CDMX Mining’s Tabasco-Campeche Basin project focuses on the extraction of oil, although we are currently exploring the opportunity and viability of mining shale gas in the area. The basin, containing geologically diverse terrain and structures, holds historic value to Mexico, with the country’s large-scale oil mining industry beginning here in the last century.
With untapped potential and various producing opportunities spread across the multi-zone area, this basin has seen an influx of foreign enterprises. CDMX Mining’s own site in the area is located in the Campeche formation. While there have been challenges extracting oil and some wells abandoned due to economic unviability, we now steadily produce a large amount of crude.
Established in 2018, this site has produced an average of around 40,000 BPD, and we plan to further develop infrastructure to increase capacity and drill new wells to improve production. With completion of the enhancements slated for 2022, we envisage an increase in average production to 80,000-90,000 BPD by 2023.
We are also exploring the possibility of mining shale gas and have drilled several wells in potential areas, extracting cores to be tested to establish project viability.