MEXICO CITY Feb 26 Mexico's state-owned oil
company Pemex will drill just 10 shale test wells this
year, the head of the company's exploration and production arm
said on Wednesday, as it awaits the implementation of a landmark
energy overhaul law passed last year.
That will bring the total number of shale test wells in
Mexico to 175, which compares with more than 13,000 permits
issued for shale wells in the Eagle Ford formation just across
the border in southern Texas, where shale oil production stood
at 688,000 barrels per day last year.
Mexico has yet to produce any shale oil on a commercial
"That kind of massive development has yet to reach us here
in Mexico," Gustavo Hernandez, interim head of Pemex's
exploration and production division, said at a conference in
He said Mexico's technically recoverable shale resources
stand at 60.2 billion barrels of oil equivalent.
Hernandez added that the country's prospective shale oil and
gas developments, mostly in northeastern Mexico near the U.S.
border, will eventually require 60,000 wells.
As a result of President Enrique Pena Nieto's energy reform,
which ended Pemex's 75-year monopoly on oil and gas production,
the bulk of shale development could be handled by foreign and
private oil companies.