Arrow Exploration Corp. (LSE:AXL) delivered a record second-quarter performance in 2026, supported by rising production from its Colombian operations, stronger realised oil prices and continued development activity across its portfolio.
Total oil and natural gas revenue, net of royalties, increased 116% year on year to $34.2 million, while average production advanced 30% to 4,902 barrels of oil equivalent per day.
The stronger operating performance translated into adjusted EBITDA of $25.1 million. Arrow also recorded net income of $10.4 million, reversing a loss in the corresponding period last year, while benefiting from improved operating netbacks and higher realised crude prices.
The company’s financial position remained robust at the end of the quarter, with cash of $28.5 million and no debt, providing additional flexibility to fund its ongoing exploration and development programme.
Operational growth was driven by additional volumes from Mateguafa Attic and the recently developed Icaco field on the Tapir block in Colombia. Arrow completed one exploration well and multiple development wells at Icaco during the period, alongside recompletion work at Carrizales Norte.
Activity has continued following the quarter end. Arrow expanded its Canadian portfolio through the acquisition of the Thorsby field in Alberta, adding another producing asset to its operations outside Colombia.
The company is also progressing discussions regarding an extension of the Tapir block licence. Further drilling and recompletion activity is planned as Arrow looks to build reserves, increase production and strengthen future cash generation.
With a debt-free balance sheet, growing production base and an active development programme, Arrow continues to pursue expansion across both Colombia and Canada as it seeks to maintain its growth momentum.
More about Arrow Exploration Corp.
Arrow Exploration Corp. is an oil and gas exploration and production company with a portfolio of hydrocarbon assets in Colombia and Canada.
Its Colombian operations include producing and development assets such as Mateguafa Attic and Icaco within the Tapir block, where the company continues to pursue exploration, development drilling and recompletion opportunities.
Arrow also maintains operations in Alberta, Canada, including its recently acquired Thorsby field. The company’s strategy is focused on expanding production, reserves and cash flow through disciplined development of its existing portfolio and selective acquisitions.
Leave a Reply