Arrow Exploration starts production at new Colombian well, adding 564 barrels per day.

Arrow Exploration Corp has begun production at its new Mateguafa HZ12 well in Colombia, contributing a restricted output of 564 barrels of oil per day. The well was drilled on time and under budget, reaching a depth of 13,824 feet and encountering multiple oil-bearing zones. Initial testing showed a maximum rate of 668 barrels per day before settling at the current rate, producing 32° API oil with a 60% water cut. This addition brings Arrow's total gross production to around 5,000 barrels of oil equivalent per day. The company has moved its rig to a new site to continue exploration and holds $24.2 million in cash with no debt as of May 1.