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Arrow Exploration Corp ( (TSE:AXL) ) has issued an announcement.
Arrow Exploration Corp. has successfully drilled and commenced production from the Mateguafa HZ7 well in Colombia’s Llanos Basin on schedule and within budget. The well’s initial production results exceeded expectations, delivering 1,694 barrels of oil per day (gross) with a high-quality API of 30.6° and a minimal water cut. The company plans additional horizontal and vertical wells in the area, reinforcing the potential of the Mateguafa Attic field as a new core area in Arrow’s portfolio, underscoring its growth strategy and bolstered industry positioning.
More about Arrow Exploration Corp
Arrow Exploration Corp. is a publicly traded company focusing on oil production in Colombia through its 100% owned subsidiary, Carrao Energy S.A. The company operates in several hydrocarbon-rich basins, including Llanos, Middle Magdalena Valley, and Putumayo, with a strategy to expand production and leverage Brent-linked light oil pricing, low royalties, and high working interests to achieve strong operating margins.
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