# Hokchi Energy to Begin Offshore Drilling in Gulf of Mexico Private oil producer targets new exploratory wells to boost reserves in Mexican waters. - **Source:** [El Economista MX](https://www.eleconomista.com.mx) - **Published:** 2026-11-11 - **Topic:** [Business](https://brifing.si/c/business) - **Original article:** - **On Brifing:** https://brifing.si/s/e15af350-0079-4d41-91a6-53c4711ae114 ## New Exploratory Drilling Campaign Hokchi Energy, a major private oil producer in Mexico, is launching an offshore drilling campaign in the Gulf of Mexico. The company plans to drill two exploratory wells, Woolis and Tojol, starting in late November. These operations aim to evaluate potential oil reserves located in shallow waters off the Veracruz coast. ## Technical Scope and Timeline The project involves drilling to depths of approximately 1,500 meters. The first well, Woolis1-EXP, is scheduled to begin in the third week of November, with completion expected by early 2027. The second well will follow immediately, with all related drilling activities projected to conclude within the first quarter of next year. ## Investment and Resource Estimates Hokchi Energy has allocated a total investment of 60 million dollars for these two exploratory wells. The company estimates a 50 percent probability that these prospects contain 100 million barrels of crude oil equivalent. The primary goal is to determine fluid and reservoir characteristics within the Lower Pliocene geological sequences. ## Operational Partnerships and Infrastructure The drilling operations are managed by Fontis Energy, utilizing the Oberón jack-up rig currently stationed near Coatzacoalcos. Hokchi Energy holds a 75 percent stake in the production-sharing contract, while its affiliate Xaxamani Energy holds the remaining 25 percent. This collaboration leverages existing expertise to manage the technical challenges of offshore extraction. ## Strategic Integration with Xaxamani The company intends to integrate the development of Woolis and Tojol with the nearby Xaxamani discovery, which holds 3P reserves exceeding 130 million barrels of oil equivalent. By sharing infrastructure and operational resources, Hokchi Energy aims to maximize the value of these reserves and significantly reduce overall production costs in the region. ## Historical Context of Operations Hokchi Energy operates under a production-sharing contract signed with the Mexican state in June 2018. This contract was established during a period of sector liberalization. Despite subsequent policy shifts under the administration of former President Andrés Manuel López Obrador, the company continues to maintain its active exploration and development commitments. ## Current Production Performance Beyond these new prospects, Hokchi Energy remains a leading private producer in Mexico. Its existing Hokchi field currently yields approximately 20,000 barrels of crude oil and 7 million cubic feet of gas per day. This established production base provides the financial and operational foundation for the company's current expansion efforts. ## Future Development Outlook Following the completion of the drilling phase, the company will conduct a preliminary evaluation of the findings. Depending on the identified volumes, Hokchi may initiate a formal delimitation campaign. This systematic approach ensures that future development decisions are based on confirmed data, ultimately supporting the long-term growth of private energy production. ## Sources covering this story - https://www.eleconomista.com.mx/empresas/hokchi-energy-iniciara-perforacion-aguas-someras-golfo-mexico-finales-noviembre-20261111-843408.html — --- _Summary written by Brifing from the original reporting. Copyright in the original article belongs to its publisher; read the full piece at the link above._