{"id":7827,"date":"2017-06-05T15:45:38","date_gmt":"2017-06-05T20:45:38","guid":{"rendered":"http:\/\/nrgibroker.com\/?p=7827"},"modified":"2017-07-06T17:22:28","modified_gmt":"2017-07-06T22:22:28","slug":"interest-in-mexicos-offshore-blocks-is-surging","status":"publish","type":"post","link":"https:\/\/nrgibroker.com\/en\/interest-in-mexicos-offshore-blocks-is-surging\/","title":{"rendered":"Interest In Mexico\u2019s Offshore Blocks Is Surging"},"content":{"rendered":"

By Oil & Gas 360 – Jun 03, 2017, 12:00 PM CDT<\/a><\/span><\/p>\n

The Comisi\u00f3n 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 are prominent among the companies involved. Chevron (ticker: CVX), ConocoPhillips (ticker: COP) and Shell (ticker: RDS.A) have each pre-qualified. Other major international companies include Eni (ticker: E), Repsol (ticker: REP) and Total (ticker: TOT).<\/span><\/p>\n

Several NOC\u2019s have also applied, including CNOOC, Pemex, Lukoil, Petronas, Colombia\u2019s Ecopetrol and India\u2019s ONGC. International E&P\u2019s that have signed on include Noble (ticker: NOG), Premier (ticker: PMO) and Ophir (ticker: OPHR). Five consortiums have also applied, accounting for a total of 11 companies.<\/span><\/p>\n

A total of 15 offshore lease blocks will be offered in this sale. According to CNH, these 15 blocks contain a combined 1.6 BBOE of recoverable resources. Block 11, in the southern section offshore from Tabasco, has the largest prospective resource of any block with a P50 of 300 MMBOE.<\/span><\/p>\n

Interest in Mexican offshore properties is increasing as the overall oil industry recovers. Mexico\u2019s recent deepwater offshore lease sale was highly successful, with eight out of ten blocks sold.<\/span><\/p>\n

First private offshore oil well in 80 years recently began drilling<\/span><\/p>\n

A major milestone was achieved in May, as a JV between Premier Oil, Talos Energy and Sierra Oil & Gas began drilling the Zama-1 offshore well. This is the first time in nearly 80 years that a private company has drilled an offshore oil well in Mexico. Each of these companies has pre-qualified for the most recent lease sale.<\/span><\/p>\n

Privately-held Talos Energy is the operator of the well, with a 35 percent stake. Premier owns 25 percent, while Sierra holds the remaining 40 percent. According to Premier, the Zama-1 well has a P90-P10 gross unrisked resource range of 100-500 MMBOE.<\/span><\/p>\n

\u00a0Premier expects Zama-1 will take about 90 days to drill, and will have a total cost to the company of $16 million.<\/span><\/p>\n

Tudor Pickering & Holt, however, predict that this resurgence will not have an effect for some time.<\/span><\/p>\n

While the firm does expect shallow water production to be the next material near-term contributor to Mexican production, it will not have a significant effect for several years. TPH predicts Mexican production will decline by about 5 percent per year through the end of this decade.<\/span><\/p>\n

\"\"<\/a><\/p>\n

By Oil and Gas 360<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

By Oil & Gas 360 – Jun 03, 2017, 12:00 PM CDT The Comisi\u00f3n 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 are prominent among the companies involved. Chevron (ticker: CVX), ConocoPhillips […]<\/p>\n","protected":false},"author":1,"featured_media":6797,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1017],"tags":[],"class_list":["post-7827","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/nrgibroker.com\/en\/wp-json\/wp\/v2\/posts\/7827","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nrgibroker.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nrgibroker.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nrgibroker.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/nrgibroker.com\/en\/wp-json\/wp\/v2\/comments?post=7827"}],"version-history":[{"count":0,"href":"https:\/\/nrgibroker.com\/en\/wp-json\/wp\/v2\/posts\/7827\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nrgibroker.com\/en\/wp-json\/wp\/v2\/media\/6797"}],"wp:attachment":[{"href":"https:\/\/nrgibroker.com\/en\/wp-json\/wp\/v2\/media?parent=7827"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nrgibroker.com\/en\/wp-json\/wp\/v2\/categories?post=7827"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nrgibroker.com\/en\/wp-json\/wp\/v2\/tags?post=7827"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}