International Petroleum Corp. (ticker: IPCO) has acquired conventional oil and gas assets in Alberta, Canada.

The Suffield and Alderson conventional oil and natural gas assets are held over a large, contiguous land position of 800,000 net acres of shallow natural gas rights and 100,000 net acres of oil rights in south-east Alberta, Canada. Production and reserves from the assets come from conventional shallow oil and gas wells.

The company said that these are stable and low-decline producing fields, with low production costs and significant future development potential from a combination of low risk development drilling, well stimulation and enhanced oil recovery opportunities.

The purchase consideration paid by IPC at completion was approximately CAD 449 million, after taking into account closing adjustments. This consideration amount includes the deposit of CAD 40 million made by IPC in September 2017. A further CAD 12 million will be payable at end June 2018, and the purchase price may be adjusted by certain additional contingent consideration.

IPC is operator of the Suffield and Alderson assets, with almost 100% working interest.

International Petroleum Acquires Shallow Conventional Alberta Assets

IPCO Suffield Acquisition Map

International Petroleum Acquires Shallow Conventional Alberta Assets

IPCO Suffield Estimated Reserves


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