Pemex, Lewis in Mexico shale contract

MEXICO CITY, March 27, 2018 – Pemex and US company Lewis Energy have signed an agreement worth USD 617 million to explore and develop an area of the Mexican side of the Eagle Ford shale play, the NOC announced in a press release on Monday.

The companies will work together under an Integrated Exploration and Extraction Contract in the Olmos field, where they will try to bring production to 3.31 mcm (117 mcf) of gas per day by 2021.

“Pemex is actively using the tools and flexibility the energy reform has granted the company, to share financial and operating risks with third parties and increase the strategic investments that will maximise the value of its hydrocarbons production,” the statement said.

The NOC is looking to leverage Lewis Energy’s experience in US unconventional plays, where it has drilled more than 500 shale gas wells.

Read our latest insights on: