Arrow Exploration Corp. (AIM: AXL; TSXV: AXL), a high-growth operator with a diverse portfolio of assets in key Colombian hydrocarbon basins, announces that it has initiated drilling of the Carrizales Norte-1 (“CN-1”) well on the Tapir Block in the Llanos Basin of Colombia using the contracted Petroworks rig.
The well aims to target a sizeable, three-way fault-bounded structure containing multiple high-quality reservoir objectives. The well will be drilled to a measured depth of 9,205 feet (8,555 feet True Vertical Depth).
Marshall Abbott, CEO of Arrow, remarked, “We are delighted to commence drilling the first well at Carrizales Norte on the Tapir Block. The success of this well could lead to increased production, additional reserves, and a new core area for Arrow. If CN-1 proves to be commercially viable, the rig will immediately move to drill CN-2, which is anticipated to begin in early June.”
The CN-1 well’s drilling is expected to reach the target depth by mid-May, followed by completion and testing. Testing is estimated to take roughly five days per zone.
The Company will continue to share further updates on the CN-1 well as necessary.
