Overview

• Carso, through subsidiaries GSM Bronco and MX DLTA NRG 1, will drill and complete up to 32 onshore wells at Ixachi under a three-year contract.
• Pemex will begin paying in January 2027, making 21 monthly installments per delivered well using revenues from the field’s marketable hydrocarbons.
• The agreement has a maximum value of $1.991 billion including financing, with the total adjusted if fewer than 32 wells are delivered under the same formula.
• Ixachi currently produces about 93,000 barrels of oil and 715 million cubic feet of gas per day, and 28 wells have already been drilled at an average depth of roughly 7,650 meters.
• Carso cites more than 18 years of drilling experience and notes substantial unpaid balances from prior Pemex work, as the deal aligns with the government’s private-financing approach to bolster output.