Mexican President Enrique Pena Nieto on 3 November 2017 said that the Ixachi 1 NFW, in the AE-0032-M-Joachin-02 contract area, discovered initial gross original in place estimates of 1.5 billion boe. The well was reported by Pemex as being the company's largest onshore light oil, gas and condensate discovery in the last 15 years with 3P recoverable reserves that could reach 350 MMboe. Ixachi 1 is located 4km NW of the Mocarroca 1 NFW that discovered oil in 2005. The well should be able to be brought on line quickly, as it is located near existing infrastructure. The Vera Cruz Basin NFW was spudded on 25 January 2017 with a PTD of 7,728m. The well had targets in the Cretaceous. It was spud to explore a possible extension of the Faja de Oro play on Mexico's Gulf Coast. Pena Nieto also said that Ixachi is similar in size to the Talos-operated Zama-1 (Zama-1SON) discovery also made in 2017, located on Block 7 (Contracto CNH-R01-L01-A7/2015). That well tested 28-30 deg API oil & some associated gas and discovered initial gross original oil in place estimates in the range of 1.4 Bbls to 2 Bbls.
Ixachi 1 op. by Pemex (100%) in A-0269-M-Campo Perdiz block, estimated to contain original volumes in place of up to 1,5 billion boe, which could represent recoverable resources of 350 MMboe. Largest Mexican onshore oil find in 15 years.