Mexico’s upstream oil and gas regulator, Comisión Nacional de Hidrocarburos (CNH), has approved the appraisal plan by exploration and production firm Pantera Exploración y Producción to drill two wells in the Burgos Basin south of the Texas border.
One well is the Patriota-106DEL in Tamaulipas state, part of a modification to the evaluation program approved in early March. Investment is expected to hit $6.37 million, with $3.9 million for drilling and $2.47 million to complete the well.
The second approval was for the Teenek-1 well, targeting natural gas. Drilling is to begin in mid-September with costs projected at $4.93 million.
Last month, Mexico’s Jaguar Exploración y Producción CEO Warren Levy said natural gas in the Burgos is a promising investment opportunity...