Alvopetro Energy Reports December Sales Volumes and New Gas Agreement with Bahiagás

2 min read | January 08, 2025 06:27 PM AEDT | By Team Kalkine Media

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Alvopetro Energy Reports December Sales Volumes and New Gas Agreement with Bahiagás — Image source: Shutterstock

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Highlights

Alvopetro reported December 2024 sales of 1,828 boepd, including natural gas, NGLs, and oil.

The company experienced reduced demand from Bahiagás in late December, affecting sales volumes.

An updated gas sales agreement with Bahiagás, effective January 2025, ensures a contracted firm volume of 400 e3m3/d, providing greater stability.

Alvopetro Energy Ltd. (TSX-V:ALV) has reported its sales volumes for December 2024, highlighting 1,828 barrels of oil equivalent per day (boepd). This total includes 10.3 million cubic feet per day (MMcfpd) of natural gas, 110 barrels per day (bopd) of natural gas liquids (NGLs), and 9 bopd of oil.

For the fourth quarter, the average sales volumes reached 1,738 boepd, based on field estimates. However, the company noted that reduced demand from the Brazilian gas distributor Bahiagás in the latter half of December impacted overall volumes.

To address this, Alvopetro has entered into an updated long-term gas sales agreement with Bahiagás, effective January 1, 2025. The new agreement sets a contracted daily firm volume of 400 thousand cubic meters per day (e3m3/d), with deliveries already underway. This contract is expected to provide the company with greater stability in its gas sales operations moving forward.

Alvopetro continues to focus on the development of its natural gas and energy projects in Brazil’s Bahia state, supported by long-term agreements with regional buyers.

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