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Marshall Abbott, CEO of Arrow Exploration says he’s encouraged by the log results of RCE-3, the fourth well drilled by Arrow on the Tapir block, and it will begin production in early March.
RCE-3 Update
The RCE-3 well reached total depth on February 16, 2023. RCE-3 is location within the Rio Cravo Este oil field, located on the Tapir Block in the Llanos Basin of Colombia. The well was drilled to a total measured depth of 8,880 feet (8,087 feet true vertical depth) and encountered seven hydrocarbon bearing intervals totaling 58 net feet of oil pay (measured depth).
The following hydrocarbon bearing intervals have been identified:
· Carbonera C7: 19 feet net oil pay over three intervals
· Lower Gacheta: 39 feet net oil pay over four intervals
Interval thicknesses are not necessarily indicative of long-term performance or ultimate recovery.
It is expected that the RCE-3 well will begin production in early March 2023. The rig will then be moved to the RCE-4 location with the intention that RCE-4 will spud within two days of RCE-3 being brought on production.