Imperial Petroleum, Inc. (IPMN.OB) operates as a diversified energy and mineral mining company in the United States. Through its subsidiaries, the Company engages in the production and exploration of crude oil and natural gas. It has also emerged into the bio-diesel market in the US.
Imperial Petroleum’s oil and natural gas properties include the Coquille Bay field located in Plaqumines Parish, Louisiana; the Haynesville field located in Claiborne and Webster Parishes in north Louisiana; the Bastian Bay field located in Plaquemines parish, Louisiana; LulingField located in Guadalupe county, Texas; the Shrewsbury field in Grayson County, Kentucky; and the Claymour field in Todd County, western Kentucky.
The company operates 76 oil and gas wells in Texas and Louisiana, and owns an interest in approximately 280 wells operated by others. In addition, it owns an inactive gathering system comprised of approximately 15 miles of buried steel line in Kentucky, as well as the rights to 24 inactive gas wells.
Imperial Petroleum has estimated net proven oil and gas reserves of 424 million barrels of oil and 3,533 million cubic feet of gas. It also owns and operates the Duke Gold Mine in Utah and the UFO Mine and Rumico Millsite located in Yavapai County, Arizona. The company was incorporated in 1981 and is headquartered in Evansville, Indiana.
Imperial management believes that strategic mergers and acquisitions can open the doors to many significant opportunities available in the market. Imperial intends to seek out opportunities in other commodities (i.e. biodiesel and biofuels) that it believes have the potential to record a cyclical improvement in demand and price.
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