Chevron Canada Limited, a subsidiary of Chevron Corporation (Chevron), has agreed to acquire 261,000 net acres of undeveloped land in shale gas fields in the Horn River and Liard Basins in British Columbia, from Apache Canada Ltd. (Apache), for a purchase consideration of US$550MM. Through the transaction, Chevron Canada will acquire 49,000 net acres in the Horn River Basin and 212,000 net acres in the Liard Basin. The transaction is a part of Chevron Canada's acquisition of a 50% interest in approximately 644,000 acres of petroleum and natural gas rights in the Horn River and Liard Basins in British Columbia, Canada, from Apache Canada Ltd., Encana Corporation (Encana), and EOG Resources Canada, Inc. (EOG Resources). RBC Capital Markets, LLC is acting as financial advisor to Apache Canada in the transaction. The transaction will enable Chevron Canada to expand its undeveloped acreage position in British Columbia.