Mar 29, 2023
Exploring the untapped potential of Colombia's energy sector with Arrow Exploration Corp.
- Arrow Exploration provides investors with exposure to high-impact oil exploration within low-risk development drilling environments with Brent oil pricing
- To date, the company has high working interest land and organic growth opportunities over 65,000 acres of oil-producing land in Colombia's Llanos Basin
With a solid Colombian footprint, Arrow Exploration Corp. (TSXV:AXL) has a portfolio of premier oil assets that promise high-potential growth — making them one of this year’s TSX Venture 50 winners.
Arrow is a promising oil and gas firm with a focus on growth in the revitalized oil and gas industry. The company operates in Colombia and Western Canada, where it acquires, explores, and develops oil and gas properties. Arrow possesses a top-tier, self-sustaining collection of unexplored, high-potential Colombian oil assets.
The global oil and gas market grew from just under $7 trillion in 2022 to $7.3 trillion in 2023 at a compound annual growth rate (CAGR) of 4.9%. Arrow Exploration strives to profit from this rising oil demand by growing its production from a diversified portfolio of assets.
The company is currently operating in producing assets focused on the Llanos Basin and Middle Magdalena Valley (MMV) Basin in Colombia. Here are some highlights:
Tapir Block – Production at Rio Cravo Este (RCE) and Exploration at Carrizales Norte
- Beneficial 50% working interest with 65,154 gross acres (32,577 acres net)
- 2020 year-end 3P reserves of 3.9 MMbbls (gross) / 1.9 MMbbls (net to Arrow’s W.I.)
- A series of oil fields lie primarily to the southeast along a similar fault trend with a combined 38.5 MMbbls produced as of the end of 2020
- Had not been explored in over 20 years due to historic fiscal terms, which are now significantly improved
Oso Pardo (100% W.I.) – Middle Magdalena Valley Basin
- Discovered in 2013 by Canacol; discovery well (Oso Pardo-1) had an IP of 200 bbls/d from stacked sands of the Umir formation
- 2 appraisal wells drilled in 2014; 150 ft proven oil column to Lowest Known Oil (LKO)
- Accordionero (2P reserves of 66 MMbbls; current average production of 16,000 boe/d) located 25 km to south-east
- Arrow’s Morsa-1, OP-1 and OP-2 wells re-started in June 2021 at ~ 440 bbls/d
- With a diversified portfolio of assets with high potential for growth, Arrow Exploration is well-positioned to achieve its long-term growth goals. The company's commitment to safety, environmental stewardship, and community engagement further reinforces its dedication to responsible and sustainable operations.
To learn more about Arrow Exploration Corp., visit their website here.
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The 2023 TSX Venture 50 is a ranking of top performers on TSX Venture Exchange over the last year. The ranking is composed of 10 companies from each of the five industry sectors and are selected based on three equally weighted criteria: market capitalization growth, share price appreciation and trading volume.
For the full 2023 TSX Venture 50 ranking, methodology and profile videos of companies included in the ranking, visit: www.tsx.com/venture50