Alvopetro Energy Ltd (TSX-V:ALV, OTC:ALVOF) reported December 2024 sales volumes of 1,828 barrels of oil equivalent per day (boepd), comprising 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.
Fourth-quarter average sales volumes reached 1,738 boepd, based on field estimates.
However, reduced demand from Brazilian gas distributor Bahiagás in the latter half of December affected volumes.
Alvopetro’s updated long-term gas sales agreement with Bahiagás, effective January 1, 2025, sets a contracted daily firm volume of 400 thousand cubic meters per day (e3m3/d).
Deliveries under the new terms have commenced, providing the company with greater stability in its gas sales operations.
Alvopetro focuses on developing natural gas and energy projects in Brazil’s Bahia state, supported by long-term agreements with regional buyers.