Alvopetro Energy (“ALV”) reported weaker Q3’23 results due to lower gas sales: EBITDA of US$10.2mm (-26% y/y and -13% q/q) and cash flow from operations pre-working capital of US$9.6mm (-28% y/y and -13% q/q). Q2’23 sales dropped to 1,696kboe/d (-36% y/y and -14% q/q) but its realised gas price rose to US$13.06/mcf (+17% y/y and +2% q/q). This led to an impressive sector leading operating netback of >US$70/boe (+18% y/y). Capex increased to US$10.7mm for Q3 with costs for the 183-A3 well (US$6.7 ....
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10 Nov 2023
Alvopetro Energy: Q3’23 results - volumes recovering in early Q4 and interesting potential from 183-A3 well
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Alvopetro Energy: Q3’23 results - volumes recovering in early Q4 and interesting potential from 183-A3 well
- Published:
10 Nov 2023 -
Author:
Anish Kapadia -
Pages:
7 -
Alvopetro Energy (“ALV”) reported weaker Q3’23 results due to lower gas sales: EBITDA of US$10.2mm (-26% y/y and -13% q/q) and cash flow from operations pre-working capital of US$9.6mm (-28% y/y and -13% q/q). Q2’23 sales dropped to 1,696kboe/d (-36% y/y and -14% q/q) but its realised gas price rose to US$13.06/mcf (+17% y/y and +2% q/q). This led to an impressive sector leading operating netback of >US$70/boe (+18% y/y). Capex increased to US$10.7mm for Q3 with costs for the 183-A3 well (US$6.7 ....