12:08 PM EDT, 05/06/2025 (MT Newswires) -- (Updates shares.)

International Petroleum ( IPCFF ) on Monday reported 50% drop in its first-quarter profit on weaker commodity prices.

The company said its profit plunged to US$16.2 million from US$33.7 million. Revenue fell to US$178.5 million from US$206.4 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.

The company's shares were last seen up $0.70 to $19.03 on the Toronto Stock Exchange.

Price: 19.03, Change: +0.70, Percent Change: +3.82