances of any sale, and that its other Canadian interests are not affected.
Chevron began an exploration program in the 330,000-acre Duvernay formation in 2011, subsequently drilling 16 horizontal wells and completing 13 wells using multi-stage hydraulic fracturing. In second-half 2014, the company began a pad drilling program for appraisal and land retention purposes (OGJ Online, Oct. 31, 2011; Mar. 13, 2014). More than 50 wells have now been tied into production infrastructure, the company said.
