Arrow Exploration Corp (TSE:AXL) has released an update.
Arrow Exploration Corp. reports exceptional performance from their third horizontal well, CNB HZ-4, which is outperforming expectations with a production rate over 2,500 BOPD gross. Alongside this, their Q2 2024 results show significant financial growth with $15.1 million in oil and natural gas revenue, marking a 47% increase compared to Q2 2023, and a net income of $1.2 million. The company maintains a strong cash position of $12 million with no debt, and plans to continue its capital program by drilling additional horizontal wells and a low-risk exploration well at the Chorreron prospect.
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