Arrow Exploration, the high-growth operator with a portfolio of assets across key Colombian and Canadian hydrocarbon basins, has announced the filing of its Interim Condensed (unaudited) Consolidated Financial Statements and Management's Discussion and Analysis ('MD&A') for the three months ended June 30, 2026, which are available on SEDAR (www.sedar.com) and will also be available shortly on Arrow's website at www.arrowexploration.ca.
Q2 2026 Highlights:
- Recorded $34.2 million of total oil and natural gas revenue, net of royalties, representing a 116% increase when compared to the same period in 2025 (Q2 2025: $15.9 million).
- Average corporate production of 4,902 boe/d representing a 30% increase when compared to the same period in 2025 (Q2 2025: 3,768 boe/d).
- Adjusted EBITDA(1) of $25.1 million, a 300% increase when compared to the same period in 2025 (Q2 2025: $6.3 million).
- Realized corporate operating netbacks(1) of $63.42/boe.
- Cash position of $28.5 million at the end of Q2 2026 and no debt.
- Q2 2026 operating cashflows of $15.7 million.
- Drilled one successful exploration well and two additional development wells in the Icaco field (IC) and one horizontal development well in the Mateguafa Attic field in the Tapir block
- Net income of $10.4 million (Q2 2025: loss of 0.9 million)
(1)Non-IFRS measures - see 'Non-IFRS Measures' section below
Post Period End Highlights:
- Drilled two development wells, and spudded a third, at the Icaco field
- Completed the acquisition of the Thorsby field in Alberta, Canada adding production, proved reserves and additional upside opportunities for development drilling (please refer to press release dated August 13, 2026 for more details).
- Recompleted two Carrizales Norte wells to increase production
Tapir Extension
The Company continues constructive engagement with authorities regarding the Tapir block extension and believes it is well positioned to secure the extension based on satisfaction all of the relevant requirements. Arrow will keep the market updated on progress with its license extension discussions in future releases.
Marshall Abbott, CEO of Arrow Exploration Corp., commented:
'The second quarter of 2026 has been very productive for Arrow, our best quarter yet. The discovery of the Icaco field has resulted in the beginning of a large development plan. The multi-formation discovery will result in additional reserves and drilling inventory for Arrow. We are excited by the Icaco discovery; it has become a major production platform with a material impact on the Company.'
'Arrow significantly increased revenue and EBITDA while sustaining increased production, which, along with a robust balance sheet, supports the ongoing capital program. The focus for the remainder of 2026 will be to drill additional wells at the Icaco pad, and numerous well recompletions to improve productivity in our currently most prolific fields.'
Source: Arrow Exploration
