TSXV:ALV - Post Discussion
Post by
Ladrian on Jun 03, 2021 1:59pm
EBITDA guidance raised by 18% from prior guidance
Alvopetro May sales rose 2%, EBITDA guidance raised by 18% from prior guidance
Alvopetro Energy's (OTCQX:ALVOF-2.0%) May sales volumes averaged 2,353 boepd based on field estimates, including natural gas sales of 13.4 mmcfpd, associated natural gas liquids sales from condensate of 109 bopd, and oil sales of 10 bopd from Bom Lugar field.
May sales increased 2% from average April sales volumes of 2,313 boepd and increased 8% from average Q1 sales volumes of 2,175 boepd.
We expect sales volumes to continue at rates between 1,850 boepd and 2,300 boepd for the remainder of 2021.
Based on this price, forecasted exchange rates of 5.4BRL:$1, and production levels of 1,950 boepd, EBITDA is expected to be $20M+ for 2021, an 18% increase from original 2021 guidance of $17M.
With a second early repayment of its outstanding credit facility of $3.5M on June 4, outstanding balance under its credit facility will come down to $9.5M.
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