Ivanhoe Energy Inc. (IVAN) Updates Drilling Program in China
Ivanhoe Energy Inc. reported an update on the company’s oil and gas development activities on its prospective properties in China. Ivanhoe Energy Inc. is currently drilling two wells on the Zitong natural gas project located in Sichuan Province. The company is targeting tight gas formations similar to ones being developed in the United States. Ivanhoe Energy Inc. said that the Zitong-1 well is targeting a formation in the Guan structure and has been drilled to a total depth of 13,143 feet. The company said that it would continue vertical drilling to 14,764 feet and then decide on a horizontal drilling…