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Chevron Sells 30% Stake to KFPEC

Chevron Sells 30% Stake  to KFPECChevron Sells 30% Stake  to KFPEC

Chevron's Canadian subsidiary is selling its 30% stake in its Duvernay shale play to Kuwait Foreign Petroleum Exploration Co. (KFPEC) in a $1.5b deal. The Duvernay shale play is in west-central Alberta, Canada. Once the deal closes, Chevron Canada Ltd. will still have a 70% stake in Duvernay and will continue as its operator. The deal is targeted to close in November, Reuters reported.

 

Financialtribune.com