Alvopetro Energy Ltd (TSX-V:ALV, OTC:ALVOF, FRA:A6Y0) CEO Corey Ruttan talked with Proactive about the company’s strong 2025 performance and ambitious growth plans for 2026, highlighting major reserve increases, production growth and dividend returns to shareholders.
Proactive: Alright welcome back inside our Proactive newsroom, and joining me now is Corey Ruttan, CEO of Alvopetro Energy Ltd. Corey it’s great to see you again. How are you?
Corey Ruttan: I’m very well thank you.
The company is out with its basic numbers for 2025 and looking ahead to 2026. One figure that really jumps off the page is 79% reserve expansion. That’s a significant milestone. What went well last year?
We had a really strong year. Last year really was a breakout year for Alvopetro. We were able to significantly increase our productive capacity off the strength of results from our 100% owned Murucututu project in northeast Brazil, mostly from the success of the 183-D4 well that we brought on production in August.
Average production in 2025 was up 41% year over year to over 2,500 barrels of oil equivalent per day. We exited 2025 with a record quarter at nearly 2,900 barrels of oil equivalent per day. To start 2026, we posted another record month in January at 3,100 barrels of oil equivalent per day — up 8% from Q4 and 23% above the 2025 average.
You operate in Brazil and Canada. Let’s start with Brazil. What are the plans there for 2026?
We announced our year-end reserves, which reflected the successes of 2025. Despite producing nearly one million barrels of oil equivalent last year, 1P reserves increased 79% to over 8 million barrels of oil equivalent, representing a 485% production replacement ratio.
2P reserves increased 43% to over 13 million barrels of oil equivalent, representing a 530% production replacement ratio. On a 1P basis, net present value increased 38%, and on a 2P basis it increased 20% to nearly $400 million.
For 2026, the capital plan focuses on Brazil and Canada. In Brazil, the company is expanding field production facilities and pipeline takeaway capacity at Murucututu to accommodate growing production. Once those projects are completed, the company plans to ramp up development drilling and unlock further value.
And what about Canada?
The company added a Canadian growth platform last year. It has drilled eight wells on a gross basis, four net wells, using open hole multilateral drilling technology. All wells are now on production.
The company has earned an interest in 75 sections of prospective land and sees over 100 tier-one drilling locations, positioning it for future growth.
