Arrow Expands Alberta Footprint with $8.9M Thorsby Acquisition
Arrow Exploration has expanded its presence in Alberta by acquiring an oil property in the Thorsby area for approximately $8.9 million, the company announced on August 17, 2026.
The acquired asset covers 9,501 net acres, about 200 kilometers north of Calgary, and is estimated to hold nearly 5 million barrels of oil equivalent (boe) of 1P reserves and 7.5 million boe of 2P reserves.
Currently, the property is producing 550 boepd, with approximately 27% being oil and liquids at a decline rate of about 15%. Arrow believes that secondary recovery will help mitigate production declines and increase the recovery factor.
The CEO of Arrow Exploration, Marshall Abbott, stated, 'The Thorsby acquisition represents a low-risk, exceptional return inventory suite of development drilling opportunities. The development focus is on the Cretaceous Sparky Formation as a proven reservoir where management has years of geologic fluency.'