Arrow announces exploration well AB-1 results
Arrow’s AB-1 well was spud on 30 November 2024, and reached target depth on 13 December 2024. AB-1 was the first well drilled into the Alberta Llanos field and results from this well have confirmed the productive potential of the multi-pool field. The well was drilled to a total measured depth of 9960 MD ft (8846 ft true vertical depth) and encountered multiple hydrocarbon-bearing intervals.
On 24 December, Arrow put the AB-1 well on production in the Ubaque formation which has approximately 62 feet of net oil pay. The pay zone is a clean sandstone exhibiting an average porosity of 25% with high resistivities. An electric submersible pump (ESP) was inserted in the well after perforating.
The well was put on production to allow the well to clean-up and conduct proper water cut evaluation. Currently, the well is operating at a pump frequency of 33 Hz and a choke aperture of 34/128. Average initial production for the first seven days was 658 bpd gross (329 bpd net) of 13.8° API oil with a 49% water cut (completion fluid and formation water).
These results are in line with expectations. Initial production results are not necessarily indicative of long-term performance or ultimate recovery.
The AB-2 well was spud on 25 December 2024 and reached target depth of 10 795 MD feet on 1 January 2025. Logs and potential productive sands are being evaluated. AB-3 will be drilled immediately upon completion of the AB-2 well.
Total corporate peak production in December, inclusive of contribution from AB1, was 5175 boe/d with an average for the month of 4899 boe/d, in line with the Company’s expectations.
The East Tapir 3D seismic acquisition program is progressing on schedule with camps and equipment being mobilized to the field. The Company expects that the seismic shoot will begin in March.
