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Alvopetro Energy Ltd. (V:ALV)

Business Focus: Natural Gas Exploration & Production - Onshore

Sector:  Energy Industry:  Oil & Gas Exploration and Production
Company Contact
Address: Suite 1920, 215 9th Avenue SW
Tel: N/A
IR: See website
Key People
Corey C. Ruttan
President, Chief Executive Officer, Director
Alison Leanne Howard
Chief Financial Officer
Adrian Audet
Vice President - Asset Management
Business Overview
Alvopetro Energy Ltd. is a Canada-based company, which is engaged in the exploration for, and the acquisition, development and production of, hydrocarbons in Brazil. The Company is specialized in the development of Brazil's independent onshore natural gas industry with the Company's Cabure natural gas asset and midstream projects. It has interests in the Cabure and Murucututu natural gas assets, two exploration blocks (Block 182 and Block 183) and two oil fields (Bom Lugar and Mae-da-lua), in the Reconcavo basin onshore Brazil. The Cabure Field extends across four blocks in the Reconcavo Basin in the state of Bahia in Brazil, two of which are held by the Company and two of which are held by its partner. The Company's Murucututu natural gas project extends across Blocks 183 and 197, both held 100% by it. The Company is producing approximately 14 barrels of oil and/or natural gas liquids (condensate) per day (bopd) based on field estimates.
Financial Overview
For the nine months ended 30 September 2023, Alvopetro Energy Ltd revenues increased 2% to $44.5M. Net income increased 5% to $27.9M. Revenues reflect an increase in demand for the Company's products and services due to favorable market conditions. Net income benefited from Depletion and depreciation decrease of 56% to $2.1M (expense). Dividend per share increased from $0.24 to $0.42.
Employees: 31 as of Dec 31, 2022
Reporting Currency: U.S. Dollars
Enterprise value: $222.20M as of Sep 30, 2023
Annual revenue (TTM): $82.25M as of Sep 30, 2023
EBITDA (TTM): $67.93M as of Sep 30, 2023
Net annual income (TTM): $44.65M as of Sep 30, 2023
Free cash flow (TTM): $8.43M as of Sep 30, 2023
Net Debt Last Fiscal Year: N/A
Shares outstanding: 36,617,940 as of Jan 12, 2024
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization