Arrow Exploration, the high-growth operator with a portfolio of assets across key Colombian hydrocarbon basins, has provided an operations update.
Carrizales Norte Update
The Petroworks 1,500-horsepower rig has arrived at the Carrizales Norte (CN) field in the Tapir block and is currently being erected. Arrow expects the CN-4 well, targeting the Ubaque formation at CN, will spud in the latter half of January.
CN-4 will be followed by CN-5 which will test the Carrizales Noroeste prospect. The CN-5 well is expected to spud in February. Following CN-5, the Petroworks 1,500 horsepower rig will remain at the CN pad and continue development of the CN field targeting the C7 formation.
Arrow is currently constructing the CN horizontal well pad (B Pad) and expects construction will be completed in March. Once the pad is complete the Company plans to bring in a 2,000-horsepower rig to drill the Company's first horizontal well (CN HZ-1). On success, Arrow plans to follow the first well up with additional horizontal wells from the B Pad.
Mateguafa Attic and Baquiano Updates
Work has begun upgrading the Mateguafa pad and construction of the Baquiano road and pad, both of which are located in the Tapir block.
The plan is for the first Mateguafa Attic well (MA-1) to spud in late Q1 or early Q2 using an additional 1,500 horsepower rig. The Company expects the Baquiano prospect to be drilled later in 2024.
Oso Pardo
Oso Pardo-1 (OP-1), on the Santa Isabel Block in the Middle Magdalena Valley Basin of Colombia, where Arrow has a 100 per cent working interest, is back on production after the pump was changed in late December. The Oso Pardo-3 (OP-3) and Oso Pardo-4 (OP-4) development wells were both drilled successfully targeting the Umir formation. The completion of these wells is pending well stimulation operations, to mitigate typical skin damage, which the Company plans to complete in Q1.
For additional info, see Arrow's latest Corporate Presentation (DEC 2023)
Source: Arrow Exploration
