Overview

• The contract, disclosed in a filing to Mexico’s stock exchange, will be executed through Grupo Carso subsidiaries GSM Bronco and MX DLTA NRG 1.
• It covers drilling and completing up to 32 onshore wells within three years for a maximum of $1.991 billion, with the total reduced if fewer wells are delivered.
• Pemex will begin paying in January 2027 using revenues from marketable hydrocarbons, making 21 monthly installments per delivered well, with at least 12 wells expected to be producing by the first payment date.
• Ixachi, near Tierra Blanca in Veracruz, currently produces about 93,000 barrels of oil and 715 million cubic feet of gas per day, underscoring its status as a key onshore asset.
• The move fits the government’s mixed-contract strategy as reported figures show Pemex carries $22.8 billion in unpaid bills to suppliers and $98.8 billion in total debt.