Mexico
News

Mexico clears updated Burgos basin development plans

Bnamericas Published: Thursday, November 25, 2021

Mexico’s hydrocarbons commission CNH gave the green light to two onshore plans presented by private sector players.

One is an evaluation program of Pantera Exploración y Producción for its Tenoch discovery in the Burgos basin, Tamaulipas state.

The regulator said Pantera still had doubts regarding the volumetrics of the discovery, and so would conduct a series of studies aimed at determining whether additional wells are worth spudding. 

If the results are favorable, the company would spud two new wells: one derived from the Tenoch exploration well that led to the discovery, and a new appraisal well meant to extend the discovery. If they are not positive, the area would likely lack commercial viability.

The company plans to invest at least US$3mn at the site by the end of 2023 and could invest up to US$12.6mn if it drills the two wells.

During an extraordinary session on Thursday, the commission also cleared a new 2022 work program presented by Servicios Múltiples de Burgos (SMB) for its M3-MISIÓN contract in the Burgos basin, straddling Nuevo León and Tamaulipas states.

According to the program, SBM expects to extract 32.3Bf3 (billion cubic feet) of natural gas and 100,000b of condensate at the site by investing US$53.3mn. The program involves spudding and completing six production wells, CNH said. Production for the year will be 22% higher than previously estimated in the area’s development plan, according to the company.

During the same session, CNH also approved a series of smaller requests by private players and energy ministry Sener to modify certain aspects related to a contract and a concession.

Subscribe to the most trusted business intelligence platform in Latin America. Let us show you our solutions for Suppliers, Contractors, Operators, Government, Legal, Financial and Insurance.

Subscribe to Latin America’s most trusted business intelligence platform.

Other projects in: Oil & Gas (Mexico)

Get critical information about thousands of Oil & Gas projects in Latin America: what stages they're in, capex, related companies, contacts and more.

Other companies in: Oil & Gas (Mexico)

Get critical information about thousands of Oil & Gas companies in Latin America: their projects, contacts, shareholders, related news and more.

  • Company: Murphy Oil México
  • The description included in this profile was taken directly from an official source and has not been modified or edited by the BNamericas’ researchers. However, it may have been...
  • Company: Herramientas Varco S.A. de C.V.  (HVarco)
  • The description contained in this profile was taken directly from an official source and has not been edited or modified by BNamericas researchers, but may have been automatical...
  • Company: Instituto Mexicano del Petróleo  (IMP)
  • The Mexican Petroleum Institute (IMP) is a public center dedicated to basic and applied scientific research, in order to develop technologies applicable to the petroleum industr...