- Arrow Exploration (TSXV:AXL) reached record production of 6,000 barrels of oil equivalent per day.
- The company is advancing a portfolio of Canadian and Colombian oil and natural gas assets that combine underexploration with high-growth potential.
- Arrow Exploration stock has added 137.50 per cent year-over-year and 470 per cent since 2021.
Arrow Exploration (TSXV:AXL), a micro-cap producer in Canada and Colombia, reached record production of 6,000 barrels of oil equivalent per day (boe/d), reflecting strategic drilling, strong workover results, as well as the recently acquired Thorsby field in Alberta.
This article is a journalistic opinion piece which has been written based on independent research. It is intended to inform investors and should not be taken as a recommendation or financial advice.
According to Friday’s news release, the company has an abundance of prospects at its disposal and is well-capitalized to test them, holding about US$21.8 million in cash, granting leadership confidence about growing production into the future.
Recent milestones include the spudding of the Icaco 6 well on August 19th on the Tapir Block in Colombia’s Llanos Basin, where Arrow holds a 50% interest, which was turned into a water disposal well to reduce operating costs.
The Icaco 7 well, for its part, was spud on September 1st to further capitalize on the robust C7, Gacheta and Ubaque targets.
The news follows a profitable Q2 2026, which saw Arrow collect US$10.4 million in net income, up from a US$0.9 million loss year-over-year, while more than doubling revenue to US$34.2 million, with a full slate of wells to be drilled through the end of the year.
Leadership commentary
“Arrow is very proud to surpass the 6,000 boe/d threshold. The additional production from drilling and workovers highlights the continued operational success the company has had on the Tapir block. The multi-zone quality of the Icaco discovery, and its commensurate production rates, have surpassed initial expectations. Arrow is building another five cellars on the Icaco pad, bringing the total number to fifteen, to continue drilling C7, Gacheta and Ubaque wells,” Marshall Abbott, Chief Executive Officer of Arrow Exploration, said in a statement.
“The best production wells in the Icaco block have paid out in less than 2 months and production continues to be strong from these wells. The company continues to experience strong netbacks. This adds significant value and materially strengthens our balance sheet. We look forward to updating our shareholders on further progress at Icaco over the coming months,” Abbott added.
About Arrow Exploration
Arrow Exploration is advancing a portfolio of Canadian and Colombian oil and natural gas assets that combine underexploration with high-growth potential.
Arrow Exploration stock (TSXV:AXL) opened with a 3.39 per cent loss trading at C$0.57. The stock has added 137.50 per cent year-over-year and 470 per cent since 2021.
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