Arrow Exploration

What Arrow Exploration does

Arrow Exploration Corp. is a Calgary-incorporated, AIM/TSX-V-listed junior oil and gas exploration and production company with producing and development assets concentrated in Colombia's Llanos Basin and Middle Magdalena Valley (MMV), plus non-operated interests in the Caguan-Putumayo Basin and a minor natural gas position in Western Canada. The company's core asset is a 50% working interest in the 65,154-acre Tapir Block in the Llanos Basin, which hosts multiple operated fields — Rio Cravo Este (discovered 2019), Carrizales Norte (2023), Alberta Llanos (2024), revitalized Mateguafa, and most recently Icaco (May 2026) — collectively producing approximately 5,000 boe/d corporate gross. Underlying technology is conventional E&P: horizontal drilling into stacked pay zones (Carbonera C7, Carbonera C9, Lower Gacheta, Ubaque), 3D seismic acquisition and proprietary interpretation for prospect generation, and completion techniques to manage water production and extend well life.

The company generates revenue by selling crude oil production to buyers and refineries at Brent-linked benchmark pricing, benefiting from Colombia's improved 2003/2004 fiscal regime (8-14% royalties) and proximity to two Caribbean export ports. A 100% working interest in the Oso Pardo field in the MMV (restarted 2021) and a 10% interest in the Capella discovery in the Putumayo (the largest Colombian discovery in 20+ years) provide modest diversification. Arrow's business model is self-funded growth from production cash flow, with no debt and $26.7M cash as of June 2026 supporting a multi-well development program. The company is lean (11-50 employees), led by CEO Marshall Abbott and Chairman Gage Jull, and is covered by four sell-side research analysts (Auctus, Canaccord, Hannam, Zeus). The 2025 reported revenue was approximately $70.4M, with 3P reserves of 20,102 Mboe (NPV10 of $472.7M pretax) — though 3P reserves declined 10% year-over-year, indicating that production growth is currently outpacing organic reserve replacement.

Name

Arrow Exploration

Legal name

Arrow Exploration Corp.

Website

https://arrowexploration.ca

Company type

Public

Founded year

2018

Operating status

Operating

Headcount range

11–50 employees

Short description

Arrow Exploration Corp. is a Calgary-based junior oil and gas E&P company operating primarily in Colombia's Llanos Basin, where it holds a 50% working interest in the Tapir Block producing ~5,000 boe/d, with additional assets in the Middle Magdalena Valley, Putumayo, and Western Canada.

Ownership category

akta.pro rank

Product category

Oil and Gas Exploration and Production

NAICS

Crude Petroleum Extraction (21112), Natural Gas Extraction (21113)

SIC

Crude Petroleum & Natural Gas (1311)

akta.pro primary industry

Drilling & Well Construction (E&P Operator-led) (EUALAAAD)

akta.pro secondary industries

Production Operations & Well Optimization (Artificial Lift, Flow Assurance) (EUALAAAF), Onshore Natural Gas E&P (Conventional Fields) (EUAAAAAG)

Keywords

• Oil and gas exploration
• Crude oil production
• Upstream energy operations
• Hydrocarbon reserves development
• Natural gas production

Headquarters

HQ city

Calgary

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Supply Chain, Marketing or Sales, Others

Revenue model

1. Oil and Gas Production Sales: Arrow Exploration generates revenue through the sale of crude oil produced from its operated and non-operated assets in Colombia. The company has approximately 5,000 boe/d of production and sells oil with Brent-linked pricing exposure. Revenue is derived from net production volumes after royalty payments.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Arrow Exploration Corp. is a junior oil and gas exploration and production company that produces and sells crude oil and natural gas from operated and non-operated assets in Colombia (Llanos Basin, Middle Magdalena Valley, Caguan-Putumayo Basin) and Western Canada. The company generates ~5,000 boe/d of corporate production with Brent-linked oil pricing, a debt-free balance sheet, and conducts exploration, development, and appraisal drilling programs targeting stacked reservoirs in the Carbonera C7, Carbonera C9, Lower Gacheta, and Ubaque formations.

Product overview

Arrow Exploration Corp. is an oil and gas exploration and production company operating in Colombia's Llanos Basin, Middle Magdalena Valley (MMV), and Caguan/Putumayo Basin, as well as in Western Canada. The company's portfolio consists of producing oil and gas assets rather than a unified software platform. Core assets include operated properties on the Tapir Block (50% WI) with multiple fields—Rio Cravo Este, Carrizales Norte, Alberta Llanos, Mateguafa, and Icaco—producing approximately 5,000+ boe/d net. Additional production comes from the Oso Pardo/Santa Isabel field (100% WI) in MMV, a 10% interest in the Capella Field in Putumayo, and Canadian natural gas assets. The company conducts exploration drilling, development drilling, and production operations with Brent-linked oil pricing exposure and low royalty rates.

Differentiator

Problem solved

Functional benefit

Products and services

• Tapir Block Operations Core operated asset in Colombia's Llanos Basin with 50% working interest across 65,154 gross acres, encompassing multiple producing fields (Rio Cravo Este, Carrizales Norte, Alberta Llanos, Mateguafa, Icaco) targeting Carbonera C7, Carbonera C9, Lower Gacheta, and Ubaque formations.
• Rio Cravo Este (RCE) Field Producing oil field on the Tapir Block in Colombia's Llanos Basin, with 10 wells on production as of April 2026.
• Carrizales Norte Field Oil field on the Tapir Block featuring the Ubaque reservoir with up to 80 feet of oil-charged stacked shoreface sands; 8 vertical wells and 11 horizontal wells on production from CN and CNB pads as of April 2026.
• Alberta Llanos Field Oil field on the Tapir Block with 121 feet of hydrocarbon-bearing reservoir across multiple zones; 3 wells on production.
• Mateguafa Field Field on the Tapir Block with 7 wells on production from the Mateguafa Pad as of April 2026, with additional development wells planned.
• Icaco Field Field on the Tapir Block currently producing from the Carbonera C7 formation with additional development wells planned.
• Capella Field (Ombu Block) Non-operated interest in the Ombu Block containing the Capella discovery, the most material and largest discovery in Colombia in over 20 years. Producing approximately 2,250 bbl/d gross (225 bbl/d net to Arrow) with 4.0 MMbbls of 2P reserves.
• Oso Pardo Field (Santa Isabel) 100% working interest asset in the Middle Magdalena Valley Basin with production from the Morsa-1, OP-1, and OP-2 wells and significant growth upside through appraisal drilling.
• West and East Pepper (Canadian Natural Gas) 100% working interest natural gas assets in the Montney play in Alberta, Western Canada, with 1.8 Tcf of Gas Initially-in-Place.

Quantifiable outcome

• Production of approximately 5,000 boe/d gross corporate output
• +3 more outcomes

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Three partnerships are on record, tiered core and minor.

• Ecopetrol SAcoreStrategic or Co-development PartnerArrow's 50% interest in the Tapir Block is contingent on the assignment by Ecopetrol SA of such interest to Arrow. Arrow operates in Colombia via a branch of its 100% owned subsidiary Carrao Energy S.A., and Ecopetrol is the national oil company of Colombia.
• Petrolco S.A.coreStrategic or Co-development PartnerPursuant to private agreements between Arrow and Petrolco S.A., Arrow is entitled to receive 50% of production from the Tapir block. Petrolco has the right to request approval from Ecopetrol for assignment of 50% of all rights, interests and obligations to Arrow under the Association Contract.
• Emerald Energy (Sinochem)minorChannel Partner/ Reseller/ DistributorEmerald Energy is the operator of the Ombu Block containing the Capella discovery, in which Arrow holds a 10% working interest. Capella is the largest discovery in Colombia in the past 20+ years, producing approximately 2,250 bbl/d gross.

Scale indicators8 records

Recent moves9 records

Expansion highlights5 records

Direct peers

• Parex Resources: Pure-play Colombian E&P focused on the Llanos Basin with similar acreage scale and a self-funded growth model. Operates in the same producing basins as Arrow and represents the most directly comparable Colombian small/mid-cap peer.
• Gran Tierra Energy: Colombia-focused E&P with operations concentrated in the Llanos, Putumayo, and Middle Magdalena Valley basins — overlapping Arrow's core geographies and customer base (oil buyers/refineries in Colombia).
• Frontera Energy: Colombia and Latin America E&P with significant production and acreage in the Llanos and Putumayo basins. Directly comparable to Arrow in terms of asset focus, Brent-linked realizations, and operational footprint.
• Canacol Energy: Colombia-focused E&P historically active in the same Middle Magdalena Valley and Llanos basins. Was a seller of assets to Arrow during the 2018 corporate restructuring, establishing direct operational and geological familiarity.
• PetroTal: Small-cap Latin American oil producer (Peru-focused) with Brent-linked realizations and a similar self-funded single-asset growth profile. Comparable in size, capital structure, and growth-stage positioning to Arrow.
• GeoPark Limited: Latin America E&P with historical Colombian operations in the Llanos Basin. Operated adjacent acreage with overlapping geology and customer channels; recently merged with Parex, consolidating Colombian E&P scale.
• Emerald Energy (Sinochem): Operates the Ombu Block containing the Capella discovery in which Arrow holds a 10% working interest. Directly comparable as a Colombian operator with active drilling programs in the Putumayo Basin.

Broad incumbents

• Ecopetrol: Colombia's national oil company and dominant upstream operator. Counterparty on the Tapir Block interest assignment, regulator-facing party for Arrow, and broad incumbent across Colombian basins where Arrow operates.

Regional players

• Tourmaline Oil: Canada's largest natural gas producer focused on the Montney and Deep Basin plays in Alberta and BC. Comparable to Arrow's Canadian gas assets in scale and play type, though operating primarily in Western Canada rather than Colombia.
• Whitecap Resources: Western Canadian Sedimentary Basin E&P with a diversified, self-funded production base. Comparable in capital-discipline philosophy and balance-sheet posture, though operates exclusively in Canada rather than Colombia.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCZuJRXQ6CkqfrK4JKfLhq1w
• LinkedInlinkedin.com/company/arrow-exploration-colombia

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries1 record

Funding overview

Funding rounds2 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Arrow Exploration