Arrow Exploration Corp (TSX-V: AXL, AIM: AXL, OTC: CSTPF) is gearing up for the launch of its drilling program at the Carrizales Norte (CN) 4 well in the Tapir block, located onshore in Colombia.
The company has announced the initiation of the setup process for the Petroworks 1500-horsepower drilling rig, with drilling anticipated to begin towards the end of January.
This will be followed by the drilling of the CN-5 well, which is slated to commence in February.
In addition, Arrow is advancing preparations for its inaugural horizontal wells at the Carrizales Norte field. This includes the ongoing construction of a new well pad, designated as the B Pad, which is expected to be operational by March.
The B Pad is set to accommodate the CN HZ-1 well and potentially additional horizontal wells in the future.
Furthermore, Arrow has commenced enhancements to the Mateguafa pad within the Tapir block. This includes the construction of the Baquiano road and pad.
The first well at Mateguafa, named MA-1, is planned to be drilled towards the end of the first quarter or at the beginning of the second quarter. The drilling of the Baquiano prospect is scheduled for later in the year.
In the Middle Magdalena Valley Basin, the Oso Pardo-1 (OP-1) well has resumed production. Concurrently, completion operations are in progress for the Oso Pardo-3 (OP-3) and Oso Pardo-4 (OP-4) development wells, with well-stimulation activities expected to take place in the first quarter.
