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Alvopetro Energy sees strong Q1 growth with boost in Brazilian gas sales and Canadian oil production

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Alvopetro Energy CEO Corey Ruttan joined Steve Darling from Proactive to share the company’s Q1 2025 earnings and operational highlights, revealing a robust start to the year driven by increased production in Brazil and new contributions from Canadian assets. The company reported a 41% year-over-year increase in first-quarter sales volumes, reflecting continued momentum in its core Brazilian natural gas operations. Field-estimated April sales volumes averaged 2,372 barrels of oil equivalent per day (boepd), including 13.5 million cubic feet per day (MMcfpd) of natural gas and 126 barrels per day (bopd) of condensate. Alvopetro’s Murucututu field remains a key driver of its Brazilian gas production, although Q1 volumes were partially impacted by downtime at the 183-A3 well. An intervention was successfully executed to isolate lower intervals and improve productivity. Looking ahead, the company has spud the 183-D4 well targeting the Caruaçu Formation, approximately 110 metres structurally updip of the 183-A3 well. A sidetrack operation is currently underway on the lower 680 metres of this new well. In parallel, the company has made notable progress in Canada. Two newly drilled wells with a 50% working interest came online in April, contributing approximately 90 bopd net to Alvopetro after initial clean-up. These additions bring the company’s total estimated April sales to 2,462 boepd. While this represents a 5% decrease compared to March, it marks a 1% increase over the Q1 average, indicating continued underlying strength. Ruttan also noted a positive development in pricing. As of May 1, Alvopetro’s natural gas price under its long-term agreement with Bahiagás has been adjusted to BRL2.08 per cubic metre, up 7% from the February price of BRL1.95/m³. This adjustment further strengthens the company’s revenue outlook for the remainder of the year. #proactiveinvestors #alvopetroenergyltd #tsxv #alv #otcqx #alvof #OilAndGas #BrazilNaturalGas #EnergyProduction #CEOInterview #Q32024 #ProactiveInvestors #CoreyRuttan #NaturalGas #BrazilEnergy #OilAndGas #EnergySector #ReservesUpdate #GasSales #ProactiveInvestors #2025Outlook

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