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Alvopetro Announces July 2023 Sales Volumes, an Operational Update, our Semi-Annual Natural Gas Price Redetermination and Timing of Q2 2023 Results and Earnings Call
Alvopetro Announces July 2023 Sales Volumes, an Operational Update, our Semi-Annual Natural Gas P...
About this update from Alvopetro Energy Ltd.
[{"type":"text","content":"\n \n \n \n Alvopetro Announces July 2023 Sales Volumes, an Operational Update, our Semi-Annual Natural Gas Price Redetermination and Timing of Q2 2023 Results and Earnings Call\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; VERTICAL-ALIGN: TOP; TEXT-ALIGN: LEFT; BORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; BORDER-BOTTOM:black 0pt; BORDER-LEFT:black 0pt\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prnml40{\nMARGIN-LEFT:3.33em !IMPORTANT\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n CALGARY, AB\n \n \n ,\n \n \n Aug. 4, 2023\n \n \n /CNW/ - Alvopetro Energy Ltd. (TSXV: ALV) (OTCQX: ALVOF) announces\n \n July 2023\n \n sales volumes, our\n \n August 1, 2023\n \n natural gas price redetermination, an operational update and timing for release of our Q2 2023 results and earnings call.\n \n \n \n \n July 2023\n \n Sales Volumes\n \n \n \n July sales volumes averaged 2,018 boepd, including natural gas sales of 11.6 MMcfpd and associated natural gas liquids sales from condensate of 90 bopd, based on field estimates.\n \n \n \n Operational Update\n \n \n \n On\n \n July 11\n \n \n th\n \n we spud our 183-A3 well on our Murucututu natural gas field. The 183-A3 well is targeting shallower exploration potential in the Caruaçu Formation and the Gomo member of the Candeias Formation. We expect to finish drilling in the third quarter. We also expect to complete our recently drilled Bom Lugar well (BL-06) and have the well on production in the third quarter.\n \n \n \n Semi-Annual Natural Gas Price Redetermination\n \n \n \n Effective\n \n August 1, 2023\n \n , our natural gas price under our long-term gas sales agreement (\"GSA\") with Bahiagás has been adjusted to BRL1.99/m\n \n 3\n \n or $13.25/Mcf (based on our average heat content to date, the July 31,\n \n 2023 BRL\n \n /USD foreign exchange rate of 4.74 and enhanced sales tax credits applicable in 2023). The contracted price is based ...