Arrow Exploration Corp. (LSE:AXL) has reported strong initial production results from the newly drilled Mateguafa HZ7 well in Colombia’s Llanos Basin, with the well brought on stream on schedule and within budget.
Early production from HZ7 averaged 1,694 barrels of oil per day on a gross basis, exceeding management expectations. The oil produced is light, with an API gravity of 30.6°, and has shown a very low water cut, supporting the quality and commercial potential of the reservoir. These results further validate the Mateguafa Attic area as an emerging core asset within Arrow’s portfolio.
Building on this success, the company plans to drill additional horizontal and vertical wells in the area as part of its ongoing development programme. Management said the performance at HZ7 underlines Arrow’s broader growth strategy and strengthens its positioning as it continues to scale production across its Colombian assets.
More about Arrow Exploration Corp
Arrow Exploration Corp. is an oil and gas production company operating in Colombia through its wholly owned subsidiary, Carrao Energy S.A. The group holds interests across several prolific basins, including Llanos, Middle Magdalena Valley, and Putumayo, and focuses on expanding production while benefiting from Brent-linked light oil pricing, low royalty rates, and high working interests to deliver attractive operating margins.
Leave a Reply