08/01/2013 07:52 EDT | Updated 10/01/2013 05:12 EDT

Chevron Canada buys Duvernay shale formation for undisclosed amount

CALGARY - Chevron Canada Ltd. said Thursday it has acquired the Duvernay shale formation in west-central Alberta from Alta Energy Luxembourg for an undisclosed sum.

The energy corporation, which is an indirect subsidiary of Chevron Corp., said the acquired interests cover 67,900 acres.

"This agreement further strengthens our land position in the core part of this prospective wet shale gas play, where we have exploration leases totalling more than 250,000 acres," said Jeff Lehrmann, Chevron Canada president in a statement.

Chevron Canada is involved in the exploration, development and production of crude oil, natural gas and natural gas liquids in Canada.