Chevron approaches PE firms to invest in Canadian oil project: Reuters

Chevron Corp has been searching for up to US$1.5 billion of equity investment to help develop its Duvernay shale formation assets in Canada and contacted potential investors, including private equity firms, sources told Reuters. Chevron commenced an exploration program in the Duvernay in 2011 and, as of August 2014, had drilled 15 wells, completed 13 using multi-stage hydraulic fracturing, and tied in 10 wells to existing third-party processing facilities. The area is located northwest of Edmonton.

DealsCanadaNorth AmericaBriefs