Alvopetro Energy CEO discusses breakthrough natural gas operations in Brazil and future growth plans

Alvopetro Energy CEO Corey Ruttan joined Steve Darling from Proactive to discuss the company’s impressive achievements and future outlook in Brazil's natural gas sector.

Ruttan highlighted the pivotal moment on July 5, 2020, when Alvopetro became the first independent company to deliver sales-specified natural gas to the local market, breaking the long-standing monopoly held by the state oil company, Petrobras.

Operating in the Reconcavo Basin in northeast Brazil, Alvopetro supplies natural gas to Bahia Gas, with its production site strategically located just 15 km from key industrial consumers.

Ruttan also shared updates on the company's ongoing operations, including the exciting progress at the Murucututu asset, where two recompletions are currently underway.

Looking toward the future, Alvopetro has set its sights on expanding production through the drilling of five new development wells at the Caburé unit, with targeted growth anticipated in late 2024 and into 2025. Ruttan emphasized Alvopetro’s ability to swiftly convert new gas discoveries into production and cash flow, thanks to the company’s established infrastructure.

In addition to discussing operational achievements, Ruttan outlined the company’s multi-year development strategy, which will drive continued growth and activity over the next six months. He also highlighted the strong relationships Alvopetro has built with local communities, regulators, and government officials, further solidifying the company’s position in Brazil’s evolving energy landscape.


#proactiveinvestors #alvopetroenergyltd #tsxv #alv #otcqx #alvof #CoreyRuttan #NaturalGas #BrazilEnergy #OilAndGas #EnergySector #Murucututu #GasProduction #BahiaGas #BrazilianMarket #ProactiveInvestors #invest #investing #investment #investor #stockmarket #stocks #stock #stockmarketnews