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 1,700-1,800 bbl/d (170-180 bbl/d net to ARROW)
  • Low royalty rate of 6%
  • Opportunities for secondary recovery (thermal) to be evaluated, increasing potential recovery