CNH authorizes US$128 million investment to SMB for well drilling in NL

Category: Uncategorised
Published: 2019-01-25

The Comision Nacional de Hidrocarburos (CNH) authorized investments for US$128.49 million to the company Servicios Múltiples de Burgos (SMB) for the development of oil wells in a block of land located in Nuevo Leon.

The company plans to drill 17 holes for new wells, where it expects to find resources of natural gas and for the creation of 201,000 barrels of condensate, which would consist of liquid hydrocarbons with low levels of sulfur.

Servicios Múltiples de Burgos plans to start the well development activities in February of this year and is to continue with the work plan up until December of next year.

“The proposed activities contribute to the acceleration of the development of knowledge of the country’s oil potential,” explained the CNH.