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Alvopetro Announces May 2021 Sales Volumes, Improved 2021 EBITDA Guidance, an Operational Update and Additional Early Debt Repayment
Alvopetro Announces May 2021 Sales Volumes, Improved 2021 EBITDA Guidance, an Operational...
About this update from Alvopetro Energy Ltd.
[{"type":"text","content":"\n \n \n \n Alvopetro Announces May 2021 Sales Volumes, Improved 2021 EBITDA Guidance, an Operational Update and Additional Early Debt Repayment\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{\nBORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:black 0pt; TEXT-ALIGN: LEFT; PADDING-LEFT:0.50em; BORDER-LEFT:black 0pt; PADDING-RIGHT:0.50em\n}\n.prnsbt0{\nBORDER-TOP:0pt\n}\n.prnsbr0{\nBORDER-RIGHT:0pt\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prnsbl0{\nBORDER-LEFT:0pt\n}\n.prnsbb0{\nBORDER-BOTTOM:0pt\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n CALGARY, AB\n \n ,\n \n June 3, 2021\n \n /CNW/ - Alvopetro Energy Ltd. (TSXV: ALV) (OTCQX: ALVOF) announces May sales volumes, updated and improved 2021 EBITDA guidance, an operational update and plans to repay an additional\n \n $3.5 million\n \n of our outstanding credit facility balance.\n \n \n All references herein to $ refer to United States dollars, unless otherwise stated.\n \n \n \n Corey Ruttan\n \n , President and CEO commented: \"With ongoing strong operational performance and an improved pricing outlook, I am very pleased to revise our EBITDA expectations upward. At the same time, as we fine-tune the phasing of capital spend relating to our exploration wells, we are seizing the opportunity to accelerate debt repayment, and now anticipate we will have repaid nearly 40% of our loan within less than a year of commencing production.\"\n \n \n \n May Sales Volumes\n \n \n \n May sales volumes averaged 2,353 boepd based on field estimates, including natural gas sales of 13.4 mmcfpd, associated natural gas liquids sales from condensate of 109 bopd, and oil sales of 10 bopd from our Bom Lugar field.  May sales increased 2% from our average April sales volumes of 2,313 boepd and increased 8% from our average Q1 2020 sales volumes of 2,175 boepd.\n \n \n \n 2021 EBITDA Guidance\n \n \n \n We expect our sales volumes to continue at rates between 1,850 boepd and 2,300 boepd for the remainder of 2021. Assuming GLJ Ltd.'s\n \n April 1, 2021\n \n commodity price forecast ...