International Petroleum Reports Q3 Production, Cash Flow and Spending Guidance
IPC reported average net production of approximately 44,000 boepd, consistent with guidance, and $27 million in free cash flow. Net debt fell to $473 million. The company revised 2026 capital and decommissioning expenditure guidance to $185 million and said Blackrod remains on track for Phase 1 plateau production of 30,000 barrels per day in 2027.
International Petroleum Corporation (IPC) reported average net production of approximately 44,000 barrels of oil equivalent per day (boepd) for the third quarter of 2026, consistent with its guidance. The company generated $27 million in free cash flow during the period, with net debt reduced to $473 million. IPC revised its full-year 2026 capital and decommissioning expenditures guidance to $185 million to account for additional capital activity at its producing assets.
Regarding its share repurchase program, the company bought back and cancelled 1.1 million common shares during the third quarter under its normal course issuer bid (NCIB) and plans to seek approval for an NCIB renewal for the twelve-month period beginning in early December 2026. Additionally, the company confirmed that its Blackrod field development remains on track to reach a Phase 1 plateau production rate of 30,000 barrels of oil per day in 2027.