Arrow Exploration sees major milestone with CN-3 well fueling future growth prospects

About this update from Arrow Exploration Corp.

[{"type":"text","content":"Arrow Exploration sees major milestone with CN-3 well fueling future growth prospects\n \n \n (NewsDirect)\n \n \n \n \n Arrow Exploration CEO Marshall Abbott\njoined Steve Darling from Proactive to share an exciting update on the\ndrilling of the CN-3 Well.\n \n \n The\nresults from this drilling endeavour represent a significant milestone\nfor the company.\n \n \n The CN-3 Well was\ndrilled to a total measured depth of 9,260 feet, with a true vertical\ndepth of 8,633 feet. During the drilling process, multiple\nhydrocarbon-bearing intervals were encountered within the C7, Gacheta,\nand Ubaque formations.\n \n \n Abbott\nshared with Proactive that the CN-3 Well made two substantial\ndiscoveries within the Ubaque formation, with a total vertical depth\nof 67 feet. These oil pay zones exhibited exceptional characteristics,\nsimilar to those found in the CN-1 and CN-2 Wells.\n \n \n These findings further confirm the\nsubstantial potential of the Ubaque formation within the Carrizales\nNorte field. Additionally, the well encountered 23 feet of pay in the\nC7 formation and 59 feet of pay in the Lower Gacheta formations.\n \n \n The Lower Ubaque zone, which\ninitially underwent testing, revealed approximately 50 feet of net oil\npay with favorable attributes such as an average porosity of 26% and\nan estimated permeability of four Darcies. The well initially tested\nat an impressive 593 barrels of oil per day (BOPD) gross initial\nproduction with a 30% water cut. However, on the 11th day of testing,\nthe water cut increased, and the lower Ubaque test was completed.\n \n \n After CN-3 is in full production,\nthe drilling rig will be relocated to the RCE field, where Arrow\nExploration plans to further exploit the multi-zone RCE structure.\nThis involves drilling two dedicated Gacheta wells and following up on\nthe RCE-6 C7 producer. Subsequently, the drilling rig will return to\nthe CN field to drill additional Ubaque-targeted wells.\n \n \n Arrow\nExploration's ongoing success and exploration efforts underscore\nits commitment to harnessing the vast potential of these fields,\npositioning the company for continued growth and success in the oil\nand gas sector.\n \n \n \n Contact Details\n \n \n \n Proactive\nCanada\n \n \n +1 604-688-8158\n \n \n \n [email protected]\n \n \n \n Copyright (c) 2023 TheNewswire - All ...

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