CNH Greenlights Nojol-1 Well

CNH authorized PEP to drill the exploratory well in shallow waters, Nojol-1EXP. The well is part of the current exploration plan for assignment AE-0154-2M-CHALABIL. The approval for the modification of the exploration plan associated with the assignment was granted through document 220.0156/2023 on February 21, 2023.

The Nojol-1EXP prospect is located in the territorial waters of the Gulf of Mexico, off the coast of Tabasco, 107km southwest of Ciudad del Carmen, Campeche and 42.5 km northeast of Dos Bocas, Tabasco.

The objective of the Nojol-1EXP well is to discover a commercially viable accumulation of light oil in fractured carbonate rocks from the Cretaceous and the Upper Jurassic Kimmeridgian (JSK) plays. The expected hydrocarbon is light oil ranging from 37 to 42°API.

The well will be drilled with a "J" type trajectory, at a planned total depth of 6,300 to 6,351 m below the rotary table (mdbmr). The prospective resources at a mean with risk are 8.84MMboe in the Cretaceous and 13.5MMboe in the JSK, with a geological success probability of 26% and 27%, respectively.

The drilling and completion programs together span 196 days: 128 days for drilling, from Sept. 28, 2023, to Feb. 2, 2024, and 68 days for completion, from Feb. 3 to April 10, 2024, including abandonment. According to the CNH, the AE-0154-2M-Chalabil assignment covers an approximate area of 844.89km² and the total cost of drilling the well is estimated at US$113.83 million.