Arrow Exploration (LSE:AXL) has reported higher production at the Mateguafa Attic field within Colombia’s Tapir block after successfully drilling and bringing online the M-10 vertical well and the M-9HZ horizontal appraisal well. Both wells are currently producing at restricted rates but have demonstrated the potential to deliver higher output as operations are further optimised.
The company is also advancing infrastructure improvements across the field, including converting the M-8 well into a water disposal facility to support ongoing development activity. Production from previously drilled Mateguafa wells remains strong, while additional drilling is planned at the M-11 location and at the Icaco exploration prospect. Arrow reported cash reserves of approximately US$7.2 million with no outstanding debt and confirmed ongoing constructive discussions regarding a potential extension of the Tapir block licence, highlighting the asset’s increasing importance within its Colombian growth strategy.
More about Arrow Exploration Corp
Arrow Exploration Corp. is a publicly listed oil and gas company focused on developing underexploited, high-growth light oil assets across Colombia’s Llanos, Middle Magdalena Valley and Putumayo basins. The company operates a predominantly operated portfolio with high working interests, Brent-linked pricing exposure and relatively low royalty structures, and holds entitlement to 50% of production from the Tapir block, subject to approval from Ecopetrol.
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