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Arrow Exploration Corp ( (TSE:AXL) ) has shared an update.
Arrow Exploration Corp. has announced an operational update highlighting significant developments in its Tapir Block operations in the Llanos Basin, Colombia. The company has successfully drilled two horizontal wells, CN HZ9 and CN HZ10, with the latter producing 1,183 BOPD gross. Arrow’s production has surpassed 4,500 boe/d, and the company maintains a strong balance sheet with over $25 million in cash and no debt. Arrow’s strategic flexibility allows it to prioritize low-risk drilling and potential acquisitions amidst market volatility, positioning it well for future growth.
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 the exploration and production of hydrocarbons, with a significant presence in the Llanos Basin of Colombia.
YTD Price Performance: -36.96%
Average Trading Volume: 153,990
Technical Sentiment Signal: Strong Buy
Current Market Cap: C$90.05M
See more insights into AXL stock on TipRanks’ Stock Analysis page.