Mexico completes third round of lease auctions

In December, Mexico completed its third round of oil and gas lease auctions, awarding all 25 onshore leases on Dec. 15, including four medium-sized blocks and 21 small fields, according to Fuel Fix.

While the leases were mainly awarded to emerging Mexican companies that were founded following the privatization of the energy industry in 2013, other winners included Roma Energy Holdings, headquartered in The Woodlands, Texas, which won rights to a lease in Tabasco in partnership with Mexican companies Gx Geoscience Corp. and Tubular Technology.

Mexican companies awarded leases included Compañia Petrolera Perseus, Servicios de Extracción Petrolera Lifting de Mexico, Diavaz Offshore, Geo Estratos Mxoil Exploración y Producción, Geo Estratos, Strata Campos Maduros, and Grupo R Exploración y Producción.

Fuel Fix noted that many of Mexico’s startup exploration and production (E&P) companies are led by former Pemex managers or are affiliated with existing oilfield services firms doing business in Mexico.

All 25 leases received at least two bids, which ensures that a contract can be finalized even if the winner decides not to move forward.

Mexico plans to tender licenses in 2016 for the exploration and drilling of 10 deepwater areas in the Gulf of Mexico, according to Reuters, citing Mexico’s energy regulator, the Comisión Nacional de Hidrocarburos (CNH). No date has yet been set for the auction.  

 

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