Arrow Exploration Corp (TSX-V:AXL, AIM:AXL, OTC:CSTPF) reported a 48% increase in second-quarter production to 3,768 barrels of oil equivalent per day, as operations in Colombia continue to ramp up.
Oil and gas revenue net of royalties rose to $15.9 million, a 5% increase year-on-year, and the firm ended June with $13.2 million of cash.
The company drilled five development wells across the Alberta Llanos, Carrizales Norte and Rio Cravo Este fields in the half, and invested $2 million in road and pad infrastructure. It also completed a $3 million 3D seismic programme over the southern Tapir block.
Net income for the year to date was $1.7 million, compared with $1.2 million in the first half of 2024.
“The second quarter of 2025 has been very busy for Arrow," said chief executive Marshall Abbott.
"The two horizontal development wells at Alberta Llanos have highlighted the potential for horizontal development in the Ubaque in other areas of the Tapir block. The company plans to further test this potential with an exploration well at Mateguafa Oeste in Q3”.
Current production is about 4,200 boe/d, with additional wells due online in early September expected to lift the rate further.