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Arrow Exploration Corp ( (TSE:AXL) ) has issued an announcement.
Arrow Exploration Corp. has announced the successful production of four wells in the Tapir Block of Colombia’s Llanos Basin, where it holds a 50% interest. The wells, including AB-3, CN HZ12, CN HZ13, and RCE HZ10, are contributing to a total corporate production of over 4,800 barrels of oil equivalent per day. The company maintains a strong balance sheet with no debt, allowing flexibility in its work program and exploration activities. Arrow is focusing on low-risk exploration to increase reserves and build drilling inventory, with plans to drill additional wells in the Mateguafa Oeste field. These developments are expected to enhance Arrow’s production capabilities and strengthen its position in the Colombian oil industry.
More about Arrow Exploration Corp
Arrow Exploration Corp. is a publicly traded company operating in Colombia through its subsidiary Arrow Exploration Switzerland GmbH. The company focuses on expanding oil production from Colombia’s active basins, including the Llanos, Middle Magdalena Valley, and Putumayo Basin. Arrow holds a portfolio of underexploited and under-explored oil assets with high growth potential, and it is listed on the AIM market of the London Stock Exchange and the TSX Venture Exchange under the symbol ‘AXL’.
Learn more about AXL stock on TipRanks’ Stock Analysis page.