Indie Arrow targets rapid production growth

Fears that left-leaning President Petro’s government would signal the end for Colombia’s oil industry appear unfounded

Arrow Exploration’s Tapir block is the most prolific in Colombia, Marshall Abbott, CEO of the AIM-listed independent, told Petroleum Economist in an interview. The firm has a $45m budget for this year and plans to drill 15 wells at Tapir, both horizontal and vertical. Horizontal drilling of three wells will begin by mid-April, and these wells “will take the company to the next level”, said Abbott, adding that “those wells have the potential to produce upwards of 2,000b/d” and pay out within just three months. The Calgary-headquartered firm operates Tapir with a 50% stake. “We are hoping to double production this year [from 3,250b/d in 2023]”, he added, stating that “our goal is to be at 10,0