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StocksMedium•20 March 2026•

1 min read

Arrow Exploration Hits Oil at Mateguafa 11 Well, Production to Start Soon

A world map with oil refineries, pipelines, and pumpjacks. A red line graph shows a -13% decline, with oil barrels and market crash text.

Key Facts

1Arrow Exploration discovered oil-bearing sands in the Carbonera C7 and C9 formations at the Mateguafa 11 well.

Arrow Exploration Corp has announced successful drilling results from its Mateguafa 11 well, identifying significant oil-bearing sands in the Carbonera formations. The well encountered 18 feet of net pay in the C7 formation and 30 feet in the C9 formation. This discovery is part of the company's low-risk drilling campaign aimed at expanding production from its existing assets. Management expects fresh production from the well to commence within the next few weeks, providing a near-term boost to output. The successful operation marks a positive milestone for the company's exploration and production strategy. Investors are closely monitoring the impact of this new production on the company's overall revenue growth and operational capacity.