05:17 PM EDT, 04/02/2024 (MT Newswires) -- Alvopetro Energy ( ALVOF ). (ALV.V) on Tuesday released its March 2024 sales volumes and an operational update.

The Brazilian oil and gas producer said its March sales volumes averaged 1,911 barrels of oil equivalent per day, including natural gas sales of 10.9-million cubic feet per day, associated natural gas liquids sales from condensate of 86 bpd and oil sales of 8 bpd, based on field estimates.

March volumes increased by 29% from February.

"Our upcoming capital projects are focused on optimizing production from our three existing wells on our Murucututu natural gas field," reads a company statement. "On our 183-A3 well, we have concluded production logging operations and plan to proceed with the initial completion of the upper two higher porosity Caruacu intervals of the wellbore."

All the work and other projects all scheduled to be done in the second quarter.

Alvopetro shares closed down C$0.05 to C$4.00 on the TSX Venture Exchange.