International Petroleum raises 2026 cash flow forecast amid strong Q1 results and Blackrod project progress

International Petroleum Corporation (IPC) reported strong first quarter 2026 results with average production at 43,000 boepd and operating costs below guidance. The company increased its 2026 capital expenditure due to higher commodity prices driven by Middle East conflicts, boosting its full-year operating cash flow forecast to $220-$340 million from $100-$250 million. The Blackrod Phase 1 development in Canada is nearing completion, with first oil expected in Q3 2026, a quarter earlier than planned. IPC maintains its 2026 production guidance and has strengthened its liquidity by extending its Canadian credit facility.