Canada's Arrow Exploration Q1 revenue rises on higher Colombian output

Arrow Exploration

27/05/2026 07:09

Overview
Canada oil and gas producer's Q1 revenue rose 21% yr/yr on higher Colombian output
Q1 adjusted EBITDA grew 22% yr/yr, reaching $14.1 mln
Net income for Q1 more than doubled from a year earlier

Outlook
Arrow expects to drill additional wells at Icaco pad during remainder of 2026
Company plans further development wells on Alberta Llanos and Carrizales Norte pads in 2026
Arrow expects numerous well recompletions to improve productivity in its most prolific fields

Result Drivers
HIGHER COLOMBIAN OUTPUT - Q1 production rose 15% yr/yr, mainly due to increased volumes from the Mateguafa Attic field in the Tapir block
HIGHER REALIZED PRICES - Company realized higher prices for oil and natural gas, and benefited from increased lighter oil output
IMPROVED OPERATING NETBACKS - Operating netbacks increased, reflecting improved crude oil prices and production mix

Company press release: ID:nRSa7829Fa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Adjusted EBITDA
 
$14.10 mln
 

Analyst Coverage
The one available analyst rating on the shares is "buy"
The average consensus recommendation for the oil & gas exploration and production peer group is "buy"
Wall Street's median 12-month price target for Arrow Exploration Corp is C$0.55, about 22.2% above its May 26 closing price of C$0.45
The stock recently traded at 5 times the next 12-month earnings vs. a P/E of 5 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)