“Duvernay formation one of most prospective liquids-rich shale plays in North America”
Chevron Canada Limited announced it’s moving into development on a portion of its leaseholdings in the Kaybob Duvernay area of west-central Alberta, according to a press release.
The decision follows a successful three-year appraisal program by Chevron.
It’s anticipated the initial development program will comprise approximately 55,000 acres of Chevron’s operated position in the Duvernay resource in the area known as East Kaybob.
The program will utilize long-term infrastructure development and service agreements with Pembina Pipeline Corporation and Keyera Corporation, with service expected to be available during the second half of 2019.
“The Duvernay formation is one of the most prospective liquids-rich shale plays in North America. Chevron Canada looks forward to realizing the value of this resource from our industry-leading position while delivering economic benefits to local communities, Alberta and Canada,” said Jeff Gustavson, president, Chevron Canada Limited.
“Chevron is committed to collaborating with aboriginal peoples and local communities to build long-term, trusting and mutually beneficial relationships related to the Kaybob Duvernay development,” added Gustavson.
Chevron has a net 70 per cent operated interest in approximately 330,000 acres in the Duvernay formation near Fox Creek, approximately 260 km northwest of Edmonton.