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Chevron Seeking $1.5 Billion to Develop Duvernay
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Chevron Corporation is seeking $1.5 Billion in funding for development of its Duvernay Property in Canada, according to a report from Reuters.
Chevron Canada Limited has ~330,000 net acres in the Duvernay. The company is looking for long-term oriented investors. Chevron has drilled 15 wells in its Duvernay property as of August 2014.
Chevron has entered an agreement to purchase Duvernay acreage from Alta Energy Luxembourg.
Chevron joins Penn West, Shell and Athabasca Oil corporation in the Duvernay.
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