The company said on Thursday its subsidiary Chevron Canada signed an agreement to acquire all Duvernay interests from Alta Energy Luxembourg and its affiliates. The acquired acreage covers about 275 square kilometres in west-central Alberta.
Chevron did not disclose the purchase price of the acquisition.
Chevron Canada has more than 1000 square kilometres of existing acreage in the Duvernay. In 2011, it started a multi-well exploration programme on these wholly-owned and operated leases, achieving initial production last year.
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