Chevron Canada Buys Duvernay Shale Interests of PE-Backed Alta Energy
Vancouver-based Chevron Canada Ltd., subsidiary of U.S. oil and gas company Chevron Corp., recently agreed to purchase all interests from Alta Energy Luxembourg and affiliates in the Duvernay shale formation in west-central Alberta. While the acquisition price was not disclosed, one estimate places it at close to US$1 billion. Houston, Texas-based Alta Energy Partners has been backed by U.S. private equity firm Blackstone Group since 2011. Torys LLP represented Alta and Blackstone in the August 2013 transaction.
11 August 2013•3 mins read
