Arrow Exploration Corp (TSE:AXL) has released an update.
Arrow Exploration Corp., a burgeoning operator in the Colombian hydrocarbon sector, has announced the commencement of drilling their first horizontal well, CNB HZ-1, on the Tapir Block in the Llanos Basin, aiming to exploit the Ubaque formation. The company’s strategic move to horizontal drilling follows a successful Q1 drilling program and is expected to significantly boost production from the Carrizales Norte field. With a robust financial position, featuring $12.4 million in cash and no debt, Arrow is poised for a transformative year in oil production.
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