International Petroleum Corporation Corporate Update: Blackrod Phase 1 Commencement of Steam Injection [Canadian Business Journal (Canada)]
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Source: Canadian Business Journal
International Petroleum Corporation (IPC or the Corporation) (TSX, Nasdaq Stockholm: IPCO) is pleased to provide an update on the Blackrod Phase 1 development in Canada. Following substantial progress on the project achieved during 2025, IPC commenced first steam injection at the Blackrod Phase 1 project on December 20, 2025. As previously announced, IPC forecasts first oil production at the Blackrod Phase 1 project to occur in Q3 2026, a quarter earlier than originally guided.William Lundin, IPC’s President and Chief Executive Officer, comments: “We are extremely excited to announce that first steam at the transformational Blackrod Phase 1 development project occurred in December 2025. The warm-up process, through steam circulation, for the initial set of wells is ongoing and we continue to forecast first oil production from Blackrod Phase 1 in Q3 2026. The Blackrod Phase 1 development remains on budget with a forecast growth capital expenditure of MUSD 850 to first oil. IPC plans to
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