One-Page Deal Sheet
Ivanhoe Energy Sells Operations for US$40 Million
Seneca Resources Ivanhoe Energy, Inc.
Announced Date
July 20,2009
Close Date
July 20,2009
Transaction Type
Property
Enterprise Value (EV)($MM)
40
Asset/Basin:
{"San Joaquin Basin","Sacramento Basin","Permian Basin"}
Location
Country
United States
Transaction Details: Subscribe to see
Robert Friedland, Executive Chairman, President and Chief Executive
Officer of Ivanhoe Energy Inc. (TSX: IE; NASDAQ: IVAN), announced today that Ivanhoe Energy has
sold its US oil and gas operations to Seneca South Midway LLC, a subsidiary of Seneca Resources
Corporation, for total proceeds of approximately US$40 million. Seneca Resources Corporation is the
Exploration and Production segment of National Fuel Gas Company (NYSE: NFG). This sale is
consistent with Ivanhoe Energy’s goal of focusing its financial and human resources on its HTL
(Heavy-to-Light) heavy-oil projects, including the…
Officer of Ivanhoe Energy Inc. (TSX: IE; NASDAQ: IVAN), announced today that Ivanhoe Energy has
sold its US oil and gas operations to Seneca South Midway LLC, a subsidiary of Seneca Resources
Corporation, for total proceeds of approximately US$40 million. Seneca Resources Corporation is the
Exploration and Production segment of National Fuel Gas Company (NYSE: NFG). This sale is
consistent with Ivanhoe Energy’s goal of focusing its financial and human resources on its HTL
(Heavy-to-Light) heavy-oil projects, including the…
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