Strong Q1 results and rising gas prices boost outlook for Alvopetro Energy

Alvopetro Energy CEO Corey Ruttan joined Steve Darling from Proactive to provide a comprehensive operational update, highlighting solid April production and Q1 results, thanks to the ongoing development progress in Brazil, and improving natural gas pricing under the company’s long-term sales agreement. Alvopetro reported April sales volumes of 3,133 barrels of oil equivalent per day (boepd), driven primarily by its Brazilian operations. Production in Brazil averaged 2,953 boepd, including natural gas output of 16.7 million cubic feet per day, as well as 155 barrels per day of natural gas liquids from condensate and a modest 9 barrels per day of oil. Canadian assets contributed an additional 180 barrels per day of oil production during the month. Operationally, the company continues to advance development at its Murucututu Field, where drilling of the 183-D1 well has now commenced. This well follows the success of the 183-D4 well and is targeting the Caruaçu Formation, a key rese...