Arrow Exploration Corp (TSE:AXL) has released an update.
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Arrow Exploration Corp. has reported promising outcomes from its second Ubaque horizontal well, CNB HZ-3, in Colombia’s Llanos Basin, with production exceeding expectations at 3,038 barrels of oil per day. Additionally, the company’s successful CNB HZ-1 well continues to perform strongly, and Arrow maintains a robust financial position with a cash reserve of $11 million and no debt. The firm is also advancing its drilling program with more horizontal wells planned, underscoring its commitment to growing reserves and production from the prolific Ubaque formation.
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