Chevron announced this morning that it will put its Duvernay assets up for sale as it streamlines its global portfolio of assets. While it won’t be possible to know exactly all of the assets that are available, we can do a quick dive into the public data to see a brief overview of the assets. The map below shows Chevron’s Crown mineral rights in yellow (all – not necessarily just Duvernay), along with the Duvernay wells licensed to Chevron in black.
Source: Petro Ninja
We have used the list of wells that is publicly available (which may not represent everything), to get the production graph which is embedded below. Keep in mind this would be gross licensed production, and while some condensate volumes do show, usually condensate is not reported at the well level in Alberta (our way of saying the actual liquids volumes are much higher than shown by the public data). The aggregate amount of production from this list as of November works out to be pretty close to the ~40,000 BOE/d number that is cited in the Reuters article, although this is a gross production figure that we show below. The net production figure would depend on any working interest sharing agreements. Note that at last check, KUFPEC Canada Inc. held a 30% non-operated interest in Chevron Canada’s Duvernay leaseholdings.
Hover over the chart to see month by month detail.