Mexico's EIM Capital and an affiliate of Oklahoma City, Oklahoma-based American Energy Partners LP (AELP) have formed a partnership to explore exploration and development opportunities in Mexico’s unconventional oil and gas reserves.
AELP and EIM Capital have entered into an agreement whereby, upon the completion of certain conditions, AELP will make an investment into EIM Capital to jointly pursue investments in Mexico's energy industry and explore unconventional oil and gas development.
The US Energy Information Administration estimates that Mexico’s unconventional reserves could hold more than 60 billion barrels of shale resources, which would provide more than 35 years of Mexican oil supply at current US production levels.
EIM Capital, a Mexico City-based private equity fund dedicated solely to new investment in the Mexican energy sector, including power, upstream, midstream, and other energy-related infrastructure, is led by CEO Franco C. Hamdan and former Mexican President Vicente Fox.
American Energy Partners, an oil and gas asset management platform and operator with a management team that has drilled more than 15,000 horizontal shale wells throughout the US, is led by former Chesapeake Energy Corp. Co-Founder and CEO Aubrey K. McClendon.