Alvopetro Energy Ltd (TSX-V:ALV, OTC:ALVOF) kept sales steady in November at 2,851 boepd, buoyed by strong natural gas demand in Brazil that pushed deliveries above contracted volumes for most of the month despite a planned two-day shutdown.
In Brazil, where the company operates its Caburé and Murucututu natural gas fields, sales averaged 2,702 boepd in November, including 15.1 million cubic feet per day (MMcfpd) of natural gas, 163 barrels per day (bopd) of natural gas liquids, and 19 bopd of oil.
Gas deliveries continued above contracted firm volumes for most of the month, the company said, with a two-day planned shutdown partially reducing output.
Natural gas volumes at Caburé rose to 9,880 Mcfpd in November from 9,254 Mcfpd in October, while Murucututu volumes eased to 5,243 Mcfpd from 5,997 Mcfpd. Total Brazilian gas sales of 15,123 Mcfpd compared with 15,251 Mcfpd in October.
In Canada, Alvopetro reported average November oil sales of 149 bopd, down slightly from 157 bopd the previous month.
The company said its reported sales volumes may differ from production figures due to the timing of deliveries. It is also in the process of divesting its Bom Lugar and Mãe da Lua oil fields in Brazil, with closing subject to regulatory approval.
Alvopetro said it continues to balance investment between Canada and Brazil, focusing on organic growth around its core Brazilian gas assets and associated midstream infrastructure.