Alvopetro Energy Ltd (TSX-V:ALV, OTC:ALVOF) CEO Corey Ruttan talked with Proactive about the company’s strong second quarter performance, highlighting key production and operational progress in both Brazil and Western Canada.
Alvopetro reported average production of 2,436 barrels of oil equivalent per day in Q2 2025, up 50% from the same period last year.
The quarter marked the first to include production from its newly acquired Western Canadian assets, which contributed 138 barrels per day.
This helped generate funds from operations totaling US$10.4 million, up 12% quarter-over-quarter.
Ruttan said the Western Canada assets complement the company’s disciplined capital allocation strategy.
"These initial two earning wells are certainly exceeding expectations," he noted.
Alvopetro is using open hole multi-lateral technology in Canada, with two recent wells providing over 19km of reservoir access.
In Brazil, drilling continues at both the Caburé and Murucututu fields. At Caburé, three wells are completed, with a fourth underway and all set to come online shortly. At Murucututu, a seven-zone completion was recently finished, with production expected soon.
Ruttan also addressed gas pricing stability under Brazil’s long-term contracts, noting operating netbacks of nearly US$55 per BOE and an 87% profit margin.