30th May 2022 15:10
Arrow Exploration Corp - Calgary, Canada-based oil and gas company - Says Rio Cravo Este-2 well was brought on production on May 23, and well Rio Cravo Sur-1 has been successfully spud at the same date in the Tapir Block of Rio Cravo Este 2 area, in the Llanos Basin of Colombia. RCS-1 is currently drilling ahead at 1,500 feet, expected to reach a total depth of 8,700 feet. RCE-2 initially produced at high rates before it developed a water cut. It is currently being managed at reduced rates of 1,000 barrels of oil per day, Arrow says, or 500 barrels net to Arrow. This is ahead of Arrow's forecasts of 360 barrels net. The well is expected to payout in less than six months, it says. Read More