Northwire Canada EditionTuesday, July 14, 2026
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WDO 26.04 −0.9% FVI 11.84 −1.6% OM 1.75 −1.7% ETG 2.99 +0.0% ARTG 31.47 −4.6% LUC 0.163 +1.6% AFM 1.38 +0.0% IMG 20.95 −3.5% CPAU 0.150 +3.5% MMX 0.075 +7.1% IE 12.47 −2.4% SASK 1.09 −1.8% MOG 0.390 +2.6% XIM 0.070 −6.7% S 0.110 −29.0% OMI 0.300 −4.8% WDO 26.04 −0.9% FVI 11.84 −1.6% OM 1.75 −1.7% ETG 2.99 +0.0% ARTG 31.47 −4.6% LUC 0.163 +1.6% AFM 1.38 +0.0% IMG 20.95 −3.5% CPAU 0.150 +3.5% MMX 0.075 +7.1% IE 12.47 −2.4% SASK 1.09 −1.8% MOG 0.390 +2.6% XIM 0.070 −6.7% S 0.110 −29.0% OMI 0.300 −4.8%
Production / Operations Routine +

Arrow Announces Appraisal Wells M-11 Results

By The Northwire Desk — AI Analysis Apr 01, 2026 · 02:01 AXL · 0.405 Arrow Exploration Corp.
AXL · Price

Executive Summary

  • Arrow Exploration reported first‑day production from the newly spudded Mateguafa 11 (M‑11) well, delivering ~784 BOPD gross (392 BOPD net) at 31.5° API with a 25% water cut.
  • The company disclosed total corporate output of approximately 5,475 boe/d and a cash balance of US$6.4 million, with no debt on hand.
  • Arrow received regulator approval to terminate the COR‑39 E&P contract, eliminating a $12 million exploration commitment at no penalty, and is actively pursuing an extension of the Tapir block.

Key Details

  • Mateguafa 11 (M‑11) Well
  • Spud: March 9 2026; reached target depth March 15 2026.
  • Measured depth: 11,455 MD ft (9,328 TVD ft).
  • Production start: March 22 2026 (C7 formation) – net oil pay ~18 ft, porosity 22%, ESP installed.
  • Initial rate: ~784 BOPD gross (392 BOPD net), 31.5° API, 25% water cut; restricted choke (32/128) and pump frequency (33 Hz).

  • Additional interval: ~30 ft net oil pay in C9 formation – future testing planned.

  • Mateguafa HZ12 Well

  • Spud: March 27 2026; production expected in April 2026.

  • Current Pad Production (all wells)

  • M‑11: 784 BOPD gross / 392 BOPD net – 25% water cut (C7).
  • M‑10: 538 BOPD gross / 269 BOPD net – 45% water cut (C7).
  • HZ9: 1,386 BOPD gross / 693 BOPD net – 50% water cut (C9).
  • HZ7: 2,016 BOPD gross / 1,008 BOPD net – 36% water cut (C9).
  • M‑6: 250 BOPD gross / 125 BOPD net – 48% water cut (C7).

  • M‑5: 484 BOPD gross / 242 BOPD net – 82% water cut (C9).

  • Forward Drilling Plans

  • After completing M‑HZ12, rig will move to newly finished Icaco pad for an exploration well slated to spud in May 2026.

  • Corporate Production & Financials

  • Total corporate production (including restricted M‑11 output): ≈5,475 boe/d.

  • Cash balance as of March 1 2026: US$6.4 million; no debt outstanding.

  • Tapir Block Extension

  • Ongoing constructive discussions with Colombian authorities; management confident extension requirements have been met.

  • Block COR‑39 Termination

  • ANH approved mutual termination on March 20 2026, removing a $12 million exploration commitment without penalty.

Notable Quotes

“The continued success of the Mateguafa wells reinforces the materiality of the Mateguafa field to Arrow.” – Marshall Abbott, CEO

“After drilling and putting the M‑HZ12 well on production, Arrow plans to move the rig to the newly finished Icaco pad… we believe the Icaco prospect will also result in a material discovery for Arrow.” – Marshall Abbott, CEO

Read the original news release →

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