Alvopetro Energy Ltd. (ALV) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

joining our third quarter 2025 earnings call. I'm joined today by Alison Howard, our CFO, and Adrienne Adet, our Vice President, Asset Management. Hi, everyone. Just a few administrative points before we begin. We will be recording today's call and there will be a replay available on our website later on this afternoon. All attendees have been placed in listening only mode for the duration of the presentation. We will be having a Q&A session at the end of the presentation and you can start logging any questions you have now using the Q&A button you should see on your Zoom screen there, and we'll get to those at the end of the presentation. If you've dialed in by phone, you can send us any questions to socialmedia at alvopetro.com. Lastly, just a reminder, we do go through various non-GAAP measures and we make forward-looking statements throughout the presentation, so we do encourage you to read all of our cautionary statements and other disclosures at the end of the corporate presentation on our website, as well as details on all the non-GAAP calculations in our MD&A that we released yesterday. All right. Thank you, Alison. So just start things off with production. Just remember, at the end of last year, we upgraded our gas sales agreement with our offtaker, Bahia Gas. In connection with that, we did increase the firm volumes under our contract by a third. And that allowed us to post some pretty strong production increases. As we started this year, Q1, we had a 41% increase quarter over quarter. The production's been relatively steady through the year. We did have a slight decrease in our third quarter production in Brazil, mostly in the month of September, which we'd already announced previously, and that was due to just some demand disruptions. And just keep in min...