Alvopetro Energy Reports Strong Q3 2024 Production Growth and Well Updates

Proactive - Interviews for investors

Alvopetro Energy CEO Corey Ruttan joined Steve Darling from Proactive to share details on the company’s operational performance in September 2024 and provide an update on its ongoing drilling activities. The company reported a notable increase in production, with Q3 sales volumes averaging 2,106 boepd, marking a 29% jump from 1,629 boepd in Q2. In September, sales volumes reached an average of 1,963 boepd, which included 11.2 MMcfpd of natural gas, 87 bopd of condensate, and 9 bopd of oil. Ruttan also provided insight into the initial completion of the 183-A3 well. The well began production in September and is currently cleaning up as it produces both natural gas and completion fluids. Over the last 72 hours of continuous operation, the well has averaged 2.1 MMcfpd of gas, along with 175 barrels of completion fluid and 50 barrels of condensate per day. The flowing wellhead pressure during this period has averaged 1,195 psi, with a final value of 1,150 psi, and production has been controlled with an 18/64" choke. The company also completed a recompletion of the 183-1 well, but the zone encountered is currently producing only water. Moving forward, Alvopetro plans to monitor the 183-A3 well’s performance before designing an intervention for the 183-1 well. Additionally, they aim to begin a new drilling project up-dip of the 183-A3 well from the prebuilt 183-D pad location. #proactiveinvestors #alvopetroenergyltd #tsxv #alv #otcqx #alvof #OilAndGas #BrazilNaturalGas #EnergyProduction #CEOInterview #Q32024 #ProactiveInvestors #GasPlantCapacity #OrganicGrowth #EnergyStocks #invest #investing #investment #investor #stockmarket #stocks #stock #stockmarketnews