CNH Approves PEMEX Onshore Well in Veracruz

CNH has granted authorization to PEMEX Exploración y Producción (PEP) to carry out the drilling of the onshore exploratory well Panamak-1EXP. This is considered in the incremental scenario of the modification to the exploration plan corresponding to allocation AE-0182-M-Waya, approved by CNH with Resolution CNH.25.04/2023 on July 6, 2023.

Panamak-1EXP is in the municipality of Papantla de Olarte, in the state of Veracruz. The main objective of the well is to discover an accumulation of hydrocarbons in calcareous Cretaceous mudstones of the Tamabra Formation.

Moreover, the well is planned to be drilled with a directional "J" type trajectory, with a total planned depth of 2,815m true vertical depth (mvbmr) and 2,930 m measured depth below rotary table (mdbmr). The expected hydrocarbon is light oil with 29° API, with prospective resources at risk estimated at 4.6MMboe and a geological success probability of 17%.

The drilling and completion programs encompass a total of 105 days: 51 days for drilling, from Nov. 9 to Dec. 19, 2023, and 54 days for completion, from Jan. 19 to March 12, 2024.

During the same session, CNH also approved the drilling of the onshore well Xadani-1EXP, which is considered in the Base Scenario of the Exploration Plan corresponding to Allocation AE-0129-M-Llave, approved by the CNH with Resolution CNH.E.90.004/2022 on Dec. 8, 2022.

The well is in the municipality of San Andrés Tuxtla, Veracruz, and the primary objective of the well is to confirm the presence of dry gas hydrocarbons in Lower Pliocene sandstones.

According to CNH, the well is planned to be drilled with a vertical directional trajectory to a total depth of 1,036m vertically. The prospective resources at risk are estimated at 2MMboe. The expected hydrocarbon is dry gas, with a geological success probability of 34%.

The drilling and completion programs in total encompass 39 days, with 20 days allocated for drilling, from Nov. 9 to Nov. 29, 2023, and 19 days for completion, from Nov. 29 to Dec. 18, 2023.

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