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

–News Direct–

Arrow Exploration CEO Marshall Abbott joined Steve Darling from Proactive to share an exciting update on the drilling of the CN-3 Well.

The results from this drilling endeavour represent a significant milestone for the company.

The CN-3 Well was drilled to a total measured depth of 9,260 feet, with a true vertical depth of 8,633 feet. During the drilling process, multiple hydrocarbon-bearing intervals were encountered within the C7, Gacheta, and Ubaque formations.

Abbott shared with Proactive that the CN-3 Well made two substantial discoveries within the Ubaque formation, with a total vertical depth of 67 feet. These oil pay zones exhibited exceptional characteristics, similar to those found in the CN-1 and CN-2 Wells.

These findings further confirm the substantial potential of the Ubaque formation within the Carrizales Norte field. Additionally, the well encountered 23 feet of pay in the C7 formation and 59 feet of pay in the Lower Gacheta formations.

The Lower Ubaque zone, which initially underwent testing, revealed approximately 50 feet of net oil pay with favorable attributes such as an average porosity of 26% and an estimated permeability of four Darcies. The well initially tested at an impressive 593 barrels of oil per day (BOPD) gross initial production with a 30% water cut. However, on the 11th day of testing, the water cut increased, and the lower Ubaque test was completed.

After CN-3 is in full production, the drilling rig will be relocated to the RCE field, where Arrow Exploration plans to further exploit the multi-zone RCE structure. This involves drilling two dedicated Gacheta wells and following up on the RCE-6 C7 producer. Subsequently, the drilling rig will return to the CN field to drill additional Ubaque-targeted wells.

Arrow Exploration's ongoing success and exploration efforts underscore its commitment to harnessing the vast potential of these fields, positioning the company for continued growth and success in the oil and gas sector.

Contact Details

Proactive Canada

+1 604-688-8158

na-editorial@proactiveinvestors.com

View source version on newsdirect.com: https://newsdirect.com/news/arrow-exploration-sees-major-milestone-with-cn-3-well-fueling-future-growth-prospects-933446841

Arrow Exporation Corp

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COMTEX_440737735/2655/2023-09-22T13:24:11

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