Chevron Canada Limited (“CCL”) announced that it and Chevron Canada Oil Sands Partnership (“CCOSP”) have entered into a definitive agreement to sell CCOSP’s 20 percent non-operated interest in the Athabasca Oil Sands Project, CCL’s 70 percent operated interest in the Duvernay shale, and related interests, all located in Alberta, Canada, to Canadian Natural Resources Limited.
The US$6.5 billion all-cash transaction has an effective date of September 1, 2024, and is expected to close during the fourth quarter of 2024, subject to regulatory approvals and other customary closing conditions.