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Arrow Exploration Corp. Third Quarter Interim Results Close of Private Placement and Appointment of Joint Broker
Calgary, Alberta--(Newsfile Corp. - November 24, 2021) - Arrow Exploration Corp. (AIM: AXL) (T...
About this update from Arrow Exploration Corp.
[{"type":"text","content":"Arrow Exploration Corp. Third Quarter Interim Results Close of Private Placement and Appointment of Joint BrokerCalgary, Alberta--(Newsfile Corp. - November 24, 2021) - Arrow Exploration Corp. (AIM: AXL) (TSXV: AXL), the high-growth operator with a portfolio of assets across key Colombian hydrocarbon basins, is pleased to announce the filing of its unaudited Financial Statements and MD&A for the quarter-ended September 30, 2021, which are available on SEDAR (www.sedar.com). All dollar figures are in U.S. dollars, except as otherwise noted. FINANCIAL AND OPERATING HIGHLIGHTSFinancial and operating highlights for quarter include the following:(in United States dollars, except as otherwise noted)Three months ended September 30, 2021Nine months ended September 30, 2021Three months ended September 30, 2020Total natural gas and crude oil revenues, net of royalties 1,684,6093,473,661207,934   Funds flow from (used in) operations (1)875,621257,504(1,095,338)Per share - basic ($) and diluted ($)0.010.00(0.02)   Net income (loss)(21,781)(1,266,503)(1,390,746)Per share - basic ($) and diluted ($)(0.00)(0.02)(0.02)Adjusted EBITDA (1)966,234264,032(1,090,974)Weighted average shares outstanding - basic and diluted68,674,60268,674,60268,674,602Common shares end of period68,674,60268,674,60268,674,602Capital expenditures148,528230,480146,584Cash and cash equivalents5,465,9815,465,98191,248Current Assets8,644,8308,644,8305,119,909Current liabilities 7,861,1237,861,12316,206,286Working capital (deficit) (1)783,707783,707(11,086,377)Long-term portion of restricted cash (2)485,263485,263441,284Total assets25,362,32325,362,32346,702,911   OperatingThree months ended September 30, 2021Nine months ended September 30, 2021Three months ended September 30, 2020   Natural gas and crude oil production, before royalties   Natural gas (Mcf/d)501419532Natural gas liquids (bbl/d)1167Crude oil (bbl/d)4813089Total (boe/d)575384104   Operating netbacks ($/boe) (1)   Natural gas ($/Mcf)1.351.071.06Crude oil ($/bbl)37.5934.29($247.98)Total ($/boe)30.7327.73($36.14)  (1)Non-IFRS measures - see \"Non-IFRS Measures\" section within this MD&A(2)Long term restricted cash not included in working capitalDISCUSSION OF OPERATING RESULTSThe Company's Q3 2021 ...