International Petroleum Corporation

IPCO

Equity

ISIN CA46016U1084 / Valor 36475291

NASDAQ Nordic Exchange Stockholm, Equities (2024-12-23)

SEK 119.70+1.96%

International Petroleum Corporation
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About company

International Petroleum Corporation (IPC) is a Canadian company listed on the Toronto Stock Exchange and Nasdaq Stockholm, with a focus on upstream oil and gas operations in Canada, Malaysia, and France. With a portfolio of exploration, production, and development assets, IPC has significant 2P reserves and contingent resources, positioning the company for both organic and inorganic growth. The company's average net production forecast for 2024 is between 46,000 to 48,000 boe per day, with operating costs projected to be between USD 18 to 19 per boe.

Summarized from source with an LLMView SourceSector: Energy

Share Repurchase Program

International Petroleum Corporation purchased and cancelled 2.2 million IPC common shares during Q2 2024 under its normal course issuer bid (NCIB). The company continues to target the completion of the full 2023/2024 NCIB within this year.

Operating Costs and Cash Flow

Operating costs per barrel of oil equivalent (boe) were USD 14.7 for Q2 2024, which is below the guidance. The company generated an operating cash flow (OCF) of MUSD 102 for Q2 2024, surpassing the guidance range.

Capital Expenditures and Free Cash Flow

Capital and decommissioning expenditures for Q2 2024 were MUSD 86, aligning with the guidance. Free cash flow (FCF) generation for Q2 2024 amounted to MUSD 8, or MUSD 75 pre-Blackrod Phase 1 project funding.

Net Result and Debt

International Petroleum Corporation reported a net result of MUSD 45 for Q2 2024. As of June 30, 2024, the company had gross cash of MUSD 369 and net debt of MUSD 88.

Revenue and Profit

For Q2 2024, International Petroleum Corporation reported revenue of USD 219,040 thousand and a gross profit of USD 72,708 thousand. The net result for the same period was USD 45,210 thousand.

Summarized from source with an LLMView Source

Key figures

-4.24%1Y

144%3Y

190%5Y

Performance

33.0%1Y

40.0%3Y

49.4%5Y

Volatility