Alvopetro Energy Ltd. (ALV) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Just a few administrative points before we begin. We are recording today's call and we will have a replay available on our website later on this afternoon. All attendees have been placed in listen-in only mode for the duration of the webcast, but we will have a Q&A session at the end of our presentation. So if you have any questions, you can start sending those in now using the Zoom Q&A button that you should see on your screen. If you've dialed in by phone, you can send us any questions to socialmedia at albopetro.com. Lastly, we do go through various non-GAAP measures and we make forward-looking statements throughout this presentation. So we do encourage you to review all the cautionary statements and additional disclosures, both on our corporate presentation and on our most recent management discussion and analysis that was just released yesterday for Q2. All right. Thank you, Alison. So as we previously announced, we did upgrade our gas sales agreement with Bahia Gas late last year, and as part of that we did increase our firm gas sales volumes by 33%. That, combined with some considerable operational successes, has resulted in a very strong start to 2025 for us. As per last quarter, Our production was up 41% quarter over quarter in Q1 and we had a similarly strong quarter in the second quarter here. Pretty consistent with Q1 and up 50% from the second quarter of last year. We did have some facility maintenance and inspections in Brazil that did impact the quarter. And that was offset by the addition of our new production in Western Canada that averaged 138 barrels of oil per day. As you can see here, our July production did continue at pretty consistent levels, averaging almost 2300 barrels of oil equivalent per day in Brazil and 134 barrels of oil per day in Ca...