Arrow Exploration is positioning to become a leading independent oil producer in Colombia

Arrow Exploration Corp is a publicly-traded company with a portfolio of premier Colombian oil assets that are under-exploited, under-explored and offer high potential growth. The company's business plan is to expand oil production from some of Colombia's most active basins, including the Llanos, Middle Magdalena Valley (MMV) and Putumayo Basin. The asset base is predominantly operated with high working interests, and the Brent-linked light oil pricing exposure combines with low royalties to yield attractive potential operating margins. Arrow's 50% interest in the Tapir Block is contingent on the assignment by Ecopetrol SA of such interest to Arrow.

Arrow Exploration Corp (TSX-V:AXL, AIM:AXL, OTC:CSTPF) said gross corporate production has risen above 5,000 barrels of oil equivalent per day after three new Icaco wells entered production on the Tapir Block in Colombia.

The strongest initial contribution came from IC-HZ5, which is producing 1,270 barrels of oil per day gross, or 635 bopd net to Arrow, from the Ubaque formation while the well continues to clean up. The horizontal well was drilled on time and under budget and also encountered around 20 feet of net oil pay in the C7 formation.

Vertical well IC-3 is producing around 250 bopd gross, 125 bopd net, at a restricted rate from the Gacheta after encountering 50 feet of combined net pay across three formations. IC-HZ4, meanwhile, is producing 150 bopd gross after water reduced output from a peak of 799 bopd, with Arrow assessing ways to improve oil production efficiency.

Arrow, which has a 50% beneficial interest in Tapir, estimated its cash balance at US$27.5 million as of 1 August and remains debt-free. Five further drilling cellars have been constructed at Icaco, with IC-6 planned as a vertical well targeting the C7, Gacheta and Ubaque formations.

Arrow Exploration Corp (TSX-V:AXL, AIM:AXL, OTC:CSTPF) said its Icaco-2 exploration well in Colombia has been drilled, completed and brought on production, adding restricted output of around 830 barrels of oil per day gross from the Ubaque formation.

The AIM and TSX-V-listed company said IC-2 was drilled on time and under budget to a total measured depth of 12,020 feet. Log analysis showed 100 feet of total net pay, comprising 19.5 feet in the Carbonera C7 formation, six feet in the Gacheta and 74.5 feet in the Ubaque.

Arrow Exploration Corp (TSX-V:AXL, AIM:AXL, OTC:CSTPF) said first-quarter production, revenue and earnings rose as higher output from Colombia’s Tapir block underpinned a stronger start to 2026, before a post-period exploration discovery at Icaco added a fresh drilling catalyst.

Average production increased to 4,715 barrels of oil equivalent per day from 4,085 boe/d a year earlier, driven by additional crude volumes from the Mateguafa Attic field. Revenue net of royalties rose 21% to US$23.5 million, while adjusted EBITDA climbed 22% to US$14.1 million.

Arrow Exploration Corp (TSX-V:AXL, AIM:AXL, OTC:CSTPF) has delivered another strong operational update, with Zeus Capital highlighting the successful result from the company’s M-H7 horizontal well at the Mateguafa Attic discovery in Colombia as a material positive for production and cash flow momentum.

The broker notes that M-H7 intersected an unusually long 4,053 feet of horizontal oil pay in the C9 formation and has already been brought onstream at a restricted gross rate of 1,694 barrels per day, with a low 4% water cut.

Zeus describes this as an encouraging outcome for Arrow’s first horizontal well at Mateguafa Attic, underlining the proven economics of similar horizontal wells on the Tapir licence, which have historically paid back in as little as three months.

Arrow Exploration CEO Marshall Abbott joined Steve Darling from Proactive to share a record-breaking Q3 performance and detailed plans for continued growth in 2025. The company achieved its strongest quarter ever in production, revenue, EBITDA, and cash flow. The company saw total revenue of $21.3 million, a 53% increase from Q3 2023. Net income of $6.7 million and adjusted EBITDA of $15.9 million, up 62% from Q3 2023 and 79% from Q2 2024.

Operating cash flow of $29.2 million for the nine months ending September 30, 2024 and a cash position of $16.5 million at the end of the quarter. Operationally, abbott told Proactive the company successfully drilled three horizontal development wells at the Carrizales Norte (CN) field, contributing significantly to these results. The company plans further activity at the Alberta Llanos prospect, starting with a low-risk vertical exploration well targeting multiple formations.