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.
