IPC’s Q3 report was solid – Blackrod first oil is now guided one quarter earlier and the project has in general been significantly de-risked q/q (92% of pre-first oil capex spent at quarter-end vs. 86% last quarter). Furthermore, the report showed a beat vs. cons. and FY-25 guidance was largely reiterated. 2025 has so far been a strong year operationally, with Onion Lake Thermal delivering a near-record output of 14,000 boepd in September as one of the highlights. In this update, we have impleme ....
