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Seneca South Midway is a subsidiary of Seneca Resources Corporation, a Canada-based explorer and developer of natural gas and oil reserves.
The sale includes all of Ivanhoe Energy's oil and gas exploration and production operations and certain exploration acreage in the US.
Tristone Capital, Inc. acted as financial advisor to Ivanhoe Energy.
Deal Value (US$ Million) 40 Deal Type Acquisition Sub-Category Asset Purchase Deal Status Completed: 2009-07-20
Deal Participants
Target (Company) Ivanhoe Energy, Inc. - Oil and Gas Operations - US Acquirer (Company) Seneca South Midway LLC Vendor (Company) Ivanhoe Energy, Inc.
Deal Rationale
Ivanhoe Energy plans to use the proceeds to advance its initial stages of the Tamarack and Pungarayacu projects, repay its debt, and for general corporate purposes.
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