TSX:IPCOOil and Gas
International Petroleum (TSX:IPCO) Is Up 5.9% After Early Blackrod First Steam Milestone - Has The Bull Case Changed?
International Petroleum Corporation has reported that, following substantial progress during 2025, it began first steam injection at its 100%-owned Blackrod Phase 1 project in Canada on December 20, 2025, which targets plateau production of 30,000 bopd under an approved capacity of up to 80,000 bopd.
The update also shows that about US$785 million of the planned US$850 million growth capital to first oil has already been spent, highlighting that roughly 92% of Phase 1’s budgeted investment...