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IPC completes $710MM acquisition of BlackPearl Resources
Lundin Petroleum spin-off International Petroleum Corp. closed its $709.9 million acquisition of Calgary’s BlackPearl Resources, adding conventional oil, thermal oil and oil sands assets in Saskatchewan and Alberta. The deal doubled IPC’s 2P reserves to 291.5 MMboe, increased total production by 50% to 45,000 boe/d—with a short-term line of sight to 50,000 boe/d and longer-term potential of 100,000 boe/d—and boosted its oil weighting from 42% to 74%. The acquisition creates a company with a......
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