Chevron Corporation, through its indirect subsidiary Chevron Canada Limited, has entered into a definitive agreement to sell its 20 percent non-operated interest in the Athabasca Oil Sands Project and 70 percent operated interest in the Duvernay shale, along with related interests in Alberta, Canada, to Canadian Natural Resources Limited. The all-cash deal is valued at US$6.5 billion, with an effective date of September 1, 2024, and is expected to close in the fourth quarter of 2024, pending regulatory approvals and customary closing conditions. The assets involved in the transaction contributed 84 thousand barrels of oil equivalent per day (boe/d) to Chevron's production in 2023. This sale is part of Chevron's strategic plan to divest $10-15 billion in assets by 2028 to optimize its global energy portfolio.

Chevron Corporation, through its indirect subsidiary Chevron Canada Limited, has entered into a definitive agreement to sell its 20 percent non-operated interest in the Athabasca Oil Sands Project and 70 percent operated interest in the Duvernay shale, along with related interests in Alberta, Canada, to Canadian Natural Resources Limited. The all-cash deal is valued at US$6.5 billion, with an effective date of September 1, 2024, and is expected to close in the fourth quarter of 2024, pending regulatory approvals and customary closing conditions. The assets involved in the transaction contributed 84 thousand barrels of oil equivalent per day (boe/d) to Chevron's production in 2023. This sale is part of Chevron's strategic plan to divest $10-15 billion in assets by 2028 to optimize its global energy portfolio.