Alvopetro Energy Ltd (TSX-V:ALV, OTC:ALVOF, FRA:A6Y0) reported average sales volumes of 3,133 barrels of oil equivalent per day (boepd) for April 2026, broadly in line with first quarter levels, according to a company press release.
The majority of output came from the company’s Brazilian operations, where sales averaged 2,953 boepd. This included natural gas production of 16.7 million cubic feet per day (MMcfpd), as well as 155 barrels per day (bopd) of natural gas liquids and 9 bopd of oil.
Canadian operations contributed an additional 180 bopd of oil during the month.
In comparison, Alvopetro reported total company sales of 3,128 boepd for the first quarter of 2026. Brazilian natural gas volumes averaged 16.5 MMcfpd in the quarter, with liquids and oil production at 175 bopd and 12 bopd, respectively, while Canadian oil output averaged 193 bopd.
The company noted that reported sales volumes may differ from production due to the timing of deliveries.
On the operations side, Alvopetro said it has begun drilling its 183-D1 well in the Caruaçu Formation at the Murucututu Field, where it holds a 100% working interest. The well follows the previously successful 183-D4 well.
The company also reported the start of civil construction for the 183-G drilling pad, which is expected to support future development activity.
Alvopetro also provided an update on natural gas pricing under its long-term sales agreement. Effective May 1, 2026, the price for the first tranche of contracted volumes (QDC1) was set at BRL1.91 per cubic meter, a 3% increase from the prior reset. Pricing on incremental volumes (QDC2) rose 21% to BRL1.61 per cubic meter.
Based on current exchange rates and heat content assumptions, the company expects a weighted average realized natural gas price of approximately $11.31 per thousand cubic feet (Mcf) for the May through July 2026 period.
For the subsequent August through October period, the forecast rises to $13.06 per Mcf, assuming current benchmark pricing and a BRL/USD exchange rate of 5.00. Actual realized prices will depend on future exchange rates and commodity benchmarks.
Further, Alvopetro said it plans to release its first quarter 2026 financial results after market close on May 7, followed by a webcast on May 8.
Shares of Alvopetro gained around 1.1% on Tuesday morning.