Alvopetro Energy Ltd (TSX-V:ALV, OTC:ALVOF) CEO Corey Ruttan talked with Proactive about the company’s third-quarter production results, new well performance, and expansion plans across Brazil and Canada.

Ruttan highlighted that the company achieved an average production of 2,343 barrels of oil equivalent per day. October marked a record high of over 2,900 barrels of oil equivalent per day, driven by strong output from the 183-D4 well at the Murucututu project in Brazil.

Ruttan explained that the 183-D4 well, drilled higher on the structure, produced nearly 1,100 barrels of oil equivalent per day over its first 30 days, almost double pre-drill expectations. He said: "We completed the well using some leading-edge North American completion technologies that were brought to bear for the first time ever in Brazil."

This success supported an amendment to Alvopetro’s long-term gas sales agreement with Bahiagas, increasing delivery obligations and driving strong financial performance. The company continues to benefit from high realized natural gas prices, exceeding US$11 per MCF in Q3.

Ruttan also spoke about Alvopetro’s strategic entry into Canada’s Mannville Stack heavy oil play. He said the move complements the Brazilian operations, offering a low-cost, scalable development opportunity with over 74 square miles of prospective land and multi-lateral drilling potential.

Discussing capital allocation, Ruttan confirmed that Alvopetro aims to maintain a 50/50 balance between shareholder returns and reinvestment, with dividends supported by strong cash flow.

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