press release chevron Canada limited announces US$6.5 billion sale of its interests in the athabasca oil sands project and duvernay shale

CALGARY, Alberta, October 7, 2024 — Chevron Canada Limited (“CCL”) announced today 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.

about chevron Canada

For over 85 years, Chevron Canada has been responsibly developing Canada’s energy resources. Throughout our history, we have changed as the world’s energy needs have evolved. We believe everyone has a stake in the energy system of tomorrow. That belief drives our environmental and performance ambitions in traditional oil and gas operations, as well as in exploring emerging businesses in renewable fuels, carbon capture and other emerging technologies. Chevron Canada takes great pride in providing the energy needed to improve lives and power the world forward. More information about Chevron Canada is available at canada.chevron.com.

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Jennifer Werbicki
CanadaMediaRelations@chevron.com