Arrow Exploration doubles reserves, unveils major discovery – ICYMI

Core Viewpoint - Arrow Exploration Corp reported significant growth in its 2024 year-end reserves, with PDP reserves nearly doubling and total proven reserves reaching 5.3 million barrels, alongside a reserve replacement ratio of 230%, indicating strong performance compared to industry standards [1][4]. Reserves Growth - The company’s PDP reserves increased by almost 100%, reflecting a doubling of production while successfully replacing reserves [3][7]. - Total proven reserves reached 5.3 million barrels, with 2.38 million barrels classified as PDP [7]. Performance Metrics - The reserve replacement ratio of 230% and a recycle ratio of 2.4 times are significantly above the industry standard of one time, showcasing the company's strong performance relative to peers [4][8]. - The company attributes its success to the outperformance of wells compared to forecasts, indicating effective drilling and operational strategies [2][6]. Discoveries and Future Prospects - A major discovery in the Ubaque reservoir at the Llanos Tapir Block has contributed to the substantial increase in reserves, with ongoing development expected to yield further results [5][10]. - The company has encountered promising hydrocarbon indications in multiple reservoirs, with expectations for excellent additions to reserves in 2025 [11][12].