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Analysis

Ixachi-1 Proves Onshore Exploration and Production Potential

Sun, 07/01/2018 - 14:12

On March 11, 2017, President Peña Nieto announced the discovery of a field with an original volume of 1.5 billion boe. The Ixachi-1 well is 72km south of the port of Veracruz and close to Cosamaloapan. The estimated amount makes it the most important onshore discovery developed by PEMEX in the last 15 years and could add close to 350 million boe to the country’s 3P reserves. According to PEMEX’s estimates, the formation could even double its volume if it extends beyond initial estimates. The significance of this discovery increases due to its position close to existing pipeline infrastructure, meaning that it can enter production activities in a shorter period of time. Considering that the well could prove the continuity of the well-known Faja de Oro, it is listed by CNH as strategic, with high risk but also high reward.

Ixachi Discovery

 

Purpose of the Well