Arrow Exploration announces update on exploration activity on CN-4 and CN-5 wells
March 18, 2024 at 02:30 pm EDT
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Arrow Exploration CEO Marshall Abbott joined Steve Darling from Proactive to provide an update on the company's activities on the Tapir Block in the Llanos Basin of Colombia, where Arrow holds a 50% beneficial working interest.
Abbott shared that the CN-4 well, which was spud in January, has been drilled to a total measured depth of 9,552 feet and targeted the Ubaque formation. The well was completed in the Ubaque formation, revealing 29 feet of true vertical depth net oil pay. The pay zone comprises clean sandstone with consistent properties, including 26% porosity, 5 Darcy permeability, and high resistivities throughout. Following perforation, an electric submersible pump (ESP) was installed in the well.
Additionally, Abbott disclosed that the CN-5 well was spud on February 8 to test the Carrizales Noroeste prospect and reached a total depth of 9,050 feet true vertical depth. Initial interpretation of the logging data from this well, situated to the west of the known pool boundary, indicates 45 feet of Ubaque oil pay extending to the base of sand. The reservoir exhibits consistent properties, with 25% porosity and 5 Darcy permeability. The CN-5 well's confirmation of a stratigraphic trapping mechanism in the Ubaque reservoir extending westward is expected to significantly increase the existing Ubaque oil reserves. The company anticipates completing the well for production in the coming weeks.
These developments underscore Arrow Exploration's continued progress and success in advancing its operations within the Tapir Block, enhancing its position in the Colombian oil and gas sector.
Contact Details
Proactive North America
Proactive North America
+1 604-688-8158
NA-editorial@proactiveinvestors.com
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Arrow Exploration Corp. is a Canada-based junior oil and gas company. The Company is engaged in the acquisition, exploration and development of oil and gas properties in Colombia and in Western Canada. The Company operates through two segments: Colombia and Canada. In the Llanos Basin, the Company is engaged in the exploration, development, and production of oil within the Tapir block. Its assets include Tapir Block, Santa Isabel (Oso Pardo), and Capella Field. The Company owns a 50% interest in Tapir Block with approximately 65,154 gross acres (32,577 acres net). Its Oso Pardo Field is located in the Santa Isabel Block in the Middle Magdalena Valley (MMV) Basin. The Company also owns approximately 10% interest in the Ombu Block, which contains the Capella discovery. The Capella Field produces approximately 2,250 billion barrels per day (bbl)/d (225 bbl/d net).