Chevron has agreed to sell its interest in the Athabasca oil sands project and Duvernay shale in a $6.5 billion deal, it said Monday. The all-cash transaction, which is expected to close in the fourth quarter,

Chevron Canada Ltd has announced that it and a related entity have agreed to sell their interests in the Athabasca Oil Sands Project and the Duvernay shale to Canadian Natural Resources Ltd.

Chevron Canada Ltd, a unit of Chevron Corp., said Monday it has agreed to sell a 20% non-operated interest in the Athabasca oil sands Project, a 70% operated interest in the Duvernay shale, and related interests, all located in Alberta, Canada, to Canadian Natural Resources Ltd, in an all-cash deal valued at $6.5 billion.