Mexico aims to increase output
According to Mexico’s National Commission on Hydrocarbons (CNH), of the 21 exploratory wells drilled in Mexico during the first three quarters of 2014, only seven had commercially viable oil or gas production. CNH also said that state firm Pemex originally had intended to drill 53 exploratory wells, and was not only far behind in its drilling schedule, but also experiencing a very low success rate. Low success rate. Between January and September, only one-third (seven) of the exploratory wells were successful, compared to the previous year, when the success rate was 60%. This lower success rate has dropped the rate of reserve replacement. Of the successful wells drilled, four were dual completions producing commercially viable amounts of oil and gas, one produced wet gas, one produced dry gas, and the last one produced gas and condensate.
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