Grupo Carso Secures US$1.99B PEMEX Drilling Contract at Ixachi

Grupo Carso announced the signing of a financed drilling services contract with PEMEX for the Ixachi onshore field, one of Mexico’s most significant oil and gas projects. The agreement was executed through subsidiaries GSM Bronco and MX DLTA NRG 1, covering the drilling and completion of up to 32 wells over a three-year period for a maximum of US$1.991 billion.

Ixachi, located in Veracruz, currently produces around 93Mb/d of oil and 715MMcf/d of natural gas, equivalent to 236Mboe. To date, 28 wells have been drilled at an average depth of 7,650m, with Grupo Carso already involved in previous drilling campaigns.

Under the new contract, PEMEX will begin payments in January 2027, issuing 21 monthly installments per completed well. By that date, 12 wells from the program are expected to be onstream. If all 32 wells are drilled, the maximum value of the contract would reach US$1.991 billion, including financing. Payments will be sourced from revenues generated by hydrocarbons produced at the field.

In the announcement made to the Mexican Stock Exchange, Grupo Carso highlighted its more than 18 years of experience in land and offshore drilling, with a fleet of 19 onshore rigs and three offshore units, including one jack-up and two semi-submersibles. The company has previously worked on strategic PEMEX assets such as Quesqui and Ixachi, though it noted that some balances remain pending collection for past services rendered.