Alvopetro Energy reports June sales volumes as Brazil drilling program moves ahead
Published: 08:39 07 Jul 2026 EDT
Alvopetro Energy Ltd (TSX-V:ALV, OTC:ALVOF, FRA:A6Y0) has reported estimated June sales volumes of 2,990 barrels of oil equivalent per day (boepd), while providing an update on drilling activity in Brazil and higher natural gas prices under its long-term sales agreement.
June sales in Brazil averaged 2,834 boepd, consisting of natural gas sales of 16 million cubic feet per day (MMcfpd), condensate sales of 172 barrels per day and oil sales of 3 barrels per day. Canadian oil sales averaged 156 barrels per day.
The company said its estimated average daily sales volumes for the second quarter of 2026 were 3,067 boepd, compared with 3,128 boepd in the first quarter.
Natural gas sales in Brazil averaged 15.96 MMcfpd in June, down from 16.27 MMcfpd in May. Brazilian sales volumes declined to 2,834 boepd from 2,895 boepd the previous month, while Canadian oil sales fell to 156 barrels per day from 181 barrels per day.
Alvopetro also said it completed drilling the 183-D1 well at its wholly owned Murucututu natural gas field in June to a measured depth of 3,263 metres. Based on open-hole logs, the well encountered potential natural gas pay across the Caruaçu Member of the Maracangalha Formation and the Gomo Member of the Candeias Formation, with a combined 47.7 metres of potential pay.
The company said it is mobilizing equipment to complete the well and expects production to begin in early August.
Alvopetro added that it has accelerated its drilling schedule at the Murucututu field and now plans to drill the 183-H2 and 183-G2 wells sequentially, with drilling at the 183-H2 location expected to begin within the next two weeks.
Further, the company announced that effective August 1, natural gas prices under its long-term gas sales agreement will increase to BRL2 per cubic metre for the first 400,000 cubic metres per day of contracted volumes and to BRL1.91 per cubic metre for the next 100,000 cubic metres per day.
The company said the changes represent price increases of 5% and 19%, respectively, from the May 1, 2026, price reset. Based on current heat content and the June 30 exchange rate, Alvopetro expects a weighted average realized natural gas price of approximately $11.70 per Mcf for the August 1 through October 31 period, up 15% from its first-quarter realized price of $10.14 per Mcf. It noted that realized US dollar pricing will depend on exchange rates during the period.
