Varcoe: Chevron exits Alberta after $8.8B deal with Canadian Natural Resources
The Calgary-based company agreed to an all-cash transaction to acquire Chevron’s 20 per cent stake in the Athabasca Oil Sands Project (AOSP), a development already operated and majority owned by Canadian Natural Resources. It also picks up Chevron’s properties in the Duvernay formation in Alberta, with plans to quickly boost production.