Arrow Exploration Corp. 2024 Year-End Reserves Update

Core Insights - Arrow Exploration Corp. reported a significant increase in reserves across all categories for the year-end 2024, with Proved Developed Producing (PDP) reserves rising by 92% compared to 2023 [1][5][6] - The company achieved a reserves replacement ratio of 134% for Proved (1P) reserves and 231% for Proved plus Probable (2P) reserves, indicating strong sustainability and growth potential [5][6] Reserves Summary - PDP reserves increased to 2.38 million barrels of oil equivalent (MMboe), with a net present value before tax (NPV-10) of $71.3 million [5][11] - Proved (1P) reserves rose by 10$114.57 million [5][11] - Proved plus Probable (2P) reserves increased by 15% to 13.62 MMboe, with an NPV-10 of $284.9 million [5][11] - Proved plus Probable plus Possible (3P) reserves grew by 25$524.1 million [5][11] Performance Metrics - The company reported strong well performance, leading to higher reserves volumes compared to year-end 2023 [5][6] - Reserves Recycle Ratios were reported at 2.7 for 1P, 4.6 for 2P, and 8.7 for 3P, indicating efficient use of capital [5] - The NPV-10 per share for 1P, 2P, and 3P reserves were $0.40,$1.00, and $1.83 respectively [5] Future Outlook - Arrow plans to continue its growth trajectory through a fully funded$50 million capital budget for drilling in 2025, balancing development and low-risk exploratory wells [8][6] - The company is optimistic about further increases in reserves due to ongoing drilling activities in the Alberta Llanos and Carrizales Norte fields [6][7]