Curated News
By: NewsRamp Editorial Staff
May 17, 2024
Arrow Exploration Marks a Step Change in Production with First Horizontal Drilling at Tapir
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- Arrow Exploration Corp's CEO discusses successful spudding of the first horizontal well, enhancing oil recovery and reducing water intrusion for a competitive advantage.
- Extensive planning and reservoir simulations preceded the successful spudding of the CNB HZ-1 well, leveraging 400 horizontal wells of experience for transformative drilling.
- Arrow's horizontal drilling at the Tapir project will enhance oil recovery, reduce water intrusion, and produce clean oil, contributing to a more sustainable energy future.
- The horizontal drilling at Arrow's Tapir project is expected to be transformative, with plans for multiple buyers lined up, expecting favorable netbacks and a $15 discount to Brent.
Impact - Why it Matters
The successful spudding of the first horizontal well at the Tapir project marks a significant shift in oil production, with potential for increased oil recovery and favorable netbacks. This development could impact the oil industry and investors, as Arrow Exploration Corp plans to leverage its expertise to potentially drill up to ten horizontal wells, leading to increased production and revenue.
Summary
Arrow Exploration Corp CEO Marshall Abbott discusses the successful spudding of the first horizontal well at the Tapir project in Columbia, which is expected to be transformative for oil recovery. The company plans to drill up to ten horizontal wells and start production in early June, with multiple buyers lined up for the clean oil.
Source Statement
This curated news summary relied on this press release disributed by News Direct. Read the source press release here, Arrow Exploration Marks a Step Change in Production with First Horizontal Drilling at Tapir
