From Reuters Oil service and mapping firms still emerging from an industry recession have received a boost from about $800 million of data sales to energy firms considering bidding for Mexican oil and gas blocks. Mexico will on Wednesday hold its most important auction since a 2013 reform ended the 75-year monopoly on the energy sector held by state-run oil
International Frontier Resources Corporation (ticker: IFR) has received a drilling permit for its onshore oil and gas block, Tecolutla, with its Mexican JV, Tonalli Energia. Tonalli was granted the right to operate, develop and produce hydrocarbons at Tecolutla through a licensing contract with the Mexican government. The Tecolutla block was awarded to Tonalli as part of the first round and
From Reuters Mexico’s national oil company Pemex has made its biggest onshore oil discovery in fifteen years with a find in the eastern state of Veracruz, President Enrique Pena Nieto said on Friday. Tanker trucks of state-owned company Petroleos Mexicanos (PEMEX) are seen in Ciudad Juarez, Mexico October 4, 2017. REUTERS/Jose Luis Gonzalez Pena Nieto said Pemex made the discovery
Mexico’s National Center for Natural Gas Control (CENAGAS) conducted its first open season for capacity rights to its natural gas pipeline grid. The auction took place in May, 2017. In “Round 0”, which took place in October, 2016, CENAGAS allocated approximately 4.1 Bcf per day of capacity to PEMEX, Mexico’s Federal Electricity Commission, and a number of independent power producers.
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
“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
A weak peso and increased interest expenses continue to hurt PEMEX Mexican state-owned oil major PEMEX reported its third quarter earnings Friday, showing a smaller net loss this quarter than last year. The company’s net income loss for the quarter was 118 billion pesos ($6.25 billion), according to the company’s quarterly materials, 29.4% less than in Q3 2015. According to
PEMEX hopes to attract its first consortium of international majors, for Trion farm out As Mexico continues the privatization of its oil and gas sector, state-run PEMEX is seeking international oil majors to help develop the country’s more technically challenging offshore assets. Among the first that PEMEX is looking to develop in cooperation with other companies is the Trion light
International Frontier Resources presents at EnerCom’s The Oil & Gas Conference® During IFR’s breakout sessions, management was asked the following questions: How are you going to get production out? Did you look at anything in Burbos basin (Eagle Ford Extension)? Please clarify environmental liabilities. Anything found after 180 days is the responsibility of PEMEX? Would you have entered Mexico without
An overlooked gem in the rough – Mexico’s under-exploited oil and gas resources In the years of the shale boom, North America has become one of the major players on the global oil and gas stage. Methods like horizontal drilling and hydraulic fracturing unlocked vast quantities of oil and gas previously untapped in the U.S. and Canada, but another major
Mexico’s state-owned oil major is on pace to record its lowest annual production in three decades Petroleos Mexicanos (Pemex) has transformed its energy policies and welcomed investments with open arms, but the progress is no match for the 53% drop in Mexico crude oil basket prices from one year ago. Pemex posted a loss of 167.6 billion pesos, or $9.9
Four new discoveries could generate 200 MBOPD Petroleos Mexicanos (PEMEX) announced last week that the company made its largest discovery in the last five years. The four offshore finds are located in the southern Gulf of Mexico, in an area known as Litoral of Tabasco, according to a press release from PEMEX. The finds are located near the company’s most
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