A record output milestone came alongside an admission that one Colombian well had to be repurposed after drilling trouble.
Arrow Exploration (AIM: AXL) has pushed total production past 6,000 barrels of oil equivalent a day for the first time, a record the company attributed to drilling successes, well workovers and its newly acquired Thorsby field in Alberta, Canada.
The milestone comes despite a setback at the IC-6 well in Colombia's Icaco field, where drillers hit a fault and suffered mud losses before reaching target depth, forcing the company to case the well early and convert it into a water-disposal facility instead.
Arrow said the water-disposal conversion, while short of the original plan, would still add value by boosting disposal capacity and cutting operating costs, and the well had already found net pay in two formations before work stopped short of its deeper targets. Drilling has since moved to the next well, IC-7, spudded on 1 September and designed to test three separate formations.
The Thorsby acquisition, completed for US$8.9m, has already contributed to the production record and left Arrow with an estimated cash balance of US$21.8m at the start of September, giving the company headroom to keep drilling across its Colombian and Canadian assets.
Shares in Arrow have risen 120% since the start of 2026, and the record output announcement extends that run. The company is also in talks with Colombian regulators over extending its Tapir licence and said it had detected a more supportive tone from the government towards oil and gas development, a factor that could shape future drilling plans in the region.
This report is based on Arrow Exploration’s announcement and coverage by UK Investor Magazine. Company announcements can be tracked via London Stock Exchange RNS and Investegate, and the full results calendar is worth watching for the next update.
This article is for general information only and does not constitute investment advice or a recommendation to buy or sell any security. Photo: Maria Lupan on Unsplash.
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