National Fuel Buys Ivanhoe Energy's Oil, Gas Exploriation Operations

National Fuel Gas has acquired Ivanhoe Energy's oil and gas exploration and production operations in the United States for $40 million.

As of last month, those operations produced about 645 barrels per day of oil in California and Texas. The deal also includes some exploration acreage in California.

National Fuel's exploration and production segment, Seneca Resources Corporation, made the purchase through its subsidiary, Seneca South Midway LLC.

Ivanhoe Energy is based in Vancouver, British Columbia.

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