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IPC Canada released its Q3 report recently, and the company did highlight some recent M&A transactions that have transformed the company’s asset base. While the Blackrod oil sands project remains a major focus for IPC, these transactions do provide some insight into the company’s other areas of interest. The Q3 report cites the completion of an acquisition in March 2023, in which IPC Canada acquired Cor4 Oil Corp. The mineral rights transfer for that acquisition are pictured below, in which we can see 168.7 net sections of mineral rights transferred from Cor4 to IPC. In Figure 1 below, the mineral rights transfer is shown in blue, with the existing IPC Canada Crown mineral rights shown in pink. In the acquisition press release the volumes associated with this transaction were suggested to have a 2023 average of around 4,000 BOE/d. BOE Intel’s well licence transfer tool shows that on June 23, 2023 there were 1,685 licences that were transferred with gross production from those licences at the month of transfer of 5,737 BOE/d (including 4,102 bbl/d of oil). Keep in mind that that production figure is a gross number, and the company may have working interest agreements in those wells. […]
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