Energy Country Review: Complimentary 7-day trial

  • News-alert sign up
  • Contact us

nternational Petroleum

Contacts

International Petroleum Corp.
Suite 2000, 885 West Georgia Street
Vancouver, BC
V6C 3E8, Canada

Tel: +1 604 689 7842

Operations Office
International Petroleum SA
5 chemin de la Pallanterie
1222 Vésenaz
Switzerland

Tel: +41 22 595 10 50

Description

International Petroleum Corporation (IPC) is an internationally focused upstream oil and gas company with a portfolio of exploration and production assets in Canada, Malaysia and France.

IPC has existing proved and probable reserves of 300 million barrels of oil equivalent at 31 December 2019 (MMboe) and a forecast net production for 2020 of 46,000 to 50,000 barrels of oil equivalent per day (boepd).

Production and reserves

During the fourth quarter of 2019, average daily net production was 47,200 boepd, a four percent increase from Q3 2019. Full year 2019 average production was 45,800 boepd, in line with Q3 2019 guidance. Record high net production levels above 49,000 boepd were achieved in early December 2019.

As at end December 2019, IPC’s 2P reserves are 300 MMboe compared to 288 MMboe as at December 31, 2018. This includes a reserves replacement ratio in 2019 of 89 percent, excluding the assets to be acquired in the Granite transaction, and 173 percent including the Granite assets. In addition, IPC has increased its best estimate contingent resources (unrisked) as at end December 2019 to 1,089 MMboe, compared to 849 MMboe as at end December 2018.

Website