Tag Archives: Mexico shale

Mexico Insitute Mexico Energy Webcast Mon Oct 3

Regulating Environment and Safety in Mexico’s New Energy Sector: A Conversation with Carlos de Regules

Source: Regulating Environment and Safety in Mexico’s New Energy Sector: A Conversation with Carlos de Regules | Wilson Center

Mexican shale fields may open next year – MRT.com

After years of delay, Mexico could open up its vast shale oil fields to U.S. drillers as soon as next year, the Mexican secretary of energy said Friday.   Pedro Joaquin Coldwell, speaking to energy executives, attorneys and academics at Rice University, said that the long-suspended auctions for northern Mexico’s shale fields could reopen after the first quarter of 2017.   “Everything will be ready by March,” he said.   The fields could provide Houston oil companies with nearby and ready-made opportunities for expansion. Much of it is essentially an extension of the Eagle Ford reservoir, which stretches from central Texas and into Mexico. Local companies, familiar with the geology and now experts in hydraulic fracturing, could be first in line to develop the fields.   Mexico, in the middle of sweeping energy reform, is holding auctions to sell the rights for private companies to drill in its untapped oil fields. The country has gathered more than $22 billion in private sector commitments so far, on projects ranging from oil drilling to pipelines to power plants.

Source: Mexican shale fields may open next year – MRT.com: Oil & Gas

Mexican service companies to get a peek at Eagle Ford “know how” – San Antonio Business Journal

With nine oil and gas leases coming up for bid just across the border from Texas, several Mexican companies will soon be arriving in the Lone Star State to get a peek at the technology and skills that made the Eagle Ford Shale one of the most prolific fields in the United States.The San Antonio-based Eagle Ford Consortium is hosting a ” Texas-Mexico Business Forum” at the International Center for Trade in Eagle Pass on Sept. 22 and 23.

Source: Mexican service companies to get a peek at Eagle Ford “know how” – San Antonio Business Journal

Mexico to reveal next set of oil tenders between March-April | Reuters

Mexico will publish between March and April the new number of fields of shale and other more expensive oil and gas deposits to be tendered under an energy reform finalized last year, the National Hydrocarbons Commission (NHC) said on Monday.

The government has for weeks signaled the need to scale back some costlier fields amid a sharp drop in oil prices.

“A redefinition is required, looking at the reality of the markets,” NHC President Juan Carlos Zepeda told reporters.

The likely reduced number of blocks for the exploration and production of shale and other more expensive oil and gas deposits, including parts of the Chicontepec basin, will be published between March and April, he said.

via Mexico to reveal next set of oil tenders between March-April | Reuters.

Oil Majors Show Early Interest in Mexico Bidding Round – NASDAQ.com

Major international oil firms including Exxon Mobil Corp. and Royal Dutch Shell PLC are showing interest in the initial phase of a bidding round for exploratory oil and gas blocks in the shallow waters of the Gulf of Mexico that will be assigned by the government midyear, a top energy official said Monday.

The recent plunge in oil prices appears to not to have affected the shallow-water phase of the bidding round because of modest production costs, while a later phase involving more costly production in shale-rock formations will be trimmed back to offer only the most attractive of the so-called unconventional resources, said Juan Carlos Zepeda, head of the National Hydrocarbons Commission.

The commission is overseeing what Mexico is calling “round one,” since it is the first of its kind since an energy overhaul last year that ended the 76-year government monopoly on oil exploration and production by national firm Petroleos Mexicanos, or Pemex.

“Even in this price environment, the round is moving forward quite well,” Mr. Zepeda told journalists during a tour of “data rooms” where oil companies can see seismic and other data on the areas prior to bidding.

Among the seven companies that have been authorized into the data rooms–after paying fees–are Exxon Mobil, Chevron Corp., Shell, Ecopetrol SA and BG Group PLC, the commission said in a press release. A total of 30 companies have shown some interest in the process short of paying for entry into the data rooms, the commission said.

Mr. Zepeda said the shallow-water round is in an area of the Gulf of Mexico where there is already significant oil production and where costs are less than $20 a barrel, making them attractive even in the current environment of depressed prices.

via Oil Majors Show Early Interest in Mexico Bidding Round – NASDAQ.com.

Mexico lays out blueprint for energy imports and exports – SABJ

Mexico’s historic energy reforms go into effect on Jan. 1, but officials have just released technical documents that outline rules for imports and exports in this new market.After more than 70 years of strict national control, Mexico is opening its oil and natural gas markets to foreign investment. But the nuts and bolts of how the new oil and natural gas markets will work has become clearer.Mexico’s Ministry of Economy (SE) has released technical documents on their website that outline imports and exports under the rules. The documents include a series of complex formulas that U.S. producers can use to determine how much profit and oil they get to keep for themselves.

via Mexico lays out blueprint for energy imports and exports – San Antonio Business Journal.

Mexico to defer some shale, deepwater blocks auction

Mexico could defer the auction of some high-cost shale and deepwater acreage as a result of falling oil prices, senior officials said today.They said Mexico had been “quite ambitious” on shale blocks before prices starting tanking in mid-2014, making adjustments very likely.Shale and deepwater blocks are scheduled to be offered around March-April 2015 under a staggered first licensing round that got underway yesterday with 14 shallow water exploration blocks. Bids are due on 15 July.The application process to access the data room for the shallow water blocks will begin on 15 December, and the data room will open on 15 January.

via News – Argus Media.

A webinar on Mexico’s Eagle Ford Shale

The International Trade Center is offering a webinar on opportunities in Mexico’s Eagle Ford Shale.The webinar is 10 a.m. to 11:30 a.m. Oct. 21 and the speaker is Thomas Tunstall, research director at the University of Texas at San Antonio’s Institute for Economic Development.The Eagle Ford had an $87 billion effect across South Texas last year — nearly equal to the San Antonio area’s entire gross domestic product, according to UTSA’s latest report.Tunstall is also working on an economic report about the potential for shale development across the Rio Grande.The webinar will include an overview of the Eagle Ford Shale economic impact, opportunities in Mexico for U.S. exporters and a forecast of potential impact in Mexico.

via A webinar on Mexico’s Eagle Ford Shale – Eagle Ford Fix.

A webinar on Mexico’s Eagle Ford Shale

The International Trade Center is offering a webinar on opportunities in Mexico’s Eagle Ford Shale.The webinar is 10 a.m. to 11:30 a.m. Oct. 21 and the speaker is Thomas Tunstall, research director at the University of Texas at San Antonio’s Institute for Economic Development.The Eagle Ford had an $87 billion effect across South Texas last year — nearly equal to the San Antonio area’s entire gross domestic product, according to UTSA’s latest report.Tunstall is also working on an economic report about the potential for shale development across the Rio Grande.The webinar will include an overview of the Eagle Ford Shale economic impact, opportunities in Mexico for U.S. exporters and a forecast of potential impact in Mexico.

via A webinar on Mexico’s Eagle Ford Shale – Eagle Ford Fix.

BBVA Compass chief economist testifies at Texas Senate on impact of Mexican energy reforms on state – MarketWatch

He says reforms to bring state 217,000 jobs, $45 billion in economic activity-Research finds border ‘could see one of the most dramatic transformations in its history’-Groundbreaking legislation in the spotlight

HOUSTON, Sept. 22, 2014 /PRNewswire/ — BBVA Compass’ Chief Economist Nathaniel Karptestified at a TexasSenate subcommittee Friday about Mexico’s historic energy reforms, which he said will add more than 200,000 jobs, almost $3.5 billion in state revenues and $45 billion in GDP to the Texas economy.

Karp was invited to speak before the natural resources subcommittee by Texas Sen. Juan Hinojosa of McAllen, the committee’s chairman. He spoke about research his team at BBVA Compass conducted on the economic impact that Mexico’s groundbreaking legislation, which was passed in December and allows private firms to invest in the country’s energy sector, will have on Texas.

“Texas stands to be the major beneficiary from the reform due to deep economic ties, geographic proximity and expertise in energy exploration, production and distribution,” Karp told the subcommittee. Mexico “will need Texas’ firms to provide physical resources, cutting-edge technologies, human capital and expertise” – particularly in deepwater and horizontal drilling and extra heavy oil.

He anticipates a large share of the foreign direct investment to Mexico will be used to purchase goods and services from Texas, benefiting a wide range of the state’s industries. In addition, he predicted that Mexico’s faster economic growth created by the reforms will further boost trade with Texas and business opportunities throughout the state.

He pointed out that of the five promising basins in Mexico, the two largest are on or near the Texas border. The Burgos Basin in northeast Mexico is estimated to hold two-thirds of Mexico’s shale gas resources. It’s an extension of Texas’ Eagle Ford Shale, and would have significant appeal for companies that operate on the Texas side of the border. Karp said this will help narrow the socioeconomic disparities between Texas’ border cities and big metro areas, like Houston and Dallas.

“If these border towns effectively seize the opportunity, the Texas-Mexico border could see one of the most dramatic transformations in its history,” Karp said.

BBVA Compass chief economist testifies at Texas Senate on impact of Mexican energy reforms on state – MarketWatch.