Private sector oil production in Mexico hit a record high of 86,056 b/d in January, up from the previous high of 74,809 b/d set in December and 53,064 b/d in January 2021, according to upstream regulator Comisión Nacional de Hidrocarburos (CNH).


The 62% year/year increase was driven largely by Fieldwood Energy LLC, which until last month was the operator of the Ichalkil and Pokoch shallow water fields with a 50% working interest. Fieldwood reported oil output of 18,071 b/d and natural gas production of 29.6 MMcf/d in January from offshore Area 4, which contains the two fields.

In late February, Russia’s PJSC Lukoil completed its acquisition of Fieldwood’s operating interest in Area 4 in a transaction valued at $435 million.

The fields are estimated to contain 564 million...