In a recent interview with Alvopetro Energy (TSXV:ALV,OTCQX:ALVOF) President and CEO Corey Ruttan, he expressed confidence that his company is set to become a key player in Brazil’s open gas market.
Alvopetro’s natural gas sales increased to 187 percent in October of this year, according to the company. With higher overall sales volumes, revenue rose to $12.9 million, an increase of $0.6 million from Q3 2023 and $2.2 million from Q2 2024.
To date, Alvopetro’s production accounts for roughly 13 percent of the natural gas produced in Bahia, and with investments already made in its gas production infrastructure and pipelines, any new natural gas discoveries moving forward can be quickly converted into production and cashflow.
Watch the full interview with Alvopetro Energy President and CEO Corey Ruttan.