Arrow Exploration Corp V.AXL

Alternate Symbol(s): CSTPF

Energy Oil & Gas E&P

Arrow Exploration Corp. is a junior oil and gas company engaged in the acquisition, exploration and development of oil and gas properties in Colombia and Western Canada. The Company operates in Colombia via a branch of its wholly owned subsidiary Carrao Energy S.A., with a portfolio of Colombian oil assets that are underexploited and under-explored. It focuses on expanding oil production from Colombia's active basins, including the Llanos, Middle Magdalena Valley (MMV) and Putumayo Basin. Its assets include Tapir Block, Santa Isabel (Oso Pardo), Capella Field, Pepper, and Fir. The Company owns a 50% working interest (WI) in Tapir Block with approximately 65,154 gross acres (32,577 acres net). The Oso Pardo Field is located in the Santa Isabel Block in the MMV Basin. Its 10% interest in the Ombu Block contains the Capella discovery. The Company holds a 100% operated WI in 37 sections of Montney P&NG rights on its Pepper asset in West Central Alberta.

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Arrow Exploration Corp

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Post by Charts1on Dec 17, 2024 9:52am

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Post# 36366023

AXL.V Q3 16M CASH AND NO DEBT. IN ALBERTA

Q3 2024 Highlights:

The strongest quarter in Arrow's history for production, revenue, EBITDA and cash flow.
Successfully drilled the first three horizontal development wells in the Carrizales Norte (CN) field.
Recorded $21.3 million of total oil and natural gas revenue, net of royalties, representing a 53% increase when compared to the same period in 2023 (Q3 2023: $13.9 million).
Net income of $6.7 million.
Adjusted EBITDA(1) of $15.9 million, a 62% increase when compared to 2023 (Q3 2023: $9.8 million) and a 79% increase compared to Q2 2024 ($8.9 million).
Average corporate production of 4,124 boe/d (Q3 2023: 2,518 boe/d).
Realized corporate oil operating netbacks(1) of $50.76/bbl.
Cash position of $16.5 million at the end of Q3 2024.
Generated operating cashflows of $29.2 million for the nine months ended September 30, 2024 (2023: $13.9 million).