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News Article

Iberoamericana de Hidrocarburos to Drill Tlacuache-1EXP Well

By Conal Quinn | Mon, 05/16/2022 - 15:59

The National Hydrocarbons Commission (CNH) authorized Iberoamericana de Hidrocarburos to proceed with drilling at Tlacuache-1EXP in Nuevo León. The onshore exploratory well forms part of the base scenario within an existing exploration plan, approved by the regulator through resolution CNH.E.73.004/2018 from Dec. 20, 2018, which corresponds to the previous contract CNH-R02-02-A1.BG/2017. 

The hydrocarbons that the Monterrey-based company expects are gas and condensate accumulations, which Iberoamericana identified in the vertical meter interval from 1 ,426 to 2,793 m. The contractor intends to drill through an S-type trajectory up to 2,793 vertical m to explore a geological column in the Jackson formation. Prospective resources stand at 91MMboe, with a 35 percent probability of geological success. The drilling and completion programs are scheduled to take a total of 62 days: 31 days for drilling from Sept. 20 to Oct. 20, 2022 and 31 days for completion from Oct. 21 to Nov. 20, 2022.

 This latest authorization comes after the CNH previously granted Iberoamericana de Hidrocarburos permission to drill the Loma Linda-1EXP well in April 2022. This onshore exploratory well falls under contract CNH-R02-L02-A1.BG/2017, located around 57km southwest of Reynosa, Tamaulipas. Its objective is to discover the oil potential of the Oligocene Vicksburg play. Iberoamericana expects to recover substantial volumes of gas and condensate resources in the Miocene Catahoula, Middle Jackson Eocene, Lower Jackson Eocene and Yegua Eocene reservoirs. Prospective resources at average risk are estimated at 1.5MMboe. Meanwhile, the probability of geological success sits at 20 percent.

According to the CNH, the drilling and completion programs for this well will last a total of 51 days. For drilling, 21 days will be required between Aug. 20 and Sept. 10, 2022. For completion, 30 days will be required from Sept. 11 to Oct. 11, 2022.

Iberoamericana announced its intentions to invest US$360 million in Tamaulipas in 2021. Nevertheless, total investment in the northeastern state fell by 87 percent during 1Q22 as Iberoamericana were forced to halt further investment in the Cuenca Basin, where the company works together with Servicios Múltipes de Burgos, Pantera Exploración y Producción and Newpek.

The data used in this article was sourced from:  
Energy and Commerce, BN Americas, Oil and Gas Magazine, Gobierno de México
Conal Quinn Conal Quinn Journalist & Industry Analyst