Business · Energy & Commodities · 3 hrs ago
Hokchi Energy begins offshore oil exploration in the Gulf of Mexico
Hokchi Energy has begun exploring two wells in Mexico’s Gulf of Mexico.
The company plans to spend more than $60 million on the Woolis and Tojol prospects.
They may contain over 100 million barrels of oil equivalent, with a 50% chance of success, according to the estimates.
Drilling will help determine what fluids and reservoir formations are present and how much resource they hold.
If successful, the wells could join development of the Xaxamani field, which has certified 3P reserves of more than 130 million barrels of oil equivalent.
Xaxamani’s development is under way, and production is expected to start in the short term, though no date has been set.
Hokchi currently produces about 20,000 barrels of oil and 7 million cubic feet of natural gas daily from its offshore field near Paraíso, Tabasco.
Hokchi Energy has begun offshore exploration in the Gulf of Mexico, targeting the Woolis and Tojol wells.
The company estimates the work will cost more than $60 million and says the prospects could hold more than 100 million barrels of oil equivalent, with a 50% probability of success.
The wells are intended to assess the fluids and reservoir in Lower Pliocene sequences and quantify associated resources.
If successful, Woolis and Tojol could be added to the development plan for the Xaxamani field, whose certified 3P reserves exceed 130 million barrels of oil equivalent.
Hokchi said the Xaxamani development plan is being carried out and is expected to begin producing hydrocarbons in the short term, but gave no exact date.
- Who
- Hokchi Energy.
- What
- It has started offshore exploration targeting the Woolis and Tojol wells.
- When
- The report was published on November 11, 2026. The exploration start date is not stated.
- Where
- In the Gulf of Mexico. The specific well locations are not stated.
- Why
- To evaluate the exploration targets, determine reservoir and fluid characteristics, and quantify potential resources.
This story does not have two clearly opposing sides.
The exploration activities are associated with a contract from Mexico’s third oil auction round, conducted by the National Hydrocarbons Commission.
Expansión MX reported that Hokchi Energy had begun exploration targeting Woolis and Tojol.
- Estimated investment
- More than $60 million
- Exploration wells
- Woolis and Tojol
- Prospective resources
- More than 100 million barrels of oil equivalent
- Probability of success
- 50%
- Xaxamani certified 3P reserves
- More than 130 million barrels of oil equivalent
- Current Hokchi field output
- About 20,000 barrels of oil and 7 million cubic feet of natural gas per day
What people are saying
As a technological innovation in this type of formation, a production test will be carried out using the Deep Transient Testing (DTT) tool, which eliminates the need for a Floating Production Storage and Offloading (FPSO) vessel, since there is no oil or gas production at the wellhead, only sampling in the target formations.
With this strategic decision, Hokchi Energy reaffirms its confidence in Mexico, in its future, and its firm conviction that this technical work will strengthen national goals for new discoveries and additional hydrocarbon production.