‘The Duvernay formation is one of the most prospective liquids-rich shale plays in North American,’ Chevron Canada President Jeff Gustavson. Following a three-year appraisal program, Chevron Canada Limited has decided to develop a portion of its leaseholdings in the Kaybob Duvernay area of west-central Alberta, the company reported Monday. “The Duvernay formation is one of the most prospective liquids-rich shale plays in North American,” Chevron Canada President Jeff Gustavson said in a company announcement. “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.” Chevron stated that it has a net 70 percent operated interest in approximately 330,000 acres in the Duvernay formation near Fox Creek, which is located roughly 260 kilometers northwest of Edmonton. According to the company, the initial development program will likely comprise approximately 55,000 acres of its company-operated position in […]