Arrow Exploration reports 2025 reserves, drilling update
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try{ var _=i o; . if(!_||_&&typeof _==="object"&&_.expiry Gold slides on bets for higher interest rates for longer amid raging Iran war Stocks end lower in choppy session after Netanyahu says Iran can’t enrich uranium Ed Yardeni sees risk to his bullish gold target as prices lag expectations Oil reverses course, but Brent still hovering near highest level since July 2022 (South Africa Philippines Nigeria) Arrow Exploration reports 2025 reserves, drilling update By Company News Published 03/20/2026, 03:24 AM Arrow Exploration reports 2025 reserves, drilling update 0 AXL -3.57% CALGARY - Arrow Exploration Corp. (AIM:AXL; TSXV:AXL) reported Thursday its 2025 year-end reserves evaluation and provided an operational update on its Colombian drilling activities. The company’s Mateguafa 11 well reached a total measured depth of 11,455 feet and encountered oil-bearing sands with 18 feet of net pay in the C7 formation and 30 feet in the C9 formation, according to a press release statement. The well is expected to begin production in the coming weeks. Arrow plans to drill a horizontal well targeting the C9 formation at Mateguafa, with spudding expected by the end of March. The rig will subsequently move to drill the Icaco 1 exploration well. Current corporate production stands at approximately 5,325 barrels of oil equivalent per day. The company continues discussions with regulatory authorities regarding the Tapir license extension. The 2025 reserves evaluation by Boury Global Energy Consultants Ltd. showed total proved reserves of 5,415 thousand barrels of oil equivalent, down 7% from 5,805 Mboe at year-end 2024. Proved plus probable reserves decreased 14% to 11,775 Mboe from 13,618 Mboe. The reserves report assumes the Tapir block expires with its contract in February 2028 for proved reserves calculations, with probable and possible reserves assuming first and second five-year extension periods respectively. Net present value at 10% before tax for proved reserves totaled $95...
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