Arrow Exploration Corp (TSE:AXL) has released an update.
Arrow Exploration Corp. has successfully initiated production from its first Ubaque horizontal well in Colombia, with the CNB HZ-1 well’s early output surpassing expectations at a restricted rate of 3,150 barrels of oil per day. With a robust cash position and no debt, the company is poised for aggressive growth as it continues its drilling program with three more horizontal wells and an exploration well planned. Arrow’s strategic advancements and conservative reservoir management indicate promising prospects for enhancing reserves and production levels.
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