Pipeline To Mexico’s West Coast To Export U.S. Gas? 10/20/17 •lweb.es/f3626 •bit.ly/2z2rCeg
America’s drillers are looking for a cheaper and quicker route to Asian markets than the Panama Canal.
Mexico Oil Privatization: Billion-Barrel Zama Discovery 14/07/17 •lweb.es/f2879 •bit.ly/2vllGLI
Mexico’s decision to allow private companies to explore for oil and gas in an effort to reverse the decline in the country’s oil production has started to pay off. The Zama discovery announced by Premier Oil, Sierra Oil & Gas and Talos Energy “is the most important achievement so far of Mexico’s energy reform” and “is one of the 15 largest shallow-water fields discovered globally in the past 20 years.” Estimates of oil in place are 1 billion to 1.5 billion barrels. The government will receive a 68.99 percent profit share from every barrel produced.
Big Oil In Offshore Auctions In Mexico And Brazil lweb.es/f1829 11.11.2016
Mexico and Brazil want a slice from a shrinking pie as international drillers limit their investments during a time of depressed oil prices. Mexico will hold its first-ever deepwater auction December 5th, offering up 10 areas in the Perdido area, near its maritime border with the U.S.; in the southern gulf’s Cuenca Salina; and a separate bid for the joint-venture with Pemex in Trion field. Brazil’s tender, set for 2017, will include “unitized” blocks that extend from already discovered pre-salt areas previously awarded to concession holders.
Oil production in federal Gulf of Mexico projected to reach record high in 2017 lweb.es/f869
OEF REVIEW:U.S. Gulf of Mexico (GOM) crude oil production is estimated to increase to record high levels in 2017, even as oil prices remain low. EIA projects GOM production will average 1.63 million barrels per day (b/d) in 2016 and 1.79 million b/d in 2017, reaching 1.91 million b/d in December 2017. GOM production is expected to account for 18% and 21% of total forecast U.S. crude oil production in 2016 and 2017, respectively.
Mexico’s president vows to implement energy reform despite low oil prices lweb.es/f862
OEF REVIEW:Mexico President Enrique Peña Nieto said his nation’s energy reform stemmed from an intense, collective effort early in his administration. Mexico’s energy reform legislation was passed in 2014 and will continue to be implemented on a timely basis. “With this reform, the Mexican state retains ownership of the underground hydrocarbons,” and opens up the hydrocarbon value chain to outside investors, Peña Nieto said. “It is being implemented with success and faster than expected.”