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The latest update is out from Arrow Exploration Corp ( (TSE:AXL) ).
Arrow Exploration Corp. has announced an operational update highlighting the successful production from two horizontal wells, AB HZ4 and AB HZ5, in the Alberta Llanos field, contributing to a total corporate production of 4,600 to 4,800 boe/d net. The company maintains a strong financial position with no debt and a cash balance of $13.5 million, allowing flexibility in its drilling program and exploration activities. The recent drilling success supports further development plans, and the company is actively reviewing its drilling schedule to adapt to market conditions and enhance production growth.
More about Arrow Exploration Corp
Arrow Exploration Corp. is a publicly traded company engaged in the oil industry, operating primarily in Colombia through its subsidiary Carrao Energy S.A. The company focuses on expanding oil production from key Colombian basins, including the Llanos, Middle Magdalena Valley, and Putumayo Basin. Arrow Exploration holds a significant interest in these assets, which are linked to Brent light oil pricing and low royalties, offering potential for high operating margins.
For an in-depth examination of AXL stock, go to TipRanks’ Overview page.