International Petroleum Corp
STO:IPCO

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International Petroleum Corp Logo
International Petroleum Corp
STO:IPCO
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Price: 157.7 SEK 0.96%
Market Cap: 17.7B SEK

International Petroleum Corp
Investor Relations

In the vast and intricate tapestry of the global energy market, International Petroleum Corp. (IPC) stands out as a dynamic player. Rooted in the topography of the oil-rich regions of Canada, Malaysia, and Europe, IPC has carved out its niche through strategic acquisitions and efficient resource management. Their operations span the bold pursuit of exploration to the calculated execution of production, focusing on the upstream sector of the oil and gas industry. This involves the initial exploration for new oil reserves, followed by the complex process of drilling and extracting crude oil and natural gas. IPC's ability to transform these raw materials into salable commodities underscores its essential role in bridging the global energy supply and demand.

Underpinning IPC's success is its reliance on a robust business model that capitalizes on fluctuating oil prices. The company maximizes revenues by optimizing production costs and enhancing extraction efficiency, ensuring profitability even when market dynamics are challenging. By emphasizing operational excellence and sustainability, IPC not only boosts its margins but also reinforces its future potential amidst evolving environmental standards and market regulations. It is this keen adaptability and sharp focus on value creation that allows IPC to thrive in the competitive landscape, maintaining a steadfast commitment to delivering energy that powers economies around the world.

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Last Earnings Call
Fiscal Period
Q3 2025
Call Date
Nov 4, 2025
AI Summary
Q3 2025

Production Beat: Quarterly production averaged 45,900 barrels of oil equivalent per day, coming in above guidance and with full-year guidance of 43,000–45,000 maintained.

Costs Under Control: Operating costs were $17.90 per BOE for Q3, slightly below expectations; full-year guidance of $18–$19 per BOE is maintained, likely trending toward the lower end.

Blackrod Project Ahead of Schedule: The Blackrod Phase 1 oil sands project is now expected to deliver first oil in Q3 2026, a quarter earlier than previously guided, with budget unchanged at $850 million.

CapEx Increased: Capital expenditure guidance for 2025 is raised to $340 million (from $320 million) due to accelerated Blackrod drilling.

Cash Flow & Debt: Operating cash flow was $66 million for Q3 and $196 million year-to-date; net debt is $435 million at quarter-end, with gross cash at $45 million.

Share Buyback: Over 6% of shares repurchased in the 2024-2025 program, with intent to renew buybacks in December.

Hedging Update: Approximately 50% of 2025 oil production hedged; new differential and gas price hedges added for 2026.

Guidance Maintained: Full-year outlook for production, operating costs, and operating cash flow is unchanged, with FCF expected negative due to Blackrod investment.

Key Financials
Production
45,900 BOE/d
Operating Cost per BOE
$17.90
Capital Expenditure (2025)
$340 million
Operating Cash Flow (Q3)
$66 million
Operating Cash Flow (YTD)
$196 million
Free Cash Flow (Q3 post CapEx)
-$23 million
Free Cash Flow (Q3 pre-Blackrod CapEx)
$36 million
Net Debt
$435 million
Gross Cash
$45 million
Blackrod CapEx Incurred (2023–Q3 2025)
$785 million
Share Buyback Reduction
Over 6% of shares outstanding
Brent Oil Price (Q3 average)
$69 per barrel
Full-Year Free Cash Flow (Guidance, incl. Blackrod CapEx)
-$160 million to -$170 million
Earnings Call Recording
Other Earnings Calls

Management

Mr. William A. W. Lundin
CEO, President & Director
No Bio Available
Mr. Christophe Nerguararian
Chief Financial Officer
No Bio Available
Ms. Rebecca Gordon
Senior Vice President of Corporate Planning & Investor Relations
No Bio Available
Mr. Jeffrey Fountain
General Counsel & Corporate Secretary
No Bio Available
Mr. Nicki Duncan
Chief Operating Officer
No Bio Available
Mr. Christopher W. Hogue CET
Senior Vice President of Canada
No Bio Available
Mr. Curtis White
Vice President of Commercial - Canada
No Bio Available

Contacts

Address
BRITISH COLUMBIA
Vancouver
2000-885 Georgia St W
Contacts