06:59 AM EDT, 05/06/2025 (MT Newswires) -- International Petroleum ( IPCFF ) on Monday reported 50% drop in first-quarter net income as commodity prices declined.

Net income plunged to US$16.2 million from US$33.7 million. Revenue fell to US$178.5 million from US$206.4 million.

EBITDA dropped to US$70.9 million from US$87 million.

The company produced 44,400 barrels of oil equivalent per day, declining from 48,800 boe/d. Production was within the guidance range for the period and was composed of 52% heavy crude oil, 15% light and medium crude oil and 33% natural gas.

International Petroleum ( IPCFF ) maintained its full-year 2025 average net production guidance at 43,000 to 45,000 boe/d.