Alvopetro Energy (TSE:ALV) has released an update.
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Alvopetro Energy recently disclosed its financial results for the year ending December 31, 2023, announcing a Q1 2024 dividend of $0.09 per share alongside its annual information form. The company reported significant reserves with a total proved plus probable reserves of 8.7 MMboe, and is focusing on capital projects to optimize production from its Murucututu natural gas field with an expected expenditure of $4.1 million. Despite a 26% decrease in sales volumes due to reduced demand, sales have picked up in March, with adjustments to natural gas prices reflecting inflation and currency valuation changes.
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