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Arrow Exploration Corp ( (TSE:AXL) ) has issued an update.
Arrow Exploration Corp. reported a significant increase in oil and natural gas revenue for Q1 2025, with a 36% rise compared to the same period in 2024. The company achieved a net income of $2.7 million and improved its cash position to $24.9 million. Operational highlights include the drilling of two new wells in the Alberta Llanos field and the completion of a 90 km2 seismic survey in the Tapir Block. Arrow also entered a $20 million prepayment agreement with an energy major, providing financial flexibility for future growth. The company plans to continue its development program with additional drilling activities and infrastructure enhancements to support increased production.
More about Arrow Exploration Corp
Arrow Exploration Corp. is a high-growth operator with a portfolio of assets across key Colombian hydrocarbon basins. The company focuses on oil and natural gas production, leveraging its strategic positioning in the energy sector to enhance its market presence and operational efficiency.
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