Pan American Energy has opted not to proceed to additional phases of exploration at one of the first blocks ever awarded off Mexico after the drilling of two wells failed to yield a discovery, according to the country's hydrocarbons regulator.
The Argentine independent has asked to terminate its contract on Area 2 from Round 1.1 after drilling two operated wells - Acan-1EXP, a non-commercial discovery that wrapped up in May, and Yaluk-1EXP, where saltwater was found in the wellbore in a probe that finished in June.
