Alvopetro Energy Ltd (TSX-V:ALV, OTC:ALVOF) announced that its third quarter 2025 average daily sales rose 11% year over year to 2,343 barrels of oil equivalent per day (boepd).
The oil and gas junior also generated funds flows from operations of US$10.4 million during the quarter, or US$0.28 per share, an increase of US$0.6 million from the same period last year.
"Our sales in Brazil in October averaged 2,766 boepd, a 34% increase from September," Alvopetro Energy CEO Corey Ruttan said in a statement.
"Our Western Canadian assets added an additional 157 bopd bringing our company average up to 2,923 boepd, a new record for Alvopetro."
Alvopetro Energy also noted that the 183-D4 well on its 100% owned Murucututu project in Brazil achieved IP30 rates of 1,071 boepd, significantly above its pre-drill estimates.
The company added that with the 183-D4 well producing since late August, it achieved Q3 natural gas sales from Murucututu of 3.6 million cubic feet per day (MMcfpd), a 199% quarter over quarter increase.
As well, Alvopetro Energy reported that two additional wells in Western Canada were drilled in the third quarter, which began producing in September.
Furthermore, the company agreed to fund 100% of two earning wells in Western Canada to earn a 50% working interest in an additional 46.9 sections of land, as part of an expanded area of mutual interest with its existing partner.
The two earning wells are expected to begin drilling in late 2025.