International Petroleum Corporation (IPC) have announced 2020 production guidance of 46,000 to 50,000 boepd. The company forecast operating costs for 2020 to be USD 13.7 per boe. The company also forecast significant free cash flow generation based on their 2P reserves base of an aggregate of more than USD 500 million to USD 1.3 billion over the coming five years, without taking into account development of contingent resources or any further potential acquisitions.

The company's 2020 capital expenditure budget is USD 149 million, targeting production growth in all of their countries of operations. The budget includes continued oil drilling and gas optimization activities in the Suffield area, Onion Lake Thermal facilities work and Blackrod project activities in Canada, as well as carry-over drilling expenditures on the Bertam field in Malaysia. In France, IPC continue with finalising Phase I of the Vert La Gravelle redevelopment project and the company plan to commence the Villeperdue West development project. In addition, the budget includes approximately USD 10 million to invest in growing the assets to be acquired in the Granite transaction in Canada.

Link to IPC France country profile   l   Link to IPC Malsysia country profile