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Caguan/Putumayo Development2018-11-01T15:23:32+00:00

Caguan/Putumayo Development

Capella is an undeveloped sleeping giant – ARROW holds 10%

Key Highlights

  • The 10% interest in the Ombu Block contains the Capella discovery, the most material and largest discovery in Colombia in the past 20+ years
  • Significant Capella discovery extended heavy oil trend from Venezuela to Ecuador
  • 2017 ARROW 2P reserves of 4.9 mmbbl and 3P reserves of 7.9 mmbbl of 8-11 degree API heavy crude oil
  • Opportunities for secondary recovery (thermal) to be evaluated, increasing potential recovery
  • Meaningful production volumes achieved in 2014
    • Field shut in March 2015 as a result of pricing and security issues
    • Intermittent production through 2016/17
  • Field currently producing 2,500 bbl/d (250 bbl/d net to ARROW)
  • Returned to production in early 2018 due to improved oil pricing

Planned Activity

  • It is expected that ARROW will meet with the Operator in the near future to discuss plans for this large heavy oil discovery