Arrow Exploration reports reserve growth, advances Mateguafa development
Arrow Exploration CEO Marshall Abbott joined Steve Darling from Proactive to provide an operational update and share results from the company’s 2025 year-end reserves evaluation conducted by Boury Global Energy Consultants.
The report highlights steady operational performance, with a significant portion of Arrow’s annual production successfully replaced through its 2025 drilling campaign. Management noted that the evaluation incorporates conservative oil price assumptions, which impact both valuation metrics and reserves classification.
A key factor in the reserves outlook is the status of the Tapir block contract in Colombia. The 1P reserves assume the contract expires in May 2028, while 2P and 3P reserves reflect the potential granting of one and two additional five-year extension periods, respectively. Arrow said it continues to engage with regulators and remains confident that these extensions will be approved.
Operationally, continued success at the Mateguafa Attic field is driving both production and reserve growth. The recently drilled Mateguafa 11 (M-11) well reached a total measured depth of 11,455 feet and encountered oil-bearing sands in the C7 and C9 Carbonera formations. The well intersected 18 feet of net pay in the C7 zone and 30 feet in the C9 zone.
The company plans to perforate and initially produce from the C7 formation, with first production expected in the coming weeks. Notably, M-11 encountered these zones at structurally higher positions than previous wells, extending the known Mateguafa Attic structure to the south and opening additional development opportunities.
Building on this success, Arrow plans to drill a horizontal development well, M-12Hz, targeting the C9 formation, with spudding expected by the end of March. Following this, the drilling rig will move to the Icaco pad to test the Icaco 1 exploration well.
Arrow reported current corporate production of approximately 5,325 barrels of oil equivalent per day, with further increases anticipated as M-11 comes online. Overall, the company sees continued upside across its Colombian asset base, supported by ongoing drilling success, expanding resource potential, and positive discussions regarding the Tapir license
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