06:13 AM EDT, 07/30/2024 (MT Newswires) -- International Petroleum ( IPCFF ) second-quarter net profit rose as strong oil prices fueled operating cash flow.

The met result came in at US$45.2 million, up from US$32.0 million in the year-ago quarter, the company said on Tuesday. Revenue increased to US$219.0 million from US$205.6 million.

Operating cash flow rose to US$101.9 million from US$84.4 million.

International Petroleum ( IPCFF ) produced 48,400 barrels of oil equivalent per day (boe/d) in the second quarter, down from 51,800 boe/d. Production was in line with the guidance range for the period and consists of 50% heavy crude oil, 17% light and medium crude and 33% natural gas, the company said.

The company maintained its full-year average net production guidance of 46,000 to 48,000 boe/d.