Arrow Exploration reports 2024 reserves growth, highlights Tapir Block potential

Arrow Exploration CEO Marshall Abbott joined Steve Darling from Proactive to discuss the company’s 2024 year-end reserves evaluation, conducted by Boury Global Energy Consultants Ltd. The results highlight significant reserves growth across all categories, reinforcing the high resource density of the Tapir Block in Colombia and Arrow’s ability to drive future growth through drilling. Abbott revealed that proved developed producing (PDP) reserves surged by 92% to 2.38 million barrels of oil equivalent (MMboe), primarily due to the successful horizontal drilling campaign at Carrizales Norte. The net present value (NPV-10) before tax for PDP reserves stands at $71.3 million ($29.89/boe). Additionally, proved (1P) reserves increased by 10% to 5.80 MMboe, driven by discoveries at Alberta Llanos and further horizontal drilling success at Carrizales Norte. The NPV-10 for 1P reserves is $114.57 million ($19.75/boe). Arrow delivered strong reserves replacement ratios of 134% (1P) and 231% (2P), fueled by major discoveries in the Alberta Llanos Carbonera, Guadalupe, and Ubaque formations, as well as continued development at Carrizales Norte. These results emphasize the sustainability of Arrow’s growth strategy and the long-term value of its Colombian and Canadian assets. Looking ahead, Arrow is preparing for a robust 2025 drilling program with a fully funded $50 million capital budget, balancing development drilling and low-risk exploratory wells. The company remains committed to expanding its reserves base and enhancing shareholder value. #proactiveinvestors #arrowexplorationinc #aim #axl #tsxv #axl #OilAndGas #EnergyInvesting #ReservesGrowth #MarshallAbbott #LlanosBasin #OilDiscovery #EnergyStocks #Investing #ProactiveInvestors