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International Petroleum Corporation ( (TSE:IPCO) ) just unveiled an update.
International Petroleum Corporation has reported strong operational results for 2024, with an average net production of 47,400 barrels of oil equivalent per day. The company has made significant investments in the Blackrod Phase 1 development project in Canada, with over two-thirds of the forecast capital expenditure completed by year-end. IPC’s 2025 budget includes a capital and decommissioning expenditure of USD 320 million and an average daily production guidance of between 43,000 and 45,000 boepd. The company achieved a reserves replacement ratio of over 250%, ending the year with the highest 2P reserves in its history. IPC continued its share buyback program, returning USD 102 million to shareholders in 2024, and plans to further reduce its common shares outstanding by 6.2% by December 2025. These strategic moves are expected to strengthen IPC’s positioning and enhance value creation for stakeholders.
More about International Petroleum Corporation
International Petroleum Corporation (IPC) is engaged in the oil industry, focusing on the exploration and production of oil and natural gas. The company operates primarily in Canada, France, and Malaysia, with a strategic emphasis on maximizing stakeholder returns, organic growth, and mergers and acquisitions.
YTD Price Performance: 13.59%
Average Trading Volume: 84,620
Technical Sentiment Consensus Rating: Strong Sell
Current Market Cap: C$2.25B
See more insights into IPCO stock on TipRanks’ Stock Analysis page.
