Arrow Exploration Brings the West Pepper Well on Production

Source: www.gulfoilandgas.com 12/13/2021, Location: North America

Arrow Exploration has announced that as of December 10th, 2021 the Dalehurst 06-26-52-23W5 well ('West Pepper Well') located near Edson, Alberta, Canada was brought on stream.

Initial stabilized production rates are 6.2 MMscf/d of natural gas, or over 1,030 boe/d, at 7,214 kPa tubing pressure, 30,048 kPa casing pressure, and with no water production.

With the additional production from the West Pepper Well, the Company estimates that its net corporate production is approx. 1,570 boe/d, almost tripling net corporate production prior to the tie-in of the West Pepper Well.

The West Pepper Well was brought on production at an estimated capital cost of approx. US$1.3 million.

With this additional natural gas production, the Company expects to benefit from currently robust natural gas prices in Canada. January 2022 natural gas futures contracts at the AECO hub (the benchmark for natural gas prices in Canada) were C$3.87/GJ as of December 12th, 2021, being approx. 30% higher than the 2021 Q3 average of C$2.97/GJ.

Marshall Abbott, CEO commented: 'Production initiation at the West Pepper Well represents a step change in our overall production profile. The well is expected to generate significant additional revenue and cash flow for the Company going forward.'

Due to expected natural decline rates, the initial production rates may not be indicative of the long-term expected production from the West Pepper Well.


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