Capella Field – Established Production with Upside to Higher Recovery Rates
Capella is an underdeveloped asset – Arrow holds 10%
Key Highlights
- Arrow’s 10% interest in the Ombu Block contains the Capella discovery, the most material and largest discovery in Colombia in the past 20+ years
- Extension of the heavy oil trend from Venezuela to Ecuador
- Emerald Energy (Sinochem) is the operator
- 4.0 MMbbls of 2P reserves net to Arrow (as of 12-31-2020)
- Capella is currently producing approximately 2,250 bbl/d (225 bbl/d net to ARROW)
- Low royalty rate of 6%
- Opportunities for secondary recovery (thermal) to be evaluated, increasing potential recovery
