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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
CALGARY AB T2P 1K3
Tel: N/A
Website: https://www.alvopetro.com
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 three months ended 31 March 2024, Alvopetro Energy Ltd revenues decreased 34% to $11.8M. Net income decreased 63% to $4.6M. Revenues reflect natural gas segment decrease of 35% to $11.1M, Natural Gas - Production - Total decrease of 38% to 879.6M cubic feet, Oil Equivalent Production (Units/day) - decrease of 39% to 2K barrels per day. Net income also reflects Production Costs per Unit - Average - To increase of 55% to $9.78 per
Employees: 31 as of Dec 31, 2023
Reporting Currency: U.S. Dollars
Enterprise value: $161.87M as of Mar 31, 2024
Annual revenue (TTM): $73.13M as of Mar 31, 2024
EBITDA (TTM): $58.32M as of Mar 31, 2024
Net annual income (TTM): $28.45M as of Mar 31, 2024
Free cash flow (TTM): -$6.82M as of Mar 31, 2024
Net Debt Last Fiscal Year: N/A
Shares outstanding: 36,617,940 as of Mar 31, 2024
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization