AXL - Arrow Exploration says CN-2 Well results exceeds company expectations
(NewsDirect)
Arrow Exploration CEO Marshall Abbottjoined Steve Darling from Proactive with an update on the operationalactivity at the Carrizales Norte (CN-2) field on the Tapir Block inthe Llanos Basin of Colombia, where Arrow holds a 50% beneficialinterest.
The CN-2 well was spud onJune 15, 2023, and successfully reached target depth on June 23, 2023.During drilling, the well encountered multiple hydrocarbon-bearingintervals. After completing testing, it was found that the CN-2 wellin the Ubaque formation has approximately 60 feet of net oil pay. TheUbaque formation is a clean sandstone with consistent characteristics,exhibiting 26% porosity, four Darcy permeability, and highresistivities from the top of the sand to the base of the sand.
Following the successful testing, anelectric submersible pump was installed in the well after perforatingthe formation. The log responses from the Ubaque formation in bothCN-1 and CN-2 wells were very similar, which led the company to makethe decision to proceed directly to perforation and well production ofthe Ubaque in CN-2. This has provided valuable insights for thecompany regarding drilling targets and potential re-completionopportunities in the future.
Arrow Exploration is eagerlyawaiting the results from the CN-3 well, which will provide crucialinformation to determine the size of the pools in the field and thepotential reserves additions. The successful progress in the CN-2 wellis seen as a positive indicator for the company's ongoingoperations and future prospects in the region.
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