Arrow Exploration Corp (TSX-V:AXL, AIM:AXL, OTC:CSTPF) reported average production of 4,214 barrels of oil equivalent per day in the third quarter of 2025, slightly higher than the same period a year earlier.
The company generated total oil and gas revenue of US$18.50 million net of royalties for the quarter and ended September with US$6.3 million in cash.
Arrow said it drilled two development wells at the Carrizales Norte field during the period and completed an exploration well at Mateguafa Oeste. Post-period-end activity included drilling at the Mateguafa Attic location and the spudding of a horizontal well.
Chief executive Marshall Abbott described the third quarter as "very busy". He highlighted a focus on infrastructure work that supports future drilling and noted that the Mateguafa Attic discovery and the Icaco prospect may act as catalysts for the business.
"Arrow has invested heavily into roads, pads and water infrastructure in both Q2 and Q3 and the results can be seen with a significant decrease in the company's operating cost in Q3 when compared to Q2 2025.
He added: "This investment will continue to pay back over the life of the Tapir pads."
"The focus for the remainder of 2025 will be to drill low-risk wells at the Mateguafa Attic pad in the Tapir block and to get all preliminary works in place to drill our first exploratory well at the Icaco prospect."
The Arrow boss also noted that the company continues to work with regulatory authorities on the extension of the Tapir block, and it believes it has met all of the requirements for an extension and discussions with regulatory officials continue to progress.