Mexico awards 10 shallow water GOM blocks in successful 2.1 bid round The National Hydrocarbon Commission of Mexico awarded 10 out of the 15 exploration blocks that were in its Round 2.1 lease auction this week. The awarded leases cover prospective oil and gas acreage in Mexico’s shallow waters in the Gulf of Mexico. According to Haynes and Boones’
Senate weighs in On June 8th, 2017, a bipartisan team of United States Senators Cornyn, Cruz, Hoeven, Moran, Heitkamp, Daines, Inhofe, and Murkowski sent a letter to the United States Trade Representative, Robert Lighthizer, urging him to consider how a revision of the North American Free Trade Agreement (NAFTA) might impact United States energy interests. The letter stressed the interdependence
25 companies pre-qualified for upcoming lease sale Mexico has announced the pre-qualified bidders for its upcoming offshore lease sale, showing which companies are considering purchasing lease blocks. The Comisión Nacional de Hidrocarburos (CNH), which will conduct the lease sale, has listed a total of 25 groups that have successfully pre-qualified for the Round 2.1 sale. As might be expected, supermajors
America’s main energy export destination sees increased growth The Federal Reserve Bank of Dallas has released its Mexico Economic Update, outlining the current situation of the U.S.’s primary energy export destination. The Mexican economy showed solid growth in Q1 2017, with GDP rising by a 2.4% annualized rate. This growth was achieved despite higher inflation, interest rates and uncertainty over
International Frontier preps for Tecolutla workovers in the near-term and new drilling in Q3 Calgary-based International Frontier Resources (ticker: IFR) announced its fourth quarter and year-end operating results for 2016 Wednesday. In the company’s release, IFR said it anticipates its Mexican joint venture, Tonalli Energia, will begin wellhead servicing in preparation for workover of existing wells on its Tecolutla acreage
Shale production provides new opportunities The shale boom has not gone unnoticed by refiners, as two companies are looking to Texas to join some of the biggest plays in the United States. MMEX Resources (ticker: MMEX) and Raven Petroleum both have recently announced their intentions to build refineries in Texas to take advantage of the shale oil production boom. On
Pipeline will provide route to export Permian’s gas to Mexico and ship as LNG Kinder Morgan, Inc. (ticker: KMI) has announced the start of a non-binding open season for firm natural gas transportation service on its proposed Gulf Coast Express Pipeline Project, which will provide an outlet for increased natural gas production from the Permian Basin to growing markets along the
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
