Carrizales Norte Prospect:
- The original Carrizales Field (proximate to Carrizales Norte Prospect):
- Discovered by C&C Energia in 2007 with the Carrizales-1 well – led to $500 million sale of C&C. Frontera Energy is the current operator.
- 24 wells have been drilled to date
- As of December 2019, the field had produced approximately 8.4 MMbbls oil and had achieved a peak oil production rate of 7,300 bbls/d
- Arrow sees potential for 4-5 development wells at Carrizales Norte, with Carrizales Norte -1 seen as a low-risk step-out well from the Carrizales Field
- Within the vicinity of the Tapir block, the average peak or test rate from the three main producing formations is approximately 1,100 bbls/d, with some rates in excess of 2,000 bbls/d
- Arrow estimates a very high chance of commercial success (over 90%)