Chevron said Chevron Canada Limited and a related entity entered into an agreement on October 7, 2024 to sell assets in Alberta, Canada, to Canadian Natural Resources Limited for US$6.5 billion.

8-KOther EventsFiled Oct 7, 2024Period of report Oct 4, 2024Summary published (UTC) Oct 25, 2026

Key points

AI summary

Chevron said Chevron Canada Limited and a related entity entered into an agreement on October 7, 2024 to sell assets in Alberta, Canada, to Canadian Natural Resources Limited for US$6.5 billion.
The company said the assets for sale are Chevron's 20% non-operated interest in the Athabasca Oil Sands Project, its 70% operated interest in the Duvernay shale, and related interests. All of the assets are located in Alberta, Canada.
Chevron said the all-cash transaction, valued at US$6.5 billion, has an effective date of September 1, 2024 and is expected to close in Q4 2024. Closing is subject to regulatory approvals and customary closing conditions.
The company said the assets sold in the deal contributed 84 thousand boe/d of production, net of royalties, to Chevron in 2023. It said the transaction is part of its existing plan to divest $10 to 15 billion in assets by 2028.

Summary

AI-written

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

Chevron Agrees to Sell US$6.5 billion Alberta Assets

Chevron said Chevron Canada Limited and a related entity entered into an agreement on October 7, 2024 to sell assets in Alberta, Canada, to Canadian Natural Resources Limited for US$6.5 billion.

Source · Based on the filing body and exhibits

Assets for Sale: Athabasca Oil Sands Project and Duvernay Shale Interests

The company said the assets for sale are Chevron's 20% non-operated interest in the Athabasca Oil Sands Project, its 70% operated interest in the Duvernay shale, and related interests. All of the assets are located in Alberta, Canada.

Source · Based on the filing body and exhibits

All-Cash Deal, Effective Date September 1, 2024, Expected Close in Q4

Chevron said the all-cash transaction, valued at US$6.5 billion, has an effective date of September 1, 2024 and is expected to close in Q4 2024. Closing is subject to regulatory approvals and customary closing conditions.

Source · Based on the filing body and exhibits

2023 Production and Asset Sale Plan

The company said the assets sold in the deal contributed 84 thousand boe/d of production, net of royalties, to Chevron in 2023. It said the transaction is part of its existing plan to divest $10 to 15 billion in assets by 2028.

Source · Based on the filing body and exhibits

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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