Proactive - Interviews for investors

Alvopetro Energy reports 41% Increase in sales volumes, plans new drilling campaigns

Episode Summary

Alvopetro Energy CEO Corey Ruttan joined Steve Darling from Proactive to announce that the company achieved January 2025 sales volumes of 2,457 boepd, including 13.8 MMcfpd of natural gas, 141 bopd from condensate, and 18 bopd of oil—a 41% increase from Q4 2024. Ruttan highlighted the role of the Murucututu field in this growth, following the successful recompletion of the 183-A3 well in Q3 2024. Alvopetro now plans to spud the 183-D4 location, targeting the Caruaçu Member approximately 110 metres up-dip from the 183-A3 site, with an additional exploratory target in the Marfin Formation. Results from the 183-D4 well are expected by the end of Q1 2025. After Murucututu, Alvopetro will drill and complete five development wells at the Caburé Unit as part of its development plan with its partner, further boosting production potential. In addition to its Brazilian operations, Ruttan shared the company’s strategy to expand in Canada. Alvopetro is targeting the Mannville multi-zone heavy oil fairway, focusing on formations like Colony, McLaren, Waseca, Sparky, GP, Rex, Lloydminster, and Cummings. The company aims to leverage multilateral drilling technologies to unlock attractive economics from these resources. Alvopetro is also partnering with Durham Creek Energy, funding 100% of two earning wells at an estimated cost of $4.5 million in exchange for a 50% working interest in 19.13 sections of land in western Saskatchewan. If successful, this land position could support up to 100 development drilling locations, providing a strong foundation for future growth. #proactiveinvestors #alvopetroenergyltd #tsxv #alv #otcqx #alvof #OilAndGas #BrazilNaturalGas #EnergyInvesting #GasSales #Drilling #OilProduction #CoreyRuttan #EnergyStocks #NaturalGas #CanadianOil #BrazilEnergy #OilIndustry #Investing #EnergyExpansion #StockMarketEnergyProduction #CEOInterview #Q32024 #ProactiveInvestors #GasPlantCapacity #OrganicGrowth #EnergyStocks