The new Duvernay Energy is a privately held subsidiary of Athabasca that consolidates the two companies' assets in the prolific Kaybob Duvernay resource play in northwest
Athabasca owns a 70 per cent equity interest in Duvernay Energy with Cenovus owning the remaining 30 per cent equity interest.
The company says it has the potential to grow Duvernay Energy's production to 25,000 barrels of oil equivalent per day by the end of the decade.
Athabasca will manage Duvernay Energy through a management and operating services agreement.
This report by The Canadian Press was first published
Companies in this story: (TSX:CVE; TSX:ATH)
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