From Reuters A pipeline network with spare capacity could allow Mexico to export oil and gas from its flagship offshore Trion project to the United States, the head of Mexico’s oil regulator said on Thursday. The deep water Trion development, with prospective reserves of almost 500 million barrels of oil, was farmed out in December by state-run Pemex to Australia’s
International Frontier Resources closes financing for C$5.1 million Calgary-based International Frontier Resources (TSX: IFR, OTCQB: IFRTF) announced today that the company closed it previously announced private placement for gross proceeds of C$5.1 million effective March 3, 2017, which consisted of the sale of 18,068,160 common shares at a price of C$0.28 per common share. The brokered portion of the private
IFR has been granted access to the data room for the third tender of Round 2 in Mexico’s onshore oil and gas auction Calgary-based International Frontier Resources (ticker: IFR) announced Thursday that its jointly owned Mexican company Tonalli Energia has registered and been granted access to the National Hydrocarbons Commission (CNH) data room for the third tender of Round Two
Export Development Canada to provide half of International Frontier Resources’ performance bond for work in Mexico Calgary-based International Frontier Resources (ticker: IFR) announced today that the company has closed on an Account Performance Security Guarantee (APSG) with Export Development Canada (EDC), a credit agency that supports the development of Canada’s export trade abroad. EDC will provided 50% (US$882,050) of a
Mexico will announce the winners in the second round of offshore auctions three months later than expected Mexico will delay the announcement of winners for Round 2 of its oil and gas auction in order to allow more companies to take part, and to incorporate modifications suggested by the industry. The delay will push the timeline back on announcing the
BHP Billiton wins Trion farmout Mexico’s deepwater Gulf of Mexico oil and gas auction, Round 1.4, resulted in eight of the 10 deepwater blocks in the Gulf being awarded to bidders outside of Mexico—a first for a country that has been determined to successfully draw outside companies to help overhaul its energy sector. Mexico’s National Hydrocarbon’s Commission (CNH) said that
IFR jointly owned partner Tonalli shoots for first well on Tecoluta in 1H 2017 International Frontier Resources Corporation (ticker: IFR) has officially taken over operatorship of onshore oil and gas development block Tecolutla from state-owned PEMEX in Mexico. IFR’s jointly owned Mexican company Tonalli Energia has initiated oil field services contracting, and the company said it has found service providers
International Frontier Resources Corporation (“IFR” or the “Company”) (TSX VENTURE:IFR)(OTCQB:IFRTF) is pleased to announce that its jointly owned Mexican company Tonalli Energia (“Tonalli”) has identified high interest development targets at its onshore oil and gas development block, Tecolutla. Upon signing the License Contract on August 25th, 2016, Tonalli acquired additional 3-D seismic covering an extended area including and offsetting the Tecolutla
Mexico’s data room will become available to companies looking to bid in the second round starting December 15 Mexico has been taking large steps to liberalize its oil and gas industry since 2013 when the government decided to end the 77-year monopoly of state-owned PEMEX. Several rounds of bidding have taken place already, and the second round of onshore assets
President Elect’s Mexican Trade Policy Critical for Gas Exports Donald Trump’s electoral victory has raised many questions concerning his policies on trade and energy. For the U.S. natural gas industry, trade relations with Mexico will prove critical to balancing out the market and providing the demand necessary for domestic production to grow. Since 2010, Mexican natural gas production has been falling
Mexico’s midstream operator CENAGAS looking to invest more than $7.5 billion by 2020 Mexico’s deregulation of its oil and gas sector has many excited about the possibilities of new business coming down the pipes. A great deal of attention has been paid to exploration opportunities in the country, and Tuesday speakers from Mexico’s midstream operator CENAGAS and mid- and downstream
“Things are moving, and it is hard, but we are on the right track” – PEMEX CEO Jose Antonio Gonzalez Anaya During a conference call outlining the company’s five-year plan Wednesday, PEMEX CEO Jose Antonio Gonzalez Anaya said the company will meet its financial targets for the year, and that he believes they are on the right track to make
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