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Arrow Exploration Corp ( (TSE:AXL) ) just unveiled an announcement.
Arrow Exploration Corp. has announced an update on its operations in the Alberta Llanos field in Colombia, where it holds a 50 percent interest. The company has resumed production at the AB-1 well and is planning further development with horizontal wells based on promising results from the AB-3 well. The AB-3 well has confirmed the potential for horizontal development, producing 580 barrels of oil per day with an expected payout in five months. Arrow’s production exceeded forecasts in January, and additional drilling operations are planned for the first quarter. The company is also progressing with the East Tapir 3D seismic program, which is expected to add significant value.
More about Arrow Exploration Corp
Arrow Exploration Corp. is a publicly traded company with a focus on expanding oil production in Colombia. It operates through its wholly-owned subsidiary Carrao Energy S.A. and holds a portfolio of underexploited and high-potential oil assets across key Colombian basins, including the Llanos, Middle Magdalena Valley, and Putumayo Basin. The company benefits from Brent-linked light oil pricing and low royalties, aiming for high potential operating margins.
YTD Price Performance: -9.78%
Average Trading Volume: 98,799
Technical Sentiment Consensus Rating: Hold
Current Market Cap: C$118.6M
Find detailed analytics on AXL stock on TipRanks’ Stock Analysis page.
