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Drill Results

Alvopetro Announces Additional Firm Gas Sales, Updated Natural Gas Pricing & Q1 2026 Record Production

By The Northwire Desk — AI Analysis Apr 01, 2026 · 01:18 ALV · 9.53 Alvopetro Energy Ltd.
ALV · Price

Executive Summary

  • Alvopetro amended its long‑term Bahiagás agreement, adding 100 e³m³/d of firm gas sales (25% increase) for 2026‑2027, bringing contracted volume to ~500 e³m³/d (≈16.4 MMcfpd).
  • Updated natural‑gas pricing forecasts project weighted‑average realized prices of $10.09/Mcf (Feb‑Apr 2026), $10.68/Mcf (May‑Jul 2026) and $12.87/Mcf (Aug‑Oct 2026).
  • Q1 2026 production reached a new quarterly record of 3,124 boepd (up 24% vs. 2025 average), with March sales averaging 3,209 boepd; Brazil contributed ~3,014 boepd and Canada ~195 boepd.

Key Details

  • Firm Gas Sales Amendment
  • Additional 100 e³m³/d (QDC2) effective Jan 1 2026 – Dec 31 2027.

  • Pricing: US$/MMBtu = 10.5 % × average Brent oil price of the preceding quarter.

  • Existing Gas Sales Pricing (QDC1)

  • Effective Feb 1 2026, price set at BRL 1.85/m³ (2 % increase over Nov 1 2025).

  • Applies to up‑to 400 e³m³/d from Feb 1 2026 – Apr 30 2026.

  • Quarterly Weighted‑Average Realized Prices

  • Feb 1 – Apr 30 2026: $10.09/Mcf (based on BRL/USD 5.22).
  • May 1 – Jul 31 2026: $10.68/Mcf (same FX assumption).

  • Aug 1 – Oct 31 2026: $12.87/Mcf (forecasted Brent/Henry Hub).

  • Projected 2026 Sales Volumes

  • Contracted firm volume ≈463 e³m³/d (16.4 MMcfpd) after heating‑value adjustment.

  • Expected average 2026 Brazil sales: ~2,900 boepd (≈20 % increase vs. 2025).

  • Q1 2026 Production Highlights

  • March average: 3,209 boepd (5 % ↑ Feb 2026).
  • Brazil March: 3,014 boepd (17.0 MMcfpd gas, 167 bopd NGLs, 18 bopd oil).
  • Canada March: 195 bopd oil.

  • Q1 total: 3,124 boepd (24 % ↑ vs. 2025 average), new quarterly record.

  • Operational Update

  • Completed stimulation of lower Gomo interval in well 183‑1; low inflow observed, well currently shut‑in pending remedial evaluation.

  • Mobilizing drilling rig to D pad for 183‑D1 Caruaçu development well; drilling expected later this month.

  • Long‑Term Incentive Grants

  • Board approved 195,000 RSUs and 57,000 DSUs (total 252,000 units) to be granted on Apr 6 2026.

  • 146,000 RSUs + 57,000 DSUs allocated to officers/directors; each unit convertible into one common share; five‑year expiry.

  • Corporate Presentation

  • Updated presentation available at http://www.alvopetro.com/corporate‑presentation.

Notable Quotes

(No direct CEO/President quotes were included in the release.)

Read the original news release →

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