IVAN Profile
Ivanhoe Energy, Inc. (IVAN) is a Canadian independent oil and gas exploration and production company, with operations mainly focused in North America and Asia. The company's main objective is to explore and develop its heavy oil projects in Canada and China, as well as its natural gas projects in the United States.
In Canada, Ivanhoe Energy is developing the Tamarack Project, which utilizes its proprietary HTL technology for the extraction and upgrading of heavy oil. The company also has operations in China, where it holds a 100% interest in the Dagang Oilfield, one of the largest oilfields in China. The company is also engaged in the exploration and development of unconventional gas resources in the United States.
As of the company's most recent financial statements, it had $7.3 milllion in cash and cash equivalents, and $3.8 million in total assets. The company has been experiencing financial difficulties and announced that it had filed for bankruptcy protection in Canada and the United States in 2015.
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