AXL - Arrow Exploration sees major milestone with CN-3 well fueling future growth prospects
(NewsDirect)
Arrow Exploration CEO Marshall Abbottjoined Steve Darling from Proactive to share an exciting update on thedrilling of the CN-3 Well.
Theresults from this drilling endeavour represent a significant milestonefor the company.
The CN-3 Well wasdrilled to a total measured depth of 9,260 feet, with a true verticaldepth of 8,633 feet. During the drilling process, multiplehydrocarbon-bearing intervals were encountered within the C7, Gacheta,and Ubaque formations.
Abbottshared with Proactive that the CN-3 Well made two substantialdiscoveries within the Ubaque formation, with a total vertical depthof 67 feet. These oil pay zones exhibited exceptional characteristics,similar to those found in the CN-1 and CN-2 Wells.
These findings further confirm thesubstantial potential of the Ubaque formation within the CarrizalesNorte field. Additionally, the well encountered 23 feet of pay in theC7 formation and 59 feet of pay in the Lower Gacheta formations.
The Lower Ubaque zone, whichinitially underwent testing, revealed approximately 50 feet of net oilpay with favorable attributes such as an average porosity of 26% andan estimated permeability of four Darcies. The well initially testedat an impressive 593 barrels of oil per day (BOPD) gross initialproduction with a 30% water cut. However, on the 11th day of testing,the water cut increased, and the lower Ubaque test was completed.
After CN-3 is in full production,the drilling rig will be relocated to the RCE field, where ArrowExploration plans to further exploit the multi-zone RCE structure.This involves drilling two dedicated Gacheta wells and following up onthe RCE-6 C7 producer. Subsequently, the drilling rig will return tothe CN field to drill additional Ubaque-targeted wells.
ArrowExploration's ongoing success and exploration efforts underscoreits commitment to harnessing the vast potential of these fields,positioning the company for continued growth and success in the oiland gas sector.
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ProactiveCanada
+1 604-688-8158
na-editorial@proactiveinvestors.com
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