Chevron Corporation (CVX)
Chevron to Sell Key Assets Worth $6.5 Billion to Canadian Natural
CVX's subsidiary plans to sell the company's non-operated interests in Alberta oil assets to Canadian Natural, advancing its strategic divestment goals.
Chevron's $6.5 Billion Deal Will Further Fortify Its Financial Foundation
Chevron is cashing in on its Canadian assets.
Canadian Natural Resources Expands Alberta Footprint with Chevron Asset Buy, Boosts Dividend 7%
Canadian Natural Resources Limited (CNQ, Financial) has announced its agreement to acquire Chevron Canada's 20% stake in the Athabasca Oil Sands Project situated in Alberta, raising its ownership to 90%. This acquisition based on Oil sand mines and a carbon capture facility, will add 62,500 barrels per day of Synthetic Crude Oil to CNQ's production.
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Chevron Sells Canadian Shale Assets to Canadian Natural Resources for $6.5 Billion
Chevron (CVX, Financial) is selling its stakes in two Canadian shale assets to Canadian Natural Resources (CNQ, Financial) for $6.5 billion in cash. The deal includes a 20% interest in the Athabasca Oil Sands project and a 70% interest in the Duvernay Shale, which together produced 84,000 barrels of oil equivalent per day in 2023.
Canadian Natural Resources acquires Chevron's Alberta assets for $6.5B
Canadian Natural Resources Limited (TSX:CNQ) is acquiring a 20% interest in the Athabasca Oil Sands Project (AOSP) in Alberta, Canada from Chevron Corporation (NYSE:CVX, ETR:CHV)'s indirect subsidiary Chevron Canada bringing its stake in the project to 90%. Canadian Natural is also acquiring Chevron's 70% operated working interest in Duvernay shale, also located in Alberta.
Chevron (CVX) Sells Canadian Oil Sands and Shale Assets for $6.5 Billion
Chevron (CVX, Financial) has agreed to sell its stakes in Canadian oil sands and shale assets to Canadian Natural Resources (CNQ) for $6.5 billion. This transaction includes a 20% interest in the Athabasca oil sands project and a 70% share in the Duvernay shale project in Alberta.
Chevron to Sell Oil Sands to Canadian Natural Resources in $6.5 Billion Deal
The company is expected to divest $10 billion to $15 billion of assets by 2028.
Oil Stocks Rise: Chevron, ExxonMobil, and Others Show Gains
Shares of major oil companies experienced notable increases. Chevron (CVX) and ExxonMobil (XOM, Financial) both saw their stock prices rise by 1.2%.
Chevron Canada to sell assets to Canadian Natural Resources for $6.5 billion in cash
The deal is expected to close in the fourth quarter.
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Chevron to sell interests in Athabasca Oil Sands and Duvernay shale to Canadian Natural Resources for $6.5 billion
Chevron said on Monday that it would sell its non-operated interest in the Athabasca Oil Sands Project and its operated interest in Duvernay shale, all located in Alberta, Canada, to Canadian Natural Resources for $6.5 billion.
