Increased Production Capacity
Alvopetro's January and February production averaged 2,375 barrels of oil equivalent per day, up 37% from Q4 2024 production.
Dividend Increase
Announced an increase in the dividend for Q1 2025 to US$0.10 per share, reflecting a 12% yield at current share prices.
Significant Reserve Growth
Proved reserves increased by 65% and proved + probable reserves increased by 5% year-over-year.
Strong Operating Netback Margin
Despite a slight decrease, the operating netback remained high at 86%.
Debt-Free Status
Maintained a strong balance sheet with $13.2 million in working capital and no debt since September 2022.
Strategic Expansion into Canada
Entered the Western Canadian Sedimentary Basin, targeting Mannville heavy oil fairway with promising new technologies.
Successful Contract Revision
Revised gas sales agreement with Bahiagás, increasing firm sales by 33% and removing previous contractual ceiling provisions.