Alvopetro Energy Ltd. (ALVOF) Q3 2023 Earnings Call Transcript

Alvopetro Energy Ltd. (OTCQX:ALVOF) Q3 2023 Earnings Conference Call November 9, 2023 11:00 AM ET

Company Participants

Corey Ruttan – President and CEO

Alison Howard – CFO

Adrian Audet – VP, Asset Management

Conference Call Participants

Corey Ruttan

All right. Good morning. Thank you to everyone for joining us again today for our Q3 2023 Results Webcast. I’m Corey Ruttan, President and CEO. I’m joined by Alison Howard, our CFO; and Adrian Audet, our VP, Asset Management.

Turn it over…

Alison Howard

Good morning, everyone. Thanks for joining. Just before we begin, a couple of administrative points. We will be recording today’s webcast, and there will be a replay on our website shortly after the call today. [Operator Instructions] We will have a Q&A session at the end of the presentation.

[Operator Instructions] Lastly, we will be going through some non-GAAP measures, and some forward-looking statements will be made in this presentation today. So just please, when you get a chance, read through our cautionary statements and other disclosure. Those are at the end of our corporate presentation, which is on our website.

And with that, I’ll turn it over to Corey.

Corey Ruttan

All right. Thank you, Alison.

So our production in the third quarter was just shy of 1,700 barrels of oil equivalent per day. That was previously announced. It was impacted by the temporary demand decrease that we saw in the state of Bahia in the month of September.

You can see in October that’s reversed. We posted production of 1,839 barrels of oil equivalent per day in October, and that’s continued to be strong in November. Our strategy, we’ll focus on this later, is to really focus on adding 100% working interest in natural gas production from our near-term capital projects so that we can maximize the throughput through our gas plant

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